ROSEWOOD PROPERTY COMPANY COMPLETES 50TH STORAGE CENTER TRANSACTION WITH ACQUISITION OF FRONT RANGE SELF-STORAGE IN COLORADO SPRINGS
Jan 16, 2020 | Press Release
Rosewood Property Company Completes 50th Storage Center Transaction with Acquisition of Front Range Self-Storage in Colorado Springs
76,194-square-foot project is Rosewood’s second in the market
DALLAS – Jan. 16, 2020 – Rosewood Property Company announced today it has acquired Front Range Self-Storage in Colorado Springs, Colorado. This is the firm’s 50th self-storage transaction across the nation.
Located in the northern suburb of Monument, Colorado, the facility’s address is 2145 3rd Street. The storage center contains 76,194 net rentable square feet and 658 storage units. For convenience, the facility includes wide drive aisles with all ground-level units, as well as is easily accessible from Interstate 25. The facility also offers electronic gate access, 24-hour video security surveillance and optimal lighting throughout. The project, currently named Front Range Self-Storage, is managed by and will be rebranded under the Extra Space Storage name.
Rosewood Property Company launched its self-storage program in 2012 with a long-term hold strategy and the ability to close quickly because of the firm’s access to substantial internal capital. Rosewood’s self-storage portfolio includes facilities in several states, with a larger presence in Texas, Pennsylvania, Colorado, Oklahoma and Indiana.
"We are excited to expand our footprint in the Colorado Springs market with a second storage center that fits well in our firm’s portfolio,” said Matt Janes, Director, Self-Storage, Rosewood Property Company. “The Front Range storage center offers a great location for customers with a view of the mountains and easy accessibility.”
Rosewood Property Company currently owns a portfolio of 50 operating self-storage projects in 12 states totaling more than 3.75 million square feet and approximately 30,200 storage units. RPC remains focused on actively building its self-storage portfolio, mainly through acquisition.
Cushman & Wakefield represented the seller.
About Rosewood Property Company
Rosewood Property Company, based in Dallas, is a wholly owned subsidiary of The Rosewood Corporation. Rosewood Property Company and its affiliates have an extensive portfolio, including investments in office, multifamily, industrial, self-storage, and land assets, as well as investments in the equity securities of private real estate investment companies. For more information, please visit www.rosewoodproperty.com.