CBRE brokers sale of Virginia self-storage properties for $14M

Who says self-storage properties aren’t selling? CB Richard Ellis just arranged the sale of two self-storage facilities totaling 1,438 units in Norwalk and Virginia Beach, Va., for $14 million.

Burnette Development, the seller, was represented in by Michael Howard, Steve Hryszko and Hal Yuill of CBRE’s Norwalk office. The two Class A properties contain a combined 170,000 square feet and sold for $82.35 per square foot.

Class A properties are still in demand. Keeping a good marketing campaign running, including a website and on-site marketing, can help you portray the best image for your facility in the eyes of investors.

Add comment August 26th, 2008