LandPark Advisors, LLC Acquires 43,000 SF Self Storage Facility in Spring, Texas
February 19, 20
LandPark Advisors, LLC (“LandPark”) acquired the self storage facility located at 19526 Kuykendahl Road, Spring, Texas, formerly known as Regal Self Storage. LandPark intends to rebrand the self storage facility as “Right Move Storage Spring.” The venture intends to capitalize on the exceptional Spring, Texas market - The Houston-Woodlands-Sugar Land MSA.
According to Peter Wall, CEO of LandPark Advisors, LLC, “Our overall goal on the investment side is to create generational wealth by securing risk adjusted returns for our investors and that is why we believe Right Move Storage Spring is a great addition to our portfolio.”
Right Move Storage Spring is comprised of eight, single story storage buildings totaling 43,025 rentable square feet, built in 2005 and situated on 1.796 acres with excellent visibility along Kuykendahl Rd. The facility contains climate and non-climate storage units and office suites. Right Move Storage Spring is located in an area with strong fundamental demographics, both in terms of population and median income.
LandPark intends to enact a comprehensive value-add strategy by extensively renovating the facility and implementing an efficient leasing strategy through the services of Right Move Storage, LLC (“Right Move”). Right Move will be responsible for the day-to-day management of Right Move Storage Spring.
Peter Wall further added that “the acquisition of this storage facility meets our investment philosophy of acquiring value-add storage properties in highly desirable, supply-constrained markets that will benefit from capital improvements and hands-on management. Property management is a critical factor in our overall success of repositioning storage facilities and we are confident in Right Move’s ability to execute our business plan.”
Per Darren Kelley, President of Right Move Storage, “Competitively pricing climate and non-climate controlled storage rates, revenue management software, and a state-of-the art website will enable Right Move Storage Spring to be one of the market leaders in terms of occupancy and rents.”
LandPark Advisors (www.landparkco.com/) is a private, full service commercial real estate investment management firm based in Houston with in-house expertise in acquisitions and underwriting as well as asset, property, construction and investment management through the services of LandPark Commercial and Right Move Storage. LandPark Advisors’ primary focus is acquiring value-add self storage assets on an opportunistic basis while offering best-in-class third-party property management. For more information, please contact Bill McGrath, President of LandPark Advisors at 713-789-2200.
Right Move Storage (www.rightmovestorage.com) was ranked #20 Nationally on Inside Self Storage’s 2019 Top Operators’ List and Right Move has over 35 self storage facilities containing over 14,000 units / 2,000,000 square feet under management throughout multiple states. Right Move offers a wide range of tailored services to meet the needs of property owners. For more information, please contact Darren Kelley, President of Right Move Storage at 832-415-3315.
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