JLL’s Capital Markets experts today announced the sale of Four Seasons Self Storage in Oakland Park, Florida. CubeSmart purchased the property.
JLL Managing Directors Steve Mellon, Brian Somoza and Denny St. Romain represented the seller, Warehouse Thirteen, LLC, in the transaction.
“The property’s location is a considerable advantage to this asset,” said Mellon. “With strong surrounding demographics and high barriers to new self storage development, this facility should prove to be a sound long-term investment.”
Located at 5061 NE 13th Ave., the facility benefits from a surrounding population of more than 129,000 and favorable incomes within a three mile radius.
Built in 2012, the Class A facility is comprised of one four-story building with 542 climate controlled units and 10 non-climate controlled units. The property has a gated entry with electronic access control, a secured drive-in loading area, individual unit alarms and a retail-oriented customer service office.
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 2016 alone, JLL Capital Markets completed $145 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.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit IR.JLL.com.