Fulton Realty Capital advised an individual investor on the acquisition of a self-storage property in North Alabama. The property was sourced by Fulton's commercial real estate team, who also secured CMBS fixed rate financing and led all negotiations.
Featuring more than 500 storage units, encompassing 60,000 rentable SF, the facility was 85% occupied at closing. Located just north of a major metropolitan area and situated along a major state route, the asset has significant upside potential.
Formerly independently owned and operated, the facility will be run by a professional, third-party management company. In addition guiding to a strategic rebranding, Fulton's team will help the new owner improve performance through the implementation of marketing and revenue management systems.
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