Dillsburg Rent-A-Space in PA Sold to First-Time Self-Storage Investor for $650K

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Dillsburg Rent-A-Space, a 17,040-square-foot self-storage facility in Dillsburg, Pa., recently sold for $650,000. Dillsburg is in York County, about 10 miles south of Harrisburg. The storage facility at 107 N. Second St. is off Route 15 and partially visible from the highway. It opened in 1984 and was built in several phases, with the last one completed in 2002.

Dillsburg-rent-a-space-self-storage***The facility currently has six buildings on 1.3 acres of commercially zoned land. The main building houses the management office as well as one extra-large unit for RV storage. The property is accessible to tenants 24 hours a day.

Improvements to the property were recently completed, according to the source, including upgrades to the single-story metal buildings, metal roofs, gravel driveways and exterior lighting, and a refurbishment of the onsite rental office.

Investment Real Estate LLC (IRE) of York, Pa., brokered the transaction. “This is a neat transaction in that we sold the property to the current seller many years ago, and now they have made their money and are moving on,” said John H. Gilliland, IRE President and CEO. “The buyer is a first-time self-storage investor who is poised to take this property to the next operating level, making a great return over time as well.”

IRE is a property-management and consulting firm specializing in the self-storage industry. Since its inception in 1998, the company has provided brokerage, construction, management and development services to facility owners and investors.

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