Atlanta Area Self-Storage Sells for $5M

Atlanta—Southeast self-storage broker Midcoast Properties Inc. brokered the sale of Premier Storage located in Commerce, Ga. The property was sold to an out of state buyer for the price tag of $4.9 million, which translates to $74 per square foot. Dale Eisenman, CCIM of Midcoast Properties, represented the seller and handled marketing duties for the listing.

Located at 95 Homer St., the facility totals more than 65,000 rentable square feet with 441 self-storage units located on more than 5 acres. The nine-building property offers climate and regular drive-up units, as well as traditional ones. Additionally, the facility offers a rental office with retail display area, RV, car and boat7 parking space and security cameras. At the time of the deal, the property was 90 percent occupied. Premier Storage is located close to Georgia State Routes 15, 51, and 164.

Midcoast Properties Inc. offers brokerage services in the Carolinas, Georgia and Alabama. The company serves self-storage owners, buyers, industry members and investors.

Images courtesy of Storage Management Inc.