Outside the Region: Neville and Malagisi of SVN Nat’l. Self Storage broker 246-unit sale

East Bridgewater, MA Connie Neville, J.D. and Nick Malagisi, SIOR of the SVN National Self Storage Product Council recently brokered the sale of the U-Store It self storage business and the real property located at 15 Whitman St. in Plymouth County. This was the sale of a long-established self storage facility developed by a local operator in 1985 as an adaptive reuse project within an old, multi-story mill building. This was an all-cash transaction between a local buyer and seller. 

The property consists of 246 self storage rental units and 19,085 net rentable s/f in an 80,000 s/f building situated on 8.17 acres land. 

There is significant upside potential for the buyer to expand the self storage operations and to work with the town to realize the buildings’ full potential by exploring all options for future uses. 

The Commonwealth of Massachusetts is in the process of removing the dam on the property over the Satucket River to improve environmental conditions and wildlife habitats.