Fulton Realty Capital advised a private client on the acquisition of a self-storage complex in North Carolina's Research Triangle region. The transaction was sourced, financed (CMBS), and negotiated by Fulton's commercial real estate experts.
The 110,000 SF asset includes 930 units across a 7 acre site. Additional features include 27 RV parking spots and 6 mini-offices. Well maintained and regularly upgraded, the facility is near an active downtown area. There is no current competition from national self-storage operators, despite the submarket's favorable demographic and economic trends.
A gap between physical and economic occupancy offers revenue upside at the highly-rated facility. There's also significant potential for cost savings. To leverage these opportunities, Fulton's team helped the client secure a professional, third-party management company.