NKF Capital Markets Self Storage Group Announces Sale in Boston Suburb of Peabody, MA

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The 488-unit self storage facility generated a lot of interest from a wide pool of potential purchasers as investor sentiment in the sector remains strong.

NKF Capital Markets Self Storage Group has completed the sale of a well-established 488-unit self storage facility located in the Boston suburb of Peabody, Massachusetts. The 39,600 square foot facility includes a three-story building on 1.6 acres of land. The property was purchased by Utah based Wasatch Storage Partners, LLC (http://www.wasatchstoragepartners.com).

NKF Capital Markets professionals Aaron Swerdlin, Vice Chairman, Kenneth Cox, Executive Managing Director, and Geoffrey Millerd, Vice Chairman, led the national self storage capital markets team representing the seller.

“Interest in the facility was strong with a wide pool of potential purchasers including, owner/operators, private equity funds and public REITs,” said Cox. “Given the facility's strategic position between the primary commercial district, multifamily housing and several bedroom neighborhoods; the purchaser will continue to maintain high occupancies with positive rate growth.”

“The storage industry continues to be very appealing to the institutional community as investor confidence continues to be elevated,” added Cox.

NKF Capital Markets Self Storage Group provides unmatched brokerage transaction and financial services through a deep understanding of the complex self-storage property type combined with a unique knowledge of the local markets across the U.S. to provide expertise in every aspect of buying, selling, financing, capitalizing and owning a single property or national portfolio. The Group has a combined 45-years’ experience in the self storage industry and has completed in excess of $6 billion in transactions across more than 540 properties.

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Taucha Hogue
@NKFSelfStorage
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