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Brokerage
Posted: June 7, 2016
Malagisi of SVN brokers $5.199 million sale of Victory Self Storage
Nicholas Malagisi, Sperry Van NessStaten Island, NY Nick Malagisi, SIOR, national director of the SVN Self Storage Council has completed the recent sale of the Victory Self Storage facility for $5.199 million. Malagisi represented the buyer, Andover Properties of New York, and Del Smith partners represented the seller, a family trust that was the original developer of the property.
Andover operates under the trade name, Storage King, and will re-brand the property along with making several improvements, including the removal of a single family home to build a new two-story, climate control building.
Victory Self Storage has 439 rental units in 14 single story pre-engineered steel buildings plus a free standing office with apartment in 38,345 net rentable s/f and a free-standing cell tower. The facility has consistently operated at 90-95% occupancy.
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