Self-Storage Facilities in Ellenwood and Warner Robins, Ga., Change Hands
|Copyright 2014 by Virgo Publishing.|
|Posted on: 08/20/2012|
North Henry Self Storage in Ellenwood, Ga., and All-American Self Storage in Warner Robins, Ga., were recently sold in separate transactions.
The Ellenwood facility at 1955 Panola Road sold for $2.4 million at an 8.47 percent cap rate. The 48,281-square-foot property was 87 percent physically occupied at the time of sale. North Henry Self Storage, built in 1986 and renovated in 1999, comprises 181 conventional storage units, 43 climate-controlled units, 69 outdoor parking spaces and 15 offices/warehouses. It sits on 6.5 acres.
Henry County is one of the nation's fastest-growing counties. The area has experienced strong population growth since 2000.
All-American Self Storage at 202 Osigian Blvd. sold for $2.5 million at a 15.07 cap rate. The 38,675-square-foot property was 70 percent physically occupied at the time of sale. Built in 2002, the facility has 262 climate-controlled units and sits on 2.59 acres.
Warner Robins has experienced 129 percent population growth since 2000. The market's median household income is $55,326.
Stacey Gorman of Marcus & Millichap Real Estate Investment Services represented the buyers and sellers of both transactions. Gorman joined the company in 2002 and has actively negotiated the sale of more than 45 properties representing more $96 million in real estate. She specializes in self-storage transactions.