Morningstar Properties LLC, which operates self-storage facilities under the Morningstar Mini-Storage brand, has acquired a self-storage facility in Bryan, Texas, under its proprietary investment vehicle, Blue Doors Storage Fund II. The facility is in the Bryan-College Station Metropolitan Statistical Area, in the Brazos Valley region of Texas that covers four counties: Brazos, Burleson, Grimes and Robertson. It’s also close to the Miramont Country Club family community and the commercial business district along Briarcrest Drive and Texas State Highway 6. This is Morningstar’s first acquisition in the Bryan/College Station area and its 10th property in the state.
Constructed in 2009 and expanded in 2014, the former Brazos Moving & Storage at 2704 Boonville Road comprises 85,000 rentable square feet in 580 units. It also has enclosed RV-parking spaces and larger units suited for commercial uses, according to a Morningstar press release.
“Morningstar of Bryan/College Station is a great foothold, with a fantastic product, in a new market we are very excited about,” said Dave Benson, president of Morningstar Properties. “The Bryan/College Station market is very vibrant and will be a growth market for us as we continue to selectively invest across the state of Texas.”
Morningstar also acquired Blue Llama Storage in the Alamo Ranch neighborhood of San Antonio in July. It has acquired six assets to date, and plans to purchase several more facilities in Texas this year, the release stated.
Founded in North Carolina in 1981, Morningstar Properties is a vertically integrated developer, operator and owner of real estate products focused primarily on self-storage and marinas in the Southeast. The company has acquired, developed and operated more than 136 self-storage projects across the country, totaling more than 8.9 million square feet. It currently owns and operates 37 self-storage centers in nine states, with most concentrated in the South.
