Invesco Real Estate Acquires Property From Foulger-Pratt With Seller's Representatives JLL In Washington DC

Foulger-Pratt has sold a 1,752-unit self-storage facility located at 72 Florida Ave NE, Washington, DC. The property, which operates under the Extra Space Storage brand, was built in March 2020 and includes a seven-story structure. Features of the facility include a 1,000-square-foot office, 400 square feet of restrooms and bike storage, electronic access control, 24-hour video surveillance, covered loading areas, and two elevators for upper floor access.

Summary of transaction details:

• Property Type: Self-Storage Facility
• Transaction Amount: Undisclosed
• Address: 72 Florida Ave NE, Washington, DC
• Market: Washington
• Seller: Foulger-Pratt
• Buyer: Invesco Real Estate and Baranof Holdings
• Seller's Representatives: Steve Mellon, Brian Somoza, Craig Childs, Bill Prutting, Jay Wellschlager - JLL

The transaction involved a partnership between Invesco Real Estate and Baranof Holdings. The facility's modern amenities contribute to its operational capabilities, enhancing its appeal in the competitive self-storage market in Washington, D.C.