July 13, 2020 Comments Off on Killeen Storage Facility Trades in 1031 Exchange Views: 404 Texas - Other, Texas News

Killeen Storage Facility Trades in 1031 Exchange

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Sperry Commercial’s Joe Garrett arranged the sale of The Attic Self Storage, a 45,100-square-foot facility in Killeen. The sale price wasn’t disclosed.

The seller, a family trust, was seeking about $2.8 million, according to a sales flyer. A Seattle investor acquired it in a 1031 exchange at a cap rate of 5.5%.

Dallas-based Garrett obtained a sales contract on the property a few days before Washington State’s stay-at-home order was issued. The contract was extended three times during the COVID-19 pandemic.

Built in 1980, the property sits on 2.54 acres, with a market area including nearby Fort Hood. Currently it contains 403 storage units in seven buildings, including 93 climate-controlled units. An additional 104 units can be converted to climate-control.

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