HOUSTON, TX – The Houston-based self storage group of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Secure Self Storage, (bottom right map) a 71,025 rentable-square-foot property in New Bedford, Massachusetts.HFF represented the seller, The Veritas Group, LLC, a New York City-based real estate investment company that develops, acquires and manages self storage facilities in the Northeast and Mid-Atlantic regions of the U.S. and eastern Canada.
The buyer was an affiliate of Storage Opportunity Partners LLC, a firm headquartered in Farmington Hills, Michigan and Newton Highlands, Massachusetts that specializes in the acquisition, d
evelopment, management and disposition of self storage facilities.
evelopment, management and disposition of self storage facilities. Located 45 minutes south of Boston at 376 Hathaway Road in New Bedford, at the interchange of Interstate 195 and State Route 140, the 517-unit, Class A facility was constructed in 2003.
“This facility offers a strong fit for Storage Opportunity Partners’ real estate portfolio. It is located at the intersection of two major thoroughfares that provide outstanding visibility and access to the property,” said Steve Mellon,(top right photo) HFF managing director.
“We are extremely pleased to complete this transaction, esp
ecially given the challenging economic conditions we are all experiencing,” said David Levenfeld, (bottom left photo) principal and co-founder of Storage Opportunity Partners.
ecially given the challenging economic conditions we are all experiencing,” said David Levenfeld, (bottom left photo) principal and co-founder of Storage Opportunity Partners.“We are highly optimistic about achieving operating synergies by adding this facility into our portfolio of properties in Eastern Massachusetts.”
CONTACTS:
Aaron Swerdlin, HFF Senior Managing Director, 713 852 3537, aswerdlin@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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