The property is located in the northwest sector of Ranch Road 620. a high-growth area for residential and commercial development where some 1,600 multifamily units are under construction. The property, due to its location, has fetched between $3.5 million and $4 million.
The storage units had been under construction when Private Mini Storage started negotiating for the site, according to VanderMeulen. Anderson-Engen Investments, a joint venture, had acted as developer, builder and seller. VanderMeulen says the new owner is planning to make some moderate changes, but that's about all since the site had been about 99% complete at the time of the sale..
Private Mini Storage also owns climate-controlled units at Cedar Park along Texas 183; Interstate 35 near Airport Boulevard; W. Fifth Street in the Downtown; and Burnet Road. VanderMeulen, the only broker involved in the deal, represents Private Mini Storage.
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