JLL’s Capital Markets experts today announced the sale of Safe Keeping Self Storage, a 782-unit self-storage facility in the Houston suburb of Baytown. New York-based Merit Hill Capital purchased the property from Houston-based Weiss Realty Group Inc. 

Steve Mellon and Brian Somoza led the JLL team on the sale. 

“This property provides a value-add opportunity in a growing city with a strong local economy,” said Mellon. “As such, it is a perfect fit for Merit Hill Capital’s portfolio.” 

The 76,485-square-foot property at 120 S. Alexander Drive is surrounded by a population of nearly 52,000 and has only four other competing self-storage facilities within a 3-mile radius. 

Comprised of one single-story building the facility is 93 percent leased. Features of the property include climate controlled units, electronic access control, 24-hour video surveillance, a covered loading area, and eight office/warehouse units that generate additional revenue from non-storage tenants.  

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 2017 alone, the firm’s 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.