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| Barbara Guffey |
HOUSTON, TX –
Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of a
two-property Ace Self Storage portfolio
totaling 630 units and 95,878 rentable square feet in upstate New York.
HFF marketed the portfolio on behalf of the seller, Real
Estate Technology. World Class Capital
Group, LLC purchased the assets as their first self storage acquisition into
the New York market.
The 94.8-percent-occupied portfolio is comprised of a
388-unit property located at 735 and 765 South Street in Newburgh and a
241-unit facility at 1594 Route 9G in Hyde Park, New York.
Three buildings – two self-storage buildings and one
warehouse leased to three commercial tenants – comprise the Newburgh property,
which is located just south of Interstate 84 off of Exit 5B in a community on
the Hudson River 60 miles north of New York City.
The Hyde Park property includes eight buildings and a
stand-alone management office. The asset
is situated between Partridge Hill Road and Deer Hill Road on Route 9G in a
residential community located between New York City and Albany. Additionally, the Hyde Park property has 12
RV parking spaces.
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| Ace Storage, Hyde Park, NY |
Both properties
include climate and non-climate controlled units and on-site management.
The buyer plans to expand the facilities to
add additional units.
The properties
will be rebranded and managed by Great Value Storage, the firm’s wholly-owned
storage management platform.
The HFF self storage team representing the seller was led by
director Barbara Guffey.
“The portfolio appealed to the buyer since it was stabilized
with a strong cash flow stream, and offered expansion opportunities at both
locations,” Guffey said.
For a complete copy
of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
.
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