It is Morningstar’s first acquisition in the Bryan/College Station area and its 10th property in the state
September 11, 2015
: Based in North Carolina, Morningstar Properties LLC, which manages self-storage facilities under the Morningstar Mini-Storage brand, has recently purchased a self-storage
facility in Bryan, Texas, under its proprietary investment vehicle, Blue Doors Storage Fund II.
“Morningstar of Bryan/College Station is a great foothold, with a fantastic product, in a new market we are very excited about,” said Dave Benson, president of Morningstar Properties. “The Bryan/College Station market is very vibrant and will be a growth market for us as we continue to selectively invest across the state of Texas.”
The new self storage facility is located in the Bryan-College Station Metropolitan Statistical Area, in the Brazos Valley region of Texas that covers four counties: Brazos, Burleson, Grimes and Robertson.
The property contains 85,000 rentable square feet in 580 units. It also has enclosed RV-parking spaces and larger units suited for commercial uses, according to a Morningstar press release.
The release stated that, Morningstar also purchased Blue Llama Storage in the Alamo Ranch neighborhood of San Antonio in July. It has purchased six assets to date, and plans to purchase several more facilities in Texas this year.
Morningstar has acquired, developed and operated over 136 self-storage projects across the country, totaling more than 8.9 million square feet. It currently owns and operates 37 self-storage centers in nine states, with most concentrated in the South.
Visit http://www.insideselfstorage.com/ for more information.