Fulton Realty Capital advised a private client on the acquisition of a self-storage property in Greater New Haven, Connecticut. The all-equity transaction was sourced and negotiated by Fulton’s team of real estate professionals.
The 19,000 rentable SF facility has 273 climate-controlled storage units. Only 50% occupied at the time of closing, the property offers significant upside potential.
Fulton will assist the client in completing the physical lease-up and stabilizing economic occupancy. Performance improvements, including formalized marketing programs and the implementation of a revenue management system, have also been identified. The facility will be operated by a professional, third-party management company.
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