Self-Storage REIT Buys Storage 2000, Storage Central Portfolio in the South

Storage 2000 and Storage Central, a four-property storage and RV portfolio in the South, recently sold to a self-storage real estate investment trust. The portfolio encompasses more than 383,000 rentable square feet of storage space in more than 2,540 units. It includes the Storage 2000 properties in Cayce, S.C., and Fredericksburg and Stafford, Va., and Storage Central in Raleigh, N.C., which opened in 2010 as an RV- and boat-storage center.

Storage 2000 and Storage Central, a four-property storage and RV portfolio in the South, recently sold to a self-storage real estate investment trust. The portfolio encompasses more than 383,000 rentable square feet of storage space in more than 2,540 units. It includes the Storage 2000 properties in Cayce, S.C., and Fredericksburg and Stafford, Va., and Storage Central in Raleigh, N.C., which opened in 2010 as an RV- and boat-storage center.

The portfolio is comprised of 30 storage buildings on more than 30 acres. Several of the facilities have undergone expansions over the years. In addition, Storage Central and the Storage 2000 property in Cayce offer additional expansion opportunities. Property features and services include drive-up and climate-controlled units, enclosed RV and boat storage, video cameras, computerized gate entrance, onsite truck rental, and moving and packing supplies.

The properties sold for more than $100 per rentable square foot, according to a press release from Midcoast Properties Inc. Dale C. Eisenman, president and broker-in-charge of Midcoast Properties, brokered the transaction.

Midcoast Properties offers brokerage services to self-storage owners and investors in Georgia, North Carolina and South Carolina.

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