PRESS RELEASE: York, PA – July 20, 2017 – Sale of Parkway Storage in Wilkes-Barre, PA
Investment Real Estate, LLC announces the sale of Parkway Storage for $1,360,000 to Self Storage Station, owned and operated by a local investment group. Parkway Storage is located in Luzerne County on Sans Souci Parkway, Wilkes-Barre, PA.
The property consists of more than 230 self storage units in ten single story buildings and is situated on over 3.5 acres of commercial-combination zoned land. Parkway Storage offers both drive-up and interior heated storage units, rentable warehouse space, two small retail offices and an afterhours lounge.
The site includes a perimeter fence with an electronic access gate, asphalt driveways, interior and exterior lighting and an on-site property manager. Parkway Storage opened the first building in 1995 with subsequent phases completed over the next few years. At the time of sale, the property boasted 95% occupancy.
George Hatchard, Brokerage Advisor for IRE, says about the sale, “The sellers were wonderful to deal with. This property has been in their family over 50 years with self storage added in the late 90s. We were able to get them the price they desired and closed, start to finish, within six months.”
For more information, contact Jess Dubbs, Director of Marketing.