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| Celebration Self Storage, 475 Celebration Place, Celebration, FL |
TAMPA, FL -- Brown Gibbons Lang & Company | Real Estate
Partners (BGLRP) is pleased to announce the sale of Celebration Self Storage
a 57,233 net rentable square foot self storage facility for $11.25 million
dollars or $196.56 per net rentable square foot, in Celebration, Florida.
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| Jay J. Crotty |
Jay J. Crotty, Managing Director at BGLRP, and Thomas A.
Doyle, Senior Vice President at BGLRP, represented the seller, Celebration Self
Storage LLC, and the buyer, Sovran Acquisition Limited Partnership, which
operates under the Uncle Bob’s Self Storage brand.
“This sale represents a record for one of the highest prices
per square foot in the state of Florida. The price demonstrates the strong
operating fundamentals in the self storage market and the continued positive
outlook for future job and population growth in the state,” says Jay Crotty.
The subject property, located at 475 Celebration Place in
the master planned community of Celebration, Florida, is situated on
approximately 13.28 acres of land.
This community was developed by the Walt Disney Company and
has very high barriers to entry for any new construction.
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| Thomas A. Doyle |
“This allows Celebration Self Storage to effectively create
its own market, as there are no competing self storage facilities within a
seven-mile drive of the facility,” says Crotty.
Built in 2006 and expanded in 2008 and 2012, this facility
has 233 climate controlled storage units, 113 non-climate controlled storage
units, along with 115 rentable parking spaces for RV and boat storage.
Brown Gibbons Lang
& Company Real Estate Partners (BGLRP) operates in major markets in the
U.S., representing private and institutional clients in Healthcare, Housing,
Hospitality, Self Storage and Industrial real estate.
BGLRP was founded by industry veterans with significant
experience in each focus sector, totaling more than $5B of closed transaction
volume.
BGLRP focuses on delivering
best-in-class representation and advisory services to help our clients maximize
the value of their real estate assets utilizing leading-edge financial,
marketing, legal, and tax strategies to help our clients pursue advanced
strategies and create value.
BGLRP’s Self Storage Group takes a methodical, systematic
approach to the business of self storage investment sales, ensuring that every
detail gets attended to during the transaction and no stone goes unturned.
We work hard to understand the needs,
objectives and goals of our clients and work together to implement a strategy
tailored to each individual client. We
collaborate with our clients by executing open and candid communication.
For more information, please visit www.bglco.com
For a complete
copy of the company’s news release, please contact:
Thomas A. Doyle | Senior Vice President
Brown Gibbons Lang | Real Estate Partners
T: 813.712.8767 | C: 813.892.7703
FL RE Salesperson | LIC # SL3093911
Jay J. Crotty | Managing Director
Brown Gibbons Lang | Real Estate Partners
T: 813.712.8767 | C: 813.892.9080
FL RE Broker | LIC # 3061418
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