Budget Store & Lock Self Storage has acquired Douglassville Self Storage in Douglassville, Pa., for $3.5 million. The property at 19 Broadmoor Blvd. is off U.S. Route 422, between Pottstown and Reading in Berks County.
The facility sits on 9 acres and comprises 10 single-story buildings. Opened in 2008, it contains 400-plus units and 50 outdoor parking spaces. It also has zoning approval for expansion. Site improvements include decorative fencing, a keypad-controlled gate, paved driveways
, and video cameras.
“This sale is the seventh property Investment Real Estate has sold to Budget Storage, [which] operates in the Lehigh Valley and surrounding areas. We have enjoyed a great relationship with Mike and Joe, and look forward to continuing to help them grow their portfolio,” said John Gilliland, CEO and president of Investment Real Estate LLC (IRE), which brokered the transaction.
Budget Store & Lock operates 21 storage facilities in Pennsylvania. The properties offer moving and packing supplies as well as rental trucks.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors. Its construction arm, founded in 2000, has built more than 2 million square feet of self-storage space in eight states.