Orchard Park, NY Nick Malagisi, SIOR and national director self storage for SVN Commercial Real Estate Advisors, recently facilitated the sale of the A2Z Self Storage facility at a sale price of $4 million.
Nick Malagisi, Sperry Van Ness Commercial Realty Nick Malagisi, Sperry Van Ness Commercial Realty The facility was originally developed by a local partnership in 2005 and then expanded a few years later. The facility has 370 rental units within 40,542 net rentable s/f and 30 outside parking spaces for campers/RV’s.
Malagisi was assisted in the sale by Howard Kravetz of ReMax-Rochester. The buyer is Public Storage, a national operator with eight other facilities in the Metro Buffalo area.
SVN Commercial Real Estate Advisors offer both national reach and local expertise across all self storage property types and provide in-depth knowledge of this unique investment type, including representation in more than 100 markets across the United States. The self storage industry is increasingly becoming a desired investment commodity, gaining the attention of investors on both a national and international level. What further sets this specific asset class apart is that self storage properties are not just real estate, but also business investments that require a unique understanding of the business model.