{"id":1004147312,"date":"2016-07-06T07:11:22","date_gmt":"2016-07-06T15:11:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004147312"},"modified":"2021-05-14T21:05:05","modified_gmt":"2021-05-15T05:05:05","slug":"jll-arranges-sale-secures-financing-for-houston-self-storage-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/","title":{"rendered":"JLL Arranges Sale, Secures Financing for Houston Self-Storage Asset"},"content":{"rendered":"<p><em>By Adriana Pop, Senior Associate Editor <\/em><\/p>\n<p><strong>Houston<\/strong>\u2014<a href=\"https:\/\/www.simplyss.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Simply Self Storage<\/a> is the new owner of <a href=\"https:\/\/www.simplyss.com\/es\/texas\/houston-access-self-storage\/?hl=en\" rel=\"nofollow noopener\" target=\"_blank\">Access Self Storage<\/a>, a recently built 839-unit self-storage facility in Houston. JLL\u2019s <a href=\"https:\/\/www.us.jll.com\/united-states\/en-us\/services\/investors\/capital-markets\" rel=\"nofollow\">Capital Markets<\/a> team has completed the sale and also procured acquisition financing.<\/p>\n<div id=\"attachment_1004147319\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004147319\" data-attachment-id=\"1004147319\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/650-bay-area-blvd-in-houston\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png\" data-orig-size=\"959,600\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"650 Bay Area Blvd. in Houston\" data-image-description=\"&lt;p&gt;650 Bay Area Blvd. in Houston&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;650 Bay Area Blvd. in Houston&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png?w=959\" loading=\"lazy\" class=\"wp-image-1004147319 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png\" alt=\"650 Bay Area Blvd. in Houston\" width=\"300\" height=\"188\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png 959w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png?resize=300,188 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png?resize=768,481 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004147319\" class=\"wp-caption-text\">650 Bay Area Blvd. in Houston<\/p><\/div>\n<p>Open since 2015, the three-story <a href=\"https:\/\/www.commercialsearch.com\/news\/self-storage\/\" target=\"_blank\" rel=\"noopener\">self-storage building<\/a> is located at 650 Bay Area Blvd. and offers a total net rentable area of 94,475 square feet. The Class A property features 800 climate controlled units and 39 non-climate controlled drive-up units, as well as 24-hour video surveillance and an aesthetically appealing customer service office, designed for retail sales.<\/p>\n<p>JLL Managing Directors Steve Mellon and Brian Somoza led the JLL team on the sale, while Vice President Griffin Guthneck led the financing efforts.<\/p>\n<p>\u201cWith best-in-class design and state-of-the-art construction, this facility leads the market in overall quality, providing investors with the highest quality self-storage space available in its market,\u201d Somoza said in prepared remarks. \u201cAdditionally, the property is positioned in a populous area with above average household incomes and benefits from excellent visibility along the retail-oriented Bay Area Boulevard.\u201d<\/p>\n<p>Comprising a team of more than 2,000 specialists, JLL Capital Markets provides capital solutions for real estate investors and occupiers all over the world. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally.<\/p>\n<p><em>Image courtesy of Simply Self Storage<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Simply Self Storage has acquired Access Self Storage at 650 Bay Area Blvd. in Houston. <\/p>\n","protected":false},"author":260,"featured_media":1004147319,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1589,21783,21742],"tags":[],"class_list":["post-1004147312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-houston","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JLL Arranges Sale, Secures Financing for Houston Self-Storage Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Arranges Sale, Secures Financing for Houston Self-Storage Asset\" \/>\n<meta property=\"og:description\" content=\"Simply Self Storage has acquired Access Self Storage at 650 Bay Area Blvd. in Houston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-06T15:11:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T05:05:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/650-Bay-Area-Blvd.-in-Houston.png\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jll-arranges-sale-secures-financing-for-houston-self-storage-asset\/\",\"name\":\"JLL Arranges Sale, Secures Financing for Houston Self-Storage Asset - 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