Feb
17

Summerville Self Storage Facility Sold for $1.7 Million

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grand oaks self storageGrand Oaks Self Storage, located in Summerville SC, was sold in February to an out of state buyer and commanded a sales price of $1,700,000 which factored in the onsite expansion land that has been approved for over 55,000 sf of self storage. The buyer formed an LLC for the purpose of acquiring the facility and intends to expand the facility in the near term.

This facility was comprised 24,705+/- RSF, and 152 units on over 5 acres. Amenities include drive-up and climate controlled units, RV, boat and car parking, security cameras, computerized gate entrance, and a rental office with moving supplies and good visibility.

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. Some unexpected situations arose during the due diligence process, but Dale was able to facilitate a satisfactory resolution leading to the successful closing of the transaction.

Categories : Charleston, Summerville

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