Stor Mor Self Storage in Carlisle, Pa., recently sold for $1.7 million to a private-investment group. Opened in 1986, the property at 1910 W. Trindle Road features 19 single- and two-story buildings comprising 40,100 square feet of storage space. Situated on 8 acres, it has 316 storage units as well as 15 outside parking spaces, with room for expansion. Property features include gated access, lighting, perimeter fencing and an onside rental office. Stor Mor is about 14 miles west of Harrisburg, Pa.
The sale included a three-year land lease to a national truck-driving school, according to a press release from Investment Real Estate LLC (IRE), the real estate investment group that brokered the transaction. IRE helped solidify the lease as part of the sale. The company received multiple competitive offers for the facility, and accepted the one that had the fewest concessions as part of the agreement, the release stated.
“Our firm has had a long-standing relationship with the seller and the buyer of Stor Mor Self Storage, and we were happy to bring both parties together to complete the sale of this facility,” said John H. Gilliland, president and CEO of IRE.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors. Its construction arm was founded in 2000 and has built more than 2 million square feet of self-storage space in eight states.