PRESS RELEASE: York, PA – April 19, 2018 – Sierra’s Glen Self Storage in Harrisburg, PA
Investment Real Estate, LLC announces the sale of Sierra’s Glen Self Storage to a private investment group. Sierra’s Glen Self Storage is located on Locust Lane in Harrisburg, which is in Dauphin County.
The property is comprised of two metal buildings and includes a full rental home and a rental office. The facility consists of more than 235 drive-up storage units and has excellent visibility and easy access from Locust Lane.
The facility sits on more than 4.6 acres of R-1/C-4 zoned land. Property improvements include perimeter fencing, exterior lighting, asphalt driveways, electronic keypad access gate and security cameras. Sierra’s Glen Self Storage has been maintained to a high level, offered 24/7 storage unit rentals via the website and was 82% occupied at the time of the sale.
Here are some of the obstacles that Investment Real Estate had to overcome during the course of this transaction:
- Existing self storage buildings were never issued a Certificate of Occupancy.
- High volume of due diligence materials requested by the buyer’s acquisition team.
- IRE’s Director of Construction worked diligently with an engineer to obtain a Certificate of Occupancy quickly.
- The IRE team collected and organized all due diligence materials in a timely manner to keep the sale moving forward at a rapid pace.
Kevin Bledsoe, VP of Brokerage for Investment Real Estate, says, “The ownership group decided to sell the property to purse other ventures. The buyers were able to add to their existing self storage footprint in the Central Pennsylvania market. The sale was completed in less than 60 days. Both sides cooperated amicably to get to the settlement table quickly. IRE was happy to help both parties achieve their goals.”
For more information, contact Jess Dubbs, Director of Marketing.