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Duo of Self-Storage Sites Commands $4M

LORDS VALLEY, PA-The two Lords Valley Self Storage facilities aggregating 420 units include a small office/apartment building in one location and room to grow at the other.

By Marita Thomas | Updated on December 08, 2006

LORDS VALLEY, PA-Booker Smith, the owner of Lords Valley Self Storage, has sold the four-acre main facility on Rte. 739 here and a 4.9-acre satellite location five miles away in Greeley to PA Real Estate Two LLP, another area investor, for $3.9 million. The new owner will continue to maintain both properties as self-storage facilities and plans to expand at the Greeley location.

The Lords Valley site consists of 33,000 sf of storage units in five buildings and also has a 3,000-sf office building with three leased rental apartments, according to Chuck Shields. Shields, vice president of Conshohocken-based Beacon Commercial Real Estate, is also a broker-affiliate of the Aurora, CO-based Argus Self Storage Sale Network, which is a network of independent brokers nationwide who specialize in self-storage. Shields was the sole broker in this transaction.

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