IRE Announces Sale of Bird-In-Hand Self Storage in Pennsylvania
|Investment Real Estate, LLC announces the sale of Bird-In-Hand Self Storage to a private investor. Bird-In-Hand Self Storage is located at 249 Railroad Avenue in Bird In Hand, PA in East Lampeter Township.
The facility opened in 1986, with the most recent expansion completed in 2001. The property features a mix of traditional drive up and interior access storage units totaling more than 20,000 NRSF as well as 35 parking spaces. Bird-In-Hand Self Storage is comprised of just over three acres of industrial zoned land, including two storage buildings and an on-site rental office. The facility was 94% occupied at the time of sale, with a history of over 90% occupancy year-round.
The entrance to Bird-In-Hand Self Storage is located along the highly traveled Old Philadelphia Pike (Route 340) with daily traffic counts exceeding 13,000 vehicles. The facility has an excellent location between the quiet community of Bird-In-Hand and the more heavily populated Lancaster City, just 5 miles due west.
Kevin Bledsoe, VP of Brokerage for Investment Real Estate, says, “The seller and his family owned the property where the self storage facility was developed for more than 50 years. At the time of the property’s inception in 1983, not many people understood self storage and the role it would play in the lives of many Americans one day. I give the seller a lot of credit for having the vision to develop this facility 26 years ago and for operating it successfully until today. I know that selling the facility was bitter sweet, but ultimately it was excellent timing for him and his family." He continues, "For the buying group, this is their first self storage investment; but they own and manage a variety of real estate investment types. The buyers were thrilled to jump into self storage for the first time and we were happy to play a part in helping them get their start.”
The property features dusk to dawn lighting, perimeter fencing with electronic keypad access gate, and 24-hour access to customers.
The seller, Rick Robinson, commented, “I was extremely pleased with all aspects of the process of selling my facility. Their honesty and professionalism was second to none. I would recommend working with Kevin Bledsoe to anyone.”
|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 for our clients; being enthusiastic, energetic, tenacious and competitive; driving the miles, working hard and smart; having fun; and being caring, compassionate and authentic. For more information, please visit https://irellc.com/.
Jess Dubbs, Director of Marketing