Nicholas Malagisi, national director of the Sperry Van Ness National Self Storage Council, arranged the sale of Deep Discount Mini Storage, at 265 Hayward Ave., to a Canadian partnership.
The property consists of 265 self-storage rental units and commercial warehousing in a 69,000 s/f, four-story building. Patrick Quigley, Esq., partner with the law firm Harter Secrest & Emery LLP, who specializes in commercial real estate and the self-storage industry, facilitated the legal aspects of the transaction and cross border intricacies, the first such acquisition for the Calgary-based buyer in the U.S.
The new owner, Rochester Self Storage LLC, has plans to renovate the storage facility so that the main entrance faces Railroad Ave., the main arterial leading traffic into Rochester's Public Market, a century-old indoor and outdoor bazaar attended by thousands of shoppers every week of the year. The new owner also intends to rebrand the facility under a new trade name and expand its self-storage concept to other markets both in NYS and nationally.
In addition, units will be constructed throughout the remaining 69,000 s/f, four-story building. The project will offer urban customers a modern, all metal panel partitions and doors. The facility also features covered dock-high or grade-level entry doors with an indoor staging area for easy accessibility and two elevators for access to the units on the 2nd-4th floors. A third party management firm, Storage Asset Management of York, PA, will manage the self-storage facility for Rochester Self Storage LLC. Tags: