PRESS RELEASE: York, PA – April 7, 2016 – Advantage Storage & Rental in Pen Argyl, PA
Locally owned and operated Investment Real Estate, LLC announces the sale of Advantage Storage & Rental for $1,920,000 to private investors. Advantage Storage & Rental is located on Route 512 between the towns of Wind Gap and Pen Argyl in Northampton County, Pennsylvania.
Advantage Storage & Rental consists of over 200 units throughout 9 buildings. The facility is located on almost 4 acres of commercial zoned land and enjoys great visibility from busy Route 512 with traffic counts of 11,000 vehicles per day.
The entire property is in exceptional condition. There is an on-site rental office with an office suite and conference room, and offers U-Haul truck rentals. Site improvements include metal roofs, asphalt driveways, exterior lighting, automatic entrance gate and video cameras. Advantage Storage & Rental boasted 95% occupancy at the time of sale.
Kevin Bledsoe, Brokerage Advisor for Investment Real Estate, states, “Advantage Storage & Rental opened in 2008 and the facility was built and operated to the highest of standards in the industry. The ownership group had been contemplating selling the facility for the last 12 months and decided to take advantage of the strong cap rate market. The buyers own a number of self storage assets and had a desire to expand into Pennsylvania. IRE was happy to put the parties together to accomplish the goals of both the seller and the buyer.”
For more information, contact Jess Dubbs, Director of Marketing.