We are thrilled to announce the successful sale of Liberty Self Storage, a well-established and highly occupied self-storage facility located in Peru, Indiana. David Perlleshi and Frank DeSalvo led the Franklin Street team in association with Scott Reid & ParaSell Inc, a Licensed Indiana broker. Our team represented the seller, DDM Investments LLC, for the sale of the 21,000 net rentable square feet facility located on 4.87 acres.
After owning and operating this self-storage facility for over a decade, I am grateful to David and Frank for handling the sale,” Dewayne Harding said. “The Franklin Street team committed over a year to guarantee the success of this transaction and despite facing challenges that led to the deal falling out of contract at one point, their determination prevailed. They used their expertise to get it back to market, skillfully navigating offers and ultimately securing the ideal buyer. Their unwavering commitment to their clients is evident in their perseverance and ability to close deals, regardless of the obstacles encountered along the way”
Property Details:
- Address: Liberty Self Storage
- Buyer: Peru IN Ozark LLC
- Seller: DDM Investments LLC
- Year Built: 2002, 2012, & 2023
Square Footage: 21,000 NRSF | 4.87 AC
Key Features of Liberty Self Storage:
- Investment Potential: The facility offered a compelling price per square foot, creating an exceptional opportunity to enhance revenue through gradual adjustments to below-market rents and the introduction of tenant insurance sales.
- Expansion Opportunities: The expansive 4.87-acre parcel provided ample space for potential future development.
- Security Features: Equipped with solar-powered lighting and a state-of-the-art camera system, the property ensured tenants’ peace of mind and safety.
- Market Demand: With a remarkably low saturation rate of 4.1 SF per capita for self-storage within a five-mile radius, demand for this facility remained robust.
- Strategic Location: Proximity to Grissom Air Reserve Base bolstered the facility’s appeal, benefiting from a thriving local economy.
- Community: The Peru, Indiana, Micropolitan Statistical Area boasts a population of 35,516 residents and is located approximately 60 miles north of Indianapolis. Furthermore, the Kokomo-Peru Combined Statistical Area ranks as the 8th largest in Indiana, with a total population of 118,060.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management, and Project Management. With $10 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide.
