Staten Island, NY Nick Malagisi, SIOR, national director of the SVN Self Storage Council has completed the recent sale of the Victory Self Storage facility for $5.199 million. Malagisi represented the buyer, Andover Properties of New York, and Del Smith partners represented the seller, a family trust that was the original developer of the property.
Andover operates under the trade name, Storage King, and will re-brand the property along with making several improvements, including the removal of a single family home to build a new two-story, climate control building.
Victory Self Storage has 439 rental units in 14 single story pre-engineered steel buildings plus a free standing office with apartment in 38,345 net rentable s/f and a free-standing cell tower. The facility has consistently operated at 90-95% occupancy.