The transaction includes facilities in Billerica, North Andover and Brockton, all of which were constructed within the last three years. Two other properties in Taunton and Newington, CT, which were also acquired in the deal, previously served as industrial buildings before being converted into self-storage facilities. The total portfolio, which is 80% occupied, closed at a price of $69.73 per sf.
The transaction was handled for both the seller and the buyer by Nick Malagisi, with Sperry Van Ness in Williamsville, NY, Connie Neville, with Sperry Van Ness in Lexington, and Patrick Lemp, with Self-Storage Consultants of Hartford. Alex Berger along with Brandon and Scott Kelly, with R.J. Kelly Co., also represented the seller, which is a subsidiary of R.J. Kelly.
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