Fulton Realty Capital advised a high-net-worth client on the purchase of a self-storage facility in Central Pennsylvania. In addition to securing CMBS financing, the Fulton team sourced the off-market asset and negotiated the transaction.
The 90,000 SF facility features nearly 550 units, a portion of which are climate controlled. Additional features include nearly 27,000 SF of surface vehicle storage, 2,400 SF of warehouse space, and a communications tower.
Located in a mature market with no active self-storage development in a five-mile radius, the asset is well-positioned for future growth. Although the client retained the property's existing management company, Fulton's advisors have worked with both parties to develop new profitability measures, including a climate-controlled storage expansion.
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