Investment Real Estate, LLC Announces the Sale of Empire Storage in Reading, PA
|Investment Real Estate, LLC announces the sale of Empire Storage to a private buyer. The sale consisted of four metal buildings that totaled 29,800 SF and approvals for a 14,800 SF expansion, located on Frush Valley Road in Reading, Pennsylvania. The facility is positioned in a densely populated neighborhood just ½ a mile from Route 222, which serves as the main North-South artery through Reading, which is located in Berks County and serves a population of more than 40,000 people within a 3 mile radius of the property.
Matt Rosendale, Brokerage Associate for Investment Real Estate, says, “Being able to help our seller complete the sale of his property and complete his final move into retirement was both personally and professionally rewarding. Additionally, we helped add another excellent property to our buyer’s portfolio so that he can continue to grow his self storage investment holdings.”
The facility opened in 2006 and features over 170 drive up access self storage units and 45 outdoor parking spaces. Empire Storage is comprised of two parcels that total 3.83 acres of Commercial zoned land, including; four self storage buildings, an onsite rental office and two office spaces.
The seller, Brian, says, "Everything with Matt Rosendale and the IRE Transaction Team ran smoothly. The main thing I found to be helpful with the whole process was the fact that everyone was in good communication with one another and we were all on the same page. The IRE Team kept me prepared for each obstacle I faced. Upon completion of the sale, my wife and I were glad we went through the process and relieved that everything went so well."
The property features security cameras, dusk to dawn lighting, gravel and paved drive surfaces, security fencing, a rental office and electronic gate access. The facilities occupancy was over 95% upon sale, and there was positive self storage demand within a 1 and 3 mile radius which helped support the 14,800 SF expansion.
The buyer, Jason, states, “The gentleman at IRE worked tirelessly to find me a property that fit the needs of my investment requirements. I've worked with IRE several times and each time they did a great job throughout the transaction, they were very professional and exceeded my expectations.”
|ABOUT INVESTMENT REAL ESTATE, LLC
Since our inception in 1998, we have specialized solely in the self storage industry. In fact, we are one of the very few companies in the United States who can offer you a plethora of brokerage and feasibility services, as well as decades of experience in self storage construction, development and property management. Our brokerage team handles transactions for buyers and sellers encompassing single properties to multi-million dollar portfolios. Our company remains locally owned and operated and is guided by the core values of doing the right thing; being enthusiastic, engaged and competitive; working hard, working smart; having fun; and being compassionate and authentic. For more information, please visit https://irellc.com/.
Jess Dubbs, Director of Marketing