Real Estate Journal — Shopping Centers — July 31 - August 13, 2015 — 7A
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40,100 s/f includes 19 buildings with 316 self-storage units Investment Real Estate announces the $1.79m sale of Stor Mor Self Storage in Carlisle, PA
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ARLISLE, PA — In- vestment Real Es- tate, LLC announces the sale of Stor Mor Self Stor- age in Carlisle, PA for $1.79 million to a private invest- ment group. Stor Mor Self Storage is located in Carlisle, Cumberland County, Penn- sylvania, which is located ap- proximately 14 miles west of Harrisburg, PA. The facility consists of 19 buildings, both single story and over/under two story, and boasts 40,100 s/f. The property has 316 self storage units and 15 outside parking spaces, with room to expand on exist- ing 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 vis- ibility and high traffic counts from Trindle Rd. (Rte. 641) and I-81. The facility opened in 1986 and was over 85% oc- cupied at the time of the sale. Situated on almost 8 acres of commercial zoned land, Stor Mor Self Storage fea- tures 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 pro- cured multiple competitive offers for the ownership group to consider, but the accepted offer ultimately had the few- est concessions as part of the agreement. John Gilliland from 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.” Since its inception in 1998, Investment Real Estate, LLC has specialized solely in the self storage industry, including brokerage, construction, man- agement and development. They travel thousands of miles each year, meeting and getting to know clients in the markets they serve, networking at vari- ous industry associations and functions, while developing their reputation as the go-to source for information in the self storage industry. n
Stor Mor Self Storage
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