Brand new self-storage facility in Knoxville, Tennessee changes hands

HOUSTON - November 28, 2022 – JLL Capital Markets announced today that it has closed the sale of a 650-unit, recently completed self-storage facility in Knoxville, Tennessee.

JLL marketed the property on behalf of the seller, MV Investment. Platinum Storage Group purchased the asset.

Opened in October 2022, the facility, which operates under the Storelocal Storage brand, is 100% climate-controlled and the only new-vintage storage option in the immediate area. The three-story property features 24-hour surveillance cameras, individual unit locks, keypad entry and on-site management.

The property is located at 145 Hillview Ave., strategically developed there for its convenient and accessible location at the intersection of two highly traveled corridors within the growing Knoxville market. With limited competitive supply around the property and burgeoning housing and multi-family developments in the vicinity, the facility is well-positioned for strong operations.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Steve Mellon and Brian Somoza and Directors Matthew Wheeler and Adam Roossien.

“MV Investment delivered a state-of-the-art quality product in an excellent location within a strong southeastern market,” said Wheeler. “We greatly enjoyed working with them in facilitating this sale to Platinum Storage.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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