The new facility will be renamed as Storage Pros Self Storage
July 21, 2015
: Storage Pros Management LLC, privately owned company specializing in the acquisition, development and management of self-storage
facilities in the eastern states has recently purchased University Pines Self Storage from Ireland Cos. a family-owned real estate investment and development company based in Miami.
The property has 74,783 square feet and features 1,020 units. The property also has 18 uncovered parking spots.
According to a press release from Jones Lang LaSalle (JLL) Capital Markets, the investment-management firm that represented the seller in the transaction, barriers to entry for new competition are extremely high, as the property is in a dense urban area.
Jones Lang LaSalle has over 230 corporate offices, manages in 80 countries and has a global workforce of nearly 58,000.
Established in the year 1960, Ireland Cos. owns retail-shopping centers and two golf courses in Miami.
According to Ireland Cos website, University Pines Self Storage was its only self-storage property.