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Joseph Russell Jr Of Public Storage Acquires Self Storage Facility In Plantation For $57.3M

Property Image
SOLD
$57,300,000

Florida

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Self Storage556,618 SF
Sold 03/27/2025
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Property Image
SOLD

Joseph Russell Jr Of Public Storage Acquires Self Storage Facility In Plantation For $57.3M

10600 Florida Highway 84 & 231 Southwest 125th Avenue

See Similar Deals
Self Storage556,618 SF
Sold 03/27/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Self Storage
Price Per Square Foot:$102
Total Square Footage:556,618 SF
Transaction Type:Sale

The property involved in the transaction is a self-storage facility located at 10600 Florida Highway 84 in Plantation. The asset has a transaction value of $57,300,000.00 and encompasses a total square footage of 278,309.0.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $57,300,000.00
  • Address: 10600 Florida Highway 84
  • Market: Plantation
  • Buyer: Joseph Russell Jr - Public Storage
  • Seller: Sam Jazayri

The transaction highlights Joseph Russell Jr, who represents Public Storage, as the buyer in this deal. The seller, Sam Jazayri, played a crucial role in the completion of this property sale.

Players

PS
Public Storage
BUYER
SJ
Sam Jazayri
5 deals$86M volume
SELLER

Details

SOLD
IMAGE: Joseph Russell Jr DATE: 03/27/2025 ADDRESS: 10600 Florida Highway 84 & 231 Southwest 125th Avenue MARKET: Plantation ASSET TYPE: Self Storage ~ ACRES: 7.4 BUYER: Joseph Russell Jr - Public Storage SELLER: Sam Jazayri SALE PRICE: $57,300,000 SF: 278,309 ~ PPSF: $206 NOTE: Public Storage expanded its footprint in Plantation with a $57.3M purchase of two self-storage facilities totaling 278,309 square feet. The deals, sold by entities tied to Sam Jazayri, included a $36.2M acquisition at 10600 W State Road 84 ($219/SF) and a $21.1M purchase of a six-story building ($187/SF).

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,055,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$203,574.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$271,631.23
Annual Debt Service$3,259,574.80