Hilton Head Island, SC, April 27, 2016 --(PR.com
)-- Sentry Self Storage, a 102,775 net rentable square foot self-storage facility located in Athens, GA, has commanded a sales price very near asking price at over $95 per RSF. Multiple offers were received for this facility which enjoys occupancy of 95%.
Dale C. Eisenman, CCIM of Midcoast Properties, Inc., a leading self storage broker in the Southeast represented the seller and had the listing to market the facility; he was successful in securing a purchase price at a 6% capitalization rate. The buyer is an out of state investor. The entire due diligence and sales process unfolded smoothly thanks to the excellent coordination with the buyer.
Sentry Self Storage was opened around 2006 and continuously expanded through 2011. This investment has 700 self-storage units of which 323 are climate controlled. The facility consists of nine self storage buildings on 8.4 acres. Amenities include drive-up and climate controlled units, security cameras, computerized gate entrance, rental office with moving supplies, and temporary office space for customers.
Midcoast Properties, Inc. is a leading broker of commercial real estate in the Southeast focusing on the Self Storage industry. Brokerage services are available in North Carolina, South Carolina, Alabama and Georgia. The firm’s focus is to be a valuable resource to self storage owners, buyers, industry members and investors.
For additional information contact:
Dale C. Eisenman, CCIM
(843) 342-7680 fax