Two Texas-based management firms are diving in big on the Dallas self-storage market.
LandPark Advisors has partnered with Sunset Capital to acquire an eight-property Self-Storage Portfolio with properties in East Texas and the Dallas-Fort Worth MSA.
The financial terms were not disclosed.
Collectively, the properties total over 237,700 square feet across 1,440 units.
The properties:
- Right Move Storage – Wylie, 2455 East F.M. 544, Wylie
- ACME Self Storage, 301 Providence Circle, Hallsville
- A&A Self Storage, 1080 West Main Street, Hallsville
- Noonday Storage, 14281 County Road 168, Flint
- All-N-One Storage, 8121 TX-149, Longview
- Lakeport Self Storage, 5103 Estes Parkway, Longview
- Green Street Self Storage, 2202 South Green Street, Longview
- Luper Self Storage, 426 S. Shelby Street, Carthage
Fort Worth-based Right Move Storage will be responsible for daily management of the portfolio. It will help reposition the portfolio by rebranding it and implementing a new leasing and management strategy.
“Right Move has intimate knowledge of these assets, and we believe there is significant market demand for quality self-storage facilities in these Texas markets,” said Darren Kelley, president of Right Move Storage.
The self-storage market in general has seen a recent resurgence nationally due to the trend of nesting at the onset of the pandemic, and Texas in particular has seen a significant upturn.
Dallas had the most self-storage projects built nationally in 2021, and new projects like Go Store It Self Storage’s West Dallas rebrand are on the horizon.
“LandPark is bullish on the self-storage industry’s resilient history in varying economic conditions so we’re thrilled to have an ownership stake in the Dallas market with a product type that has proven itself through significant economic crises over the past several years,” said Peter Wall, CEO of LandPark Advisors.