The property has been sold for $5,200,000
October 6, 2015: Investment Real Estate, LLC announces the sale of a two property portfolio in Montgomeryville, PA for $5,200,000 to a private investment group.
The portfolio includes Xtra Space Self Storage and Montgomeryville Mini Storage, both of which are situated about two miles apart on the heavily traveled Bethlehem Pike (Route 309) in Montgomery Township, Montgomery County.
“These properties have operated successfully for many years but are now ready for cosmetic and management upgrades. The buyer realized this upside and was willing to meet the seller in the middle on the pricing so that all parties feel they received a fair deal,” said John Gilliland, President, who has worked with the Sellers for many years assisting them in their self storage investments.
Xtra Space Self Storage consists of four buildings and includes both drive up and temperature controlled units totaling 44,775 SF of self storage. This facility opened in the year 1989 and it is situated on around four acres of light industrial zoned land. The facility features improvements such as masonry and metal buildings, paved driveways, exterior lighting, fenced perimeter and an electronic security gate with keycode access.
Montgomeryville Mini Storage consists of two buildings and includes drive up, interior access and temperature controlled units totaling 22,400 SF of self storage. The property also boasts 66 outdoor parking spaces. The facility opened in the year 1988 and is situated on over two acres of light industrial zoned land, with the potential for expansion on a three acre adjacent site. The self storage
facility features improvements such as paved driveways, exterior lighting, camera system, fenced perimeter and automatic gate.