PRESS RELEASE: York, PA – July 14, 2016 – Iron Gate Storage in Hamburg, PA
Locally owned and operated Investment Real Estate, LLC announces the sale of Iron Gate Self Storage for $340,000 to a private investor. Iron Gate Self Storage is located in Berks County on Woodland Road in Hamburg, Pennsylvania, which is about 20 miles north of Reading.
Iron Gate Self Storage consists of three single story buildings with over 70 drive-up self storage units. The facility was over 98% occupied at the time of sale.
The property opened in 1992 and was managed by appointment from a remote location. Iron Gate Self Storage sits on over 0.85 acres of business development zoned land. The facility enjoys high visibility from neighboring businesses and busy Route 61, which serves as the main artery between Route 78 and Route 222. Property improvements include gravel driveways, exterior lighting, keypad operated electric gate and perimeter fencing.
Kevin Bledsoe, Vice President of Brokerage for Investment Real Estate, states, “Investment Real Estate sold the first self storage property the seller owned in 2014, and they understood that property valuations are at an all-time high today, so it’s the best time to test the market. The buyer owns an existing self storage facility within relative proximity of Iron Gate Self Storage and this was an opportunity to add a satellite property to his existing operations. The sale of this property was a winning transaction for both the buyer and seller.”
For more information, contact Jess Dubbs, Director of Marketing.