North Carolina company buys more Austin-area storage facilities

Oct 17, 2014
Austin Business Journal

Morningstar Properties has expanded its Texas holdings by acquiring six more storage facilities, including three in the Austin region and three in the San Antonio market

The new properties add 430,000 square feet of facility space and nearly 3,000 storage units to the company's portfolio. Morningstar is based in Charlotte, North Carolina

The three Austin-area locations acquired are located at:

• 1001 West Goforth, Buda

• 10220 US Hwy 290 West, Austin

• 4221 Ranch Road 260 North, Austin

The new facilities will join Morningstar's two existing properties in Houston, expanding the company's assets in the state to more than 550,000 square feet and nearly 4,000 storage units. Morningstar currently owns and operates 35 storage properties, mostly concentrated in the Southern United States

"Given their proximity to multifamily residential, growing commercial corridors and college campuses, we expect these new properties to do very well for us," said Dave Benson, president of Morningstar Properties, in a statement

Print Article opens in new window