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15500 Voss Rd, Sugar Land, ...

15500 Voss Rd
SOLDSelf Storage

15500 Voss Rd

15500 Voss Rd, Sugar Land, TX, 77498

Building Size

94,220 SF

Asset Type

Self Storage

Closing

Nov 19, 2023

AI

The property involved in this transaction is Imperial Self Storage, a 791-unit facility located at 15500 Voss Rd, Sugar Land, TX, 77498. The property operates under the management of CubeSmart and features a total of 94,220 net rentable square feet of climate-controlled space, situated in the Sugar Land market.

Summary of transaction details:

JLL, represented by Steve Mellon and Brian Somoza, facilitated the transaction on behalf of the seller, SurePoint Self Storage. The buyer's firm, OB Cos./My Place Self Storage, was established by Kurt O’Brien, who is recognized as the founder and former CEO of Simply Self Storage.

Players

Brian Somoza

JLL

Broker

$682.6M

vol

28 deals

Broker
MS
My Place Self StorageBuyer

Sugar Land Self Storage Market Snapshot

Boundary boundary · Self Storage · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93