US Storage Centers has purchased Philly Self Storage, a 107,606-square-foot facility in Philadelphia. The asset will be rebranded as US Storage Centers. SVN Commercial Realty represented both parties in the transaction.
Located at 1910 S. Cristopher Columbus Blvd., the property is near Interstate 95, in a densely populated area. According to Yardi Matrix, approximately 302,599 people live within a three-mile radius, with roughly four net rentable square feet of self storage space per capita. Completed in 2008, the facility occupies nearly three acres and features 1,545 units, ranging from 25 to 180 square feet. Characteristics of the property include climate control, electronic gated access carts and dollies and RV Parking.
“We are proactively looking for new investment and development opportunities that fit our growth strategy. This property is the perfect complement to our existing portfolio,” said Charles Byerly, president & CEO of US Storage Centers, in prepared remarks. “It is located in a high-traffic, heavily populated and underserved self storage market.”