A private self-storage investor based in North Carolina has purchased I-95 Mini Storage in St. Pauls, N.C., for $900,000. The buyer formed a limited-liability company to acquire the property, according to a press release from Midcoast Properties Inc., the commercial real estate firm that brokered the transaction.
Opened in 1992, the facility at 1149 W. Broad St. is situated on 2.3 acres and includes 29,755 net rentable square feet of storage space in 224 standard and climate-controlled units. The seven-building property underwent several expansions through 2008, the release stated. It features gated access, video cameras, and a retail office that sells moving and packing supplies.
Dale C. Eisenman, president of Midcoast Properties, represented the seller deal, assisted by fellow broker Michael Morrison. The company is a commercial real estate company that offers brokerage services in Georgia, North Carolina and South Carolina.