PRESS RELEASE: York, PA – July 16, 2015 – Storage Station in Middletown, NY
Investment Real Estate, LLC announces the sale of Storage Station in Middletown, New York for $1,900,000 to a private investment group. Storage Station is located on Dolsontown Road just east of Route 17A and close to Interstate 84. Middletown is in Orange County in New York’s Hudson Valley region, northwest of New York City.
Storage Station has 4 buildings with 224 storage units, totaling 24,750 sq ft. The facility has an on-site rental office which is open Monday through Friday. The property boasts excellent visibility from Dolsontown Road and offers easy access to tenants from Interstate 84 and Route 17A. The facility opened in 1986 and had over 90% occupancy at the time of sale.
The facility is situated on more than 3.3 acres of commercially zoned land with room to expand an additional 9,000 sq ft. Storage Station features a fenced exterior, keypad operated electronic gate, asphalt driveways, metal roll-up doors and screw down metal roofs.
John Gilliland, President & CEO of Investment Real Estate, made this comment about the sale, “Storage Station Middletown is part of a larger portfolio of properties that are all under agreement through IRE at this time. The seller had a great run in the storage industry and we were happy to connect him with a buyer who’s actively growing a portfolio of properties in the Northeast. The sale was a win-win for both parties.”
Investment Real Estate received multiple offers on the property for the seller to consider prior to awarding the contract to the ultimate buyer. The property was sold very close to the asking price and the buyer was able to come to the closing table very quickly and with few contingencies.
For more information, contact Jess Dubbs, Director of Marketing.