Somoza tells GlobeSt.com: “Strict development guidelines and a lack of appropriately zoned sites create barriers to entry for new competition. This, coupled with the fact that the population within a 3-mile radius of the property is projected to grow at an annual rate of 2.57% over the next five years, provided investors with a compelling opportunity to acquire a state-of-the-art, new construction self-storage facility.”

Nearby Steiner Ranch has schools, restaurants, shopping, three community centers with pools, a lake club with access to Lake Austin, and 20 miles of hiking and biking trails. It is near the University of Texas Golf Club with a 7,225-yard championship golf course.

Austin development is abundant. What are the active markets? Who are the key players? Join us at RealShare Austin for market intelligence and the best networking in the biz.

AUSTIN, TX—Gone are the days that self-storage facilities resemble gray industrial boxes in outlying areas. An example of that atypical facility is All Stor Self Storage which opened in April 2015 at 4900 FM 620. Its state-of-the-art design bucks the previous norm of sub-par aesthetics, giving way to a structure that blends into the neighboring development landscape.

This design concept seems to have hit the mark as it recently was purchased by CubeSmart, a Pennsylvania-based REIT. JLL Capital Markets managing directors, Steve Mellon and Brian Somoza represented the seller, Endeavor Real Estate Group, in the transaction.

“Located approximately 10 miles northwest of downtown Austin, the site is well-positioned to benefit from the projected population growth of the area,” said Mellon. “The property is prominently displayed along Austin's heavily traveled FM 620 and is adjacent to a Randall's grocery-anchored shopping center, as well as Steiner Ranch, a 4,600-acre master-planned community. These factors provide the facility with excellent exposure in an area that generates significant traffic from strong surrounding demographics.”

The property's modern amenities embody that growing trend of developing storage facilities that are not only functional but visually appealing. With 583 climate controlled units and seven non-climate controlled units, the facility features electronic access control, drive-up units, video surveillance and a retail-oriented customer service office. The three-story building has a total net rentable area of approximately 61,400 square feet.

Somoza tells GlobeSt.com: “Strict development guidelines and a lack of appropriately zoned sites create barriers to entry for new competition. This, coupled with the fact that the population within a 3-mile radius of the property is projected to grow at an annual rate of 2.57% over the next five years, provided investors with a compelling opportunity to acquire a state-of-the-art, new construction self-storage facility.”

Nearby Steiner Ranch has schools, restaurants, shopping, three community centers with pools, a lake club with access to Lake Austin, and 20 miles of hiking and biking trails. It is near the University of Texas Golf Club with a 7,225-yard championship golf course.

Austin development is abundant. What are the active markets? Who are the key players? Join us at RealShare Austin for market intelligence and the best networking in the biz.