Duo of Self-Storage Sites Commands $4M

LORDS VALLEY, PA-Booker Smith, the owner of Lords Valley Self Storage, has sold the four-acre main facility on Rte. 739 here and a 4.9-acre satellite location five miles away in Greeley to PA Real Estate Two LLP, another area investor, for $3.9 million. The new owner will continue to maintain both properties as self-storage facilities and plans to expand at the Greeley location.

The Lords Valley site consists of 33,000 sf of storage units in five buildings and also has a 3,000-sf office building with three leased rental apartments, according to Chuck Shields. Shields, vice president of Conshohocken-based Beacon Commercial Real Estate, is also a broker-affiliate of the Aurora, CO-based Argus Self Storage Sale Network, which is a network of independent brokers nationwide who specialize in self-storage. Shields was the sole broker in this transaction.

Both sites are fenced and have 24-hour access. Shields tells GlobeSt.com the storage units were built in phases, beginning in the early 1990s. “The Greeley site, located on Rte. 6, now contains 16,400 sf of storage space. It has approvals for a minimum of 35,000 sf of expansion,” he says.