Storage Mall Lexington Park Closes with 95% Occupancy
Investment Real Estate, LLC announces the sale of The Storage Mall Lexington Park to a private buyer. The sale consisted of 12 buildings that total over 28,000 SF on Great Mills Road in Lexington Park, Maryland. The facility is positioned on Great Mills Road which features an average traffic count of 19,451 vehicles per day. The Storage Mall is located in St. Mary’s County and serves a population of more than 45,000 people within a 5-mile radius of the property.
Matt Rosendale, Brokerage Advisor for Investment Real Estate, says, “IRE was pleased to help the seller achieve his goals in this sale. Additionally, we helped add another excellent property to our buyer’s portfolio so that he can continue to grow his self storage investment holdings.”
The facility opened in 1984 and features over 300 drive up access self storage units and 34 outdoor parking spaces. The Storage Mall Lexington Park is comprised of one parcel that totals 3.41 acres of Commercial zoned land, including 11 self storage buildings, an onsite rental office, and one apartment.
The property features security cameras, dusk to dawn lighting, gravel and paved drive surfaces, security fencing, a rental office, on-site staff, and electronic gate access. The facility’s occupancy was over 95% upon sale.
ABOUT INVESTMENT REAL ESTATE, LLC
Since our inception in 1998, Investment Real Estate, LLC has specialized solely in the self storage industry, including Brokerage, Construction, Management and Development. We travel thousands of miles each year, meeting and getting to know clients in the markets we serve and networking at various industry associations and functions, while developing our reputation as the go-to source for information in the self storage industry. We are the #1 Broker of Self Storage in the Mid-Atlantic and Northeast States. Our company remains locally owned and operated and is guided by the core values of doing the right thing; being enthusiastic, engaged and competitive; working hard; working smart; having fun; and being compassionate and authentic. For more information, please visit https://irellc.com/.