JLL’s Capital Markets experts today announced the firm completed the sale of Jennings Station Self Storage located at 8319 Jennings Station Road in Jennings, Missouri, a suburb of St. Louis. Store Here Self Storage purchased the property.
JLL Managing Directors Steve Mellon and Brian Somoza represented the seller, Jennings Storage Solutions, LLC, in the transaction.
“Located at a major retail intersection in a growing community, this property is positioned to benefit from strong surrounding demographics and excellent exposure,” said Mellon. “The facility’s state-of-the-art design provided Store Here Self Storage with a turnkey opportunity to acquire a high-potential self storage property.”
Constructed in 1985, the property was converted to a self storage facility in 2016. The facility is comprised of a single two-story building, with a total net rentable area of 64,315 square feet. Consisting of 629 climate controlled units, the facility features 24-hour video surveillance, electronic access control, elevator and lift to the second floor, and a retail-oriented customer service office.
Located at the intersection of Jennings Station Road and West Florissant Avenue, the property benefits from exposure to traffic volumes that exceed 19,000 cars per day. Moreover, the property is situated in a densely populated area, with more than 105,000 residents within a three-mile radius.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients – whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.