IRE Announces Sale of the Locker Room Self Storage Portfolio in Pennsylvania & New Jersey
|Investment Real Estate, LLC announces the sale of Locker Room Self Storage to a private investment group. The two property portfolio, located in Collegeville, Pennsylvania and Bridgeton, New Jersey, includes 136,000 SF and 1,200 storage units on a combined 15 acres.
The property in Bridgeton, New Jersey is located on Love Lane with drive-up access storage units and includes space available for future expansion. There are 24 buildings and an on-site rental office. The facility was 99% occupied at the time of sale. The property in Collegeville, Pennsylvania is situated on Germantown Pike and includes drive-up and temperature-controlled storage units. There are four buildings and an on-site rental office. The facility was 97% occupied at the time of sale.
George Hatchard, Brokerage Advisor for Investment Real Estate, says, “John Gilliland and IRE have had a long relationship with the seller, Randy Feinberg, and his controller, David Eckelmeyer. We are always honored when a seller chooses us to market their property for them. But repeat customers are special. They confirm to us all that we are doing things the right way!”
The Locker Room Self Storage portfolio surrounds the Philadelphia MSA. Both properties have been well maintained, offer 24-hour video surveillance, have perimeter fencing and offer online payments.
The seller Randy Feinberg had this to say about his relationship with IRE, “We recently sold the last two storage facilities in our portfolio. We used Investment Real Estate as our broker on our previous sales and have had a long-standing relationship with them, but this transaction may have been our smoothest yet. George Hatchard was our point man throughout, and we could not have asked for better service and communication. He was in contact with us daily, and made sure that the entire process was stress free.”
|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