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Published: Monday, August 18, 2008
The Sperry Van Ness National Self Storage Team Completes the Sale of a Self Storage Facility for $4.04 Million.
The Sperry Van Ness National Self Storage Team, an elite group of investment brokers specializing in the marketing, sale, disposition and acquisition of self storage properties throughout the U.S, has completed the sale of a self storage facility for $4.04 million. The property is located at 2277 Walters Road, Fairfield, CA.
Peter Ingersoll, managing director for Sperry Van Ness/Pinnacle Realty Partners in Benicia, CA represented the buyer, StorageMart, a Columbia, Missouri-based self storage operator. Dave Buurma of NAI-BT Commercial represented the seller, Napa, California-based Security Self-Storage. The property closed at a price of $70.11 per square foot net rentable.
“The property has a superb location, has been very well maintained, has great potential to raise rental rates to market rates and add retail product sales,” says Ingersoll. "Additionally, the property has an onsite rental office, individually alarmed units, is fully fenced with a security gate pad system and has several cameras.”
The facility features 543 rental units and approximately 57,625 rentable square feet. At the time of sale, the property was 93% occupied.
Formed in 2005, the Sperry Van Ness National Self Storage Team consists of senior investment advisors specializing in the marketing, sale, disposition and acquisition of self storage properties nationwide. The team utilizes local market expertise to provide clients with the most critical information in a specific market to strengthen the transaction process. By leveraging an appropriate advisor in each market, the team creates an unprecedented synergy for its clients. Sperry Van Ness is the only national firm that in addition to marketing to self storage investors and outside investors, implements an immediate proactive strategy to market all listings to the entire brokerage community. Collectively, the team has brokered the sale of over $400 million in self storage real estate based on total transaction volume. For more information, or to find a representative in your market, please call (800) 304-0442 or visit www.storagerealty.com.
Founded in 1987, Sperry Van Ness is one of the largest and fastest-growing commercial real estate brokerage firms in the industry, with more than 1,000 advisors in over 150 locations. The firm is built to immediately market every one of its clients’ properties to the entire brokerage community. Sperry Van Ness delivers results for clients through a proven business model that provides advanced marketing and technology tools. Based in Irvine, California, the firm operates internationally and provides brokerage, consultation, asset management, property management, leasing, accelerated marketing, and auction services. Sperry Van Ness transactions total billions of dollars annually in office, multifamily, retail, industrial, self storage, hospitality and land transactions. For more information, please visit www.svn.com.