Fulton Realty Capital advised a private client on the purchase of a self-storage facility in the Midlands Region of South Carolina. Sourcing, financing (CMBS and convertible debt), and all negotiations were led by Fulton's team.
The 74,000 SF asset has 420 storage units, 210 of which are climate controlled, as well as 6 commercial suites. Located in a highly trafficked area, the property features attractive roadway frontage with visible signage. It is consistently rated among the highest-quality self-storage options in the local market.
Although the facility is well-occupied and has demonstrated historical revenue growth, it nonetheless represents an upside opportunity. A professional, third-party team will assume day-to-day operations. Formal revenue management systems, a robust marketing program, and new, ancillary revenue streams will be developed and implemented.