Stor-Mor Self Storage

IRE Announces Sale of Stor Mor Self Storage in Carlisle, PA

PRESS RELEASE: York, PA – July 2, 2015 – Stor Mor Self Storage in Carlisle, PA

Investment Real Estate, LLC announces the sale of Stor Mor Self Storage in Carlisle, PA for $1,790,000 to a private investment group. Stor Mor Self Storage is located in Carlisle, Cumberland County, Pennsylvania, which is located approximately 14 miles west of Harrisburg, PA.

Stor-Mor Self StorageThe facility consists of 19 buildings, both single story and over/under two story, and boasts 40,100 square feet. The property has 316 self storage units and 15 outside parking spaces, with room to expand on existing land and adjoining parcels. The sale included a 3-year land lease to a national truck driving school that IRE helped solidify as part of the sale.  The property enjoys excellent visibility and high traffic counts from Trindle Road (Route 641) and interstate 81. The facility opened in 1986 and was over 85% occupied at the time of the sale.

Situated on almost 8 acres of commercial zoned land, Stor Mor Self Storage features a fully fenced and gated property with metal roofs, exterior lighting, paved and gravel driveways, Morton metal buildings and an on-site rental office.

Investment Real Estate received the first offer on Stor Mor Self Storage within 35 days of listing the property for sale. After marketing the property for 90 days IRE procured multiple competitive offers for the ownership group to consider, but the accepted offer ultimately had the fewest concessions as part of the agreement. John Gilliland, President & CEO of Investment Real Estate said, “Our firm has had a long standing relationship with both the seller and the buyer of Stor Mor Self Storage, and we were happy to bring both parties together to complete the sale of this facility.”

For more information, contact Jess Dubbs, Director of Marketing.

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