PRESS RELEASE: York, PA – September 27, 2018
IRE Announces Sale of Lock & Roll Self Storage in Port Jervis, NY
Locally owned and operated Investment Real Estate, LLC (IRE) announces the sale of the Lock & Roll Self Storage for $1,500,000 to a private investor. Lock & Roll Self Storage is located on US 209 just north of Port Jervis, New York, which is in Orange County.
The property opened in 2008 and expanded in 2012, and has approval to add an additional 4,500 NRSF of storage. The facility offers a variety of storage options in their over 125 units including drive up, interior access and temperature control units. It is comprised of five buildings with an on-site rental office. Route 209 connects Northeastern Pennsylvania with New York’s Hudson Valley and Lock & Roll Self Storage is located along route 209, with an average daily traffic count over 12,000 vehicles. The facility is comprised of 5.4 acres and features a perimeter fence, asphalt driveways, 24/7 security cameras and a keypad access electronic gate. Lock & Roll Self Storage was 96% occupied at the time of the sale.
George Hatchard, Brokerage Advisor for Investment Real Estate, says, “The Sellers were wonderful to work with during this transaction. This facility was their pride and joy, and they wanted to make sure the buyer had everything needed to continue the successful operation of the business. It was important on this deal for the buyer to not only see the value in the approved expansion, but to understand that additional expansion of over 15,000 SF is possible as well.”
The seller’s, David & Dee Koroluk, commented, “George Hatchard’s calm personality, as well as his professional expertise from day one through the end, made this sale possible. As in any sale, there were bumps in the road, or ‘hiccups’ as George would say, but he helped us deal and work through them. George went above and beyond several times to make it work.”
For more information, contact Jess Dubbs, Director of Marketing.