Houston Team Hawks One Million-SF Self-Storage Package

Aaron A. Swerdlin and Geoffrey P. Jones, CB Richard Ellis' self-storage advisory team, handled the 10-property disposition. No one's talking price, but the holdings carry addresses in Massachusetts, New York, Pennsylvania, Maryland, Tennessee and Illinois. Devon Self-Storage LLC was the portfolio's operator.

The deals cap a banner year for the niche self-storage advisory group. Swerdlin tells GlobeSt.com that 2002 could easily surpass the 2001 level by midyear. The group's assignments include a metro portfolio in New York City and across the river in New Jersey, a six-property package in Europe and numerous one-off holdings.

"The first quarter looks very encouraging," Jones says. "Lenders are excited about self-storage. Buyers are actively seeking acquisitions. And, sellers have been reasonable with respect to pricing expectations. We feel that all of the ingredients for a great year are in place."

According to Swerdlin, buyers are more strategic about acquisition selection as a result of the current climate. It's definitely a receptive buying field for well-operated, quality assets–even at the aggressive pricing now prevalent in the market.

Jones is managing director, senior vice president and leader of the Houston corporate services department, boasting a Fortune 500 client roster. With the nation pretty much trying to do business as usual, the corporate services market is sure to benefit as the year plays out and deals stalled in fourth quarter 2001 are resurrected, he says.