JLL today announced the firm has negotiated the acquisition of a six-acre land parcel located at 1690 North Loop West near the Houston Farmer’s Market on behalf of GreenSpace Self-Storage, LLC (GreenSpace).
Approximately two acres of the parcel will be used for the development of a self-storage facility. Plans for the additional acreage have not been finalized.
When finished, the Class A storage facility will offer 75,000 net rentable square feet across three stories. The property will feature 24-hour surveillance, electronic access control, climate-controlled units, and a retail-oriented customer service office.
“Due to our low cost of construction and the residential growth in the area, we see great potential in this site,” said GreenSpace Co-Owner David Ledoux.
GreenSpace’s modern, patented storage facility design upcycles surplus shipping containers, providing an eco-friendly cost-effective building technique that requires a shorter construction timeline than traditional storage facilities.
“We modify the containers off-site then bring them in and stack them,” Ledoux said. “It’s much quicker and less expensive to build, and the finished product is indistinguishable from any other Class A storage facility.”
The company has a patent pending for a second-generation design that will improve the efficacy and ease of construction even more. It also features streamlined HVAC and mechanical and electrical systems.
JLL’s Chris Bergmann Jr. represented GreenSpace in the transaction. Avison Young represented the seller.
JLL, the exclusive real estate service provider for GreenSpace, also represented the company in the land acquisition of a recently-completed 1,017-unit self-storage facility in Pearland, Texas, a suburb of Houston. Built with the patented storage-container-design, the newly-opened CubeSmart facility is leasing well and is currently marketed for sale by JLL’s Steve Mellon and Brian Somoza.
GreenSpace is a fast-growing self-storage developer that uses an innovative design to increase the profitability of self-storage facilities across the U.S., with projects currently in progress in Sacramento, Los Angeles, Baltimore, Miami, Boston, and Portland, OR.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
