LandPark Advisors Acquires Self Storage Facility in Houston, Texas
January 20, 22
January 19, 2022
LandPark Advisors, LLC ("LandPark") acquired the self storage facility located at 11901 SF 249, Houston, Texas, currently known as Easy Self Storage. LandPark intends to enact a comprehensive two-part strategy by extensively improving and rebranding the appearance of the facility andleasing up brand-new, climate-controlled units at market rates while capitalizing on the exceptional Houston MSA, both interms of population growth and ongoing economic diversification.
According to Peter Wall, CEO of LandPark Advisors, LLC, “we are pleased to further grow our Houston portfolio and are looking forward to executing our value-add business plan at this facility. Houston’s strong economy continues to drive opportunities for acquisitions in the region.”
Easy Storage is comprised of five, single story storage buildings totaling approximately 30,000 rentable square feet, originally built in 1984 with Phase II completed in 2021 and situated on 2.12 acres with excellent visibility along Tomball Parkway - Highway 249. The facility contains climate and non-climate storage units along with a leasing office.
Peter Wall further added that, “this was a unique opportunity for us since our management company, Right Move Storage, has managed this asset since 2017 and also coordinated the construction of the new phase – 100% climate-controlled building. We understand the future upside with being able to deliver climate-controlled units in this sub-market."
Per Darren Kelley, President of Right Move Storage, “we are confident that Easy Storage will be one of the market leaders in terms of occupancy and rents and we are already ahead of schedule as far as absorption and proforma rates on the new phase."
LandPark Advisors (www.landparkco.com) is a private, full service commercial real estate investment management firm based in Houston as well as asset, property and construction management through the services of LandPark Commercial and Right Move Storage. LandPark Advisors' primary focus is acquiring value-add assets on an opportunistic basis while offering best-in-class third-party property management. For more information, please contact Bill McGrath, President of LandPark Advisors at 713-789-2200.
Right Move Storage (www.rightmovestorage.com) was ranked #15 Nationally on Inside Self Storage's 2020 Top Operators' List and Right Move has over 50 self storage facilities under management throughout multiple states. Right Move offers a wide range of tailored services to meet the needs of property owners. or more information, please contact Darren Kelley, President of Right Move Storage at 832-415-3315.