Malagisi and Hardisty of SVN Commercial Realty sell storage portfolio

 

 

Buffalo, NY Nick Malagisi, SIOR and Hans Hardisty, MBA, CCIM on SVN’s National Self-Storage Brokerage and Consulting Council have completed a seven-property sale. The transaction included five large, stabilized facilities and two expansion projects. All of the properties were located in New Jersey and within a two-hour driving distance. The portfolio included 393,400 net rentable s/f and 3,147 units.

All units were single-story, and while the facilities were built in the mid-1980’s, they are well maintained.

According to Hardisty, “Given the confidential nature of the sale, the exact sale price or low cap rate cannot be shared. However, we can say that this was one of the largest sales in SVN’s 34-year history.”