MONCKS CORNER, SC | The LeClaire-Schlosser Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of CubeSmart (Managed), a66,875 net rentable square foot storage facility located in Moncks Corner, South Carolina.
Ian Lindahl, Investment Associate, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office had the exclusive listing to market the properties on behalf of the Seller, Tridas Properties, a regional storage developer. “This was anexcellent transaction in Moncks Corner, SC, which had a very competitive bidding process due to the quality of the asset’s location in the heart of a fast-growing Charleston SC MSA suburb,” said Lindahl. “Our client was able to take advantage of the competitive storage market and get this deal done in a tumultuous interest rate market.” The Buyer, a privately held self-storage investment company based in Philadelphia, was also secured by Ian Lindahl and Adam Schlosser. “This property fit into the buyer’s portfolio very well and they are excited to expand their footprint in the Southeast US,” added Lindahl.
“Our client was able to take advantage of the competitive storage market and get this deal done in a tumultuous interest rate market.”
The facility consists of eight one-story buildings made up of 263 climate-controlled units and 247 non–climate-controlled units along with 37 additional outdoor parking spaces, totaling 547 units. It features grade level loading and unloading across the property. Units are accessed via electronic gated entry with 24/7 video surveillance covering the entire property. The entirefacility is equipped with automatic lights, all on individual timers to maximize efficiency.