Grisanti Group Commercial Real Estate, a member of the ARGUS Self-Storage Sales Network, has recently sold South Oldham Self-Storage a 26,175-square foot facility with 187 units in Crestwood, Oldham County, KY. The purchase price was $1,700,000. The purchaser was a national self-storage company with facilities in multiple states. The seller was a local developer.
Paul Grisanti, Ower and Principal Broker of Grisanti Group, and Nick Grisanti, Sales and Leasing Associate with Grisanti Group, had the exclusive listing to market the property on behalf of the seller. Grisanti Group secured the purchaser and represented both parties in the transaction. Grisanti Group has brokered $11,170,000 in self-storage transactions in 2016.
South Oldham Self-Storage is in the heart of Crestwood, KY, a bustling community on the outskirts of the Louisville Metro Area. The facility was developed in 2001-2002 and consists of three buildings and outdoor parking for approximately 20 vehicles. The facility is fully fenced and has automated entry and exit gates. It has security cameras and an office for on-site management.
The self-storage/mini-warehousing industry is experiencing a boom right now, and many national and regional investment groups are looking to enter the Louisville market. Grisanti Group is poised to help self-storage owners in Kentucky, Tennessee, and Southern Indiana maximize the value of their asset by connecting them to the right buyer for their property. While the demand for these properties is growing, they don’t sell themselves. South Oldham Self-Storage was a perfect example of needing to find the perfect buyer. While many national self-storage real estate investment trusts (REITs) may have passed on this property due the size being smaller than their target range, Grisanti Group was able to identify a buyer that specializes in smaller facilities in secondary markets like Crestwood.
Call us today for a free evaluation of your self-storage/mini-warehouse property.