The Store House, a self-storage facility in Pearl, Miss., sold on June 30 to an out-of-state investor for $1 million. The facility is comprised of 55,238 square feet and 400 units on 3.06 acres.
Bill Barnhill, Shannon Barnes and Stuart LaGroue of Omega Properties Inc. represented the seller, a Louisiana bank. The buyer was represented by Ricky Lennard of Lennard Properties LLC. All of the brokers are part of the Argus Self Storage Sales Network. Barnhill, Barnes and LaGroue are the Argus broker affiliates for the Mississippi, Alabama and Florida Panhandle markets.
An Argus broker, Linda Cinelli of LC Realty, also represented the seller and buyer in the acquisition of Paramount Self Storage in Stanhope, N.J. Cinelli is the Argus Self Storage Sales Network broker affiliate for the Northern New Jersey and NYC/Long Island markets.
The 49,466-square-foot property sold on June 23 to a national self-storage buyer for an undisclosed price. The property was attractive to buyers due to its close proximity to major highways, variety of units and U-Haul truck-rental dealership.
The facility features six buildings on six acres of land and nearly 450 units in various sizes, plus climate control. It also includes a retail store with items such as boxes, locks and packing supplies.