JLL advises on sale of three self storage assets
Sale secured on 145,300 sq ft of self storage space in the Netherlands
JLL has advised Safe Store Opslag, a self storage business based in the Netherlands and Belgium, on the sale of three assets, equating to over 145,300 sq ft, from its Opslagruimte portfolio.
The assets, located in the Netherlands in Goes, Hellevoetsluis and Bergen Op Zoom, were bought by Volta Global LLC, a private investment group
Jeff Evans, Managing Partner, Volta said: “This acquisition continues the rapid progress we have made to expand the 1 Box self storage brand since first entering the Dutch market almost one year ago. These facilities, as well as our other recent acquisitions, will soon be re-branded and incorporated into the 1 Box infrastructure, which now includes 13 stabilised properties and two new openings planned for later this year. We are excited about the future of our portfolio and executing on our goal of being a top three self storage operator in the Netherlands.”
Tom Caines, a director in JLL’s alternatives team, said: “It’s great to see the growing demand for ‘mom-and-pop’ portfolios outside of the UK. Safe Store Opslag is a great example of a smaller operator who has created a well-established brand with robust income streams which has attracted foreign investment. The resilient cashflows offered by self storage has increased the profile of the asset class and is driving the demand across Europe.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.