Lemp of Self-Storage Consultants sells $740,000 18,825 s/f facility

Patrick Lemp of Self-Storage Consultants recently closed on the sale of 990 Meriden Rd. This is a first quality single story self-storage facility known as Meriden Road Self-Storage. There is a total of four buildings having a net rentable area of 18,825 s/f with a combination of 229 climate and non-climate controlled units. The buildings were constructed in 2000 and are in excellent condition. The property transferred for $740,000 or $39.31 per rentable s/f. The facility was approximately 70% occupied at the time of sale. The buyer is a local storage owner who felt that there were economies of scale that could be generated by owning additional facilities within the area. Self-Storage Consultants exclusively represented both the buyer and seller in the transaction. Self-Storage Consultants provides brokerage, appraisal, feasibility and consulting services specifically to the self-storage industry.