Investment Real Estate, LLC arranges sale of two property portfolio in Montgomeryville, PA
Montgomeryville, PA — Investment Real Estate, LLC announced the sale of a two property portfolio in Montgomeryville for $5.2 million to a private investment group. The portfolio includes Xtra Space Self Storage and Montgomeryville Mini Storage, both of which are located about two miles apart on the heavily traveled Bethlehem Pike (Route 309) in Montgomery Twp., Montgomery County. Xtra Space Self Storage consists of four buildings and includes both drive up and temperature controlled units totaling 44,775 s/f of self storage. This facility opened in 1989 and is situated on around four acres of light industrial zoned land. Xtra Space Self Storage features improvements such as masonry and metal buildings, paved driveways, exterior lighting, fenced perimeter and an electronic security gate with key-code access.
Montgomeryville Mini Storage consists of two buildings and includes drive up, interior access and temperature controlled units totaling 22,400 s/f of self storage. The property also boasts 66 outdoor parking spaces. The facility opened in 1988 and is situated on over two acres of light industrial zoned land, with the potential for expansion on a three acre adjacent site. Montgomeryville Mini Storage features improvements such as paved driveways, exterior lighting, camera system, fenced perimeter and automatic gate. Both properties are located on heavily traveled Route 309 and enjoy excellent visibility, and offer an on-site rental office with business hours six days a week. They also feature WHAM door alarms on every storage unit for added security. “These properties have operated success/fully for many years but are now ready for cosmetic and management upgrades. The buyer realized this upside and was willing to meet the seller in the middle on the pricing so that all parties feel they received a fair deal,” said John Gilliland, president, who has worked with the sellers for many years assisting them in their self storage investments.