Storage Pros Sells Knoxville Self Storage Portfolio

NGKF Capital Markets Self Storage Group represented Storage Pros Management LLC in trading the 415,616 square feet of depository space.
One of the Storage Pros facilities in Knoxville, Tenn.

One of the Storage Pros facilities in Knoxville, Tenn.

Knoxville, Tenn.—Commercial real estate advisory firm, NGKF, recently announced the sale of the Storage Pros Knoxville, TN eight-facility portfolio. Storage Pros Management LLC was the seller, while the buyer and the price of the transaction were not disclosed.

The eight facilities are located across the Knoxville MSA and are all found within a 20-mile radius. This geographic positioning allows for favorable pricing power and online marketing presence in Knoxville metro area. The portfolio consists of eight facilities with a total of 415,616 square feet of self storage space and 23,500 square feet of outside parking space.

Aaron Swerdlin, executive managing director and Kenneth Cox, senior managing director at NGKF represented the seller. They have led more than $5 billion in self storage transactions during their careers.

“Aaron and Kenneth managed this transaction with their usual diligence, while providing excellent strategic guidance along the way. As has been our experience with them over the years, the outcome exceeded our expectations,” said David Levenfeld, CEO of Storage Pros Management, in a prepared statement.

Image courtesy of NGKF