The buyer is Missouri-based On Track Storage
WAUSEON, OH (February 15, 2023) – Franklin Street has arranged the sale of a 100-unit, 9,950-net-rentable-square-foot self-storage facility in Wauseon, Ohio, a submarket located 30 miles west of Toledo. The value-add property sits on 1.21 acres and includes 0.3 acres of developable land for potential expansion.
Senior directors David Perlleshi and Frank DeSalvo, who lead Franklin Street’s national self-storage investment sales practice, represented the seller, HZ Capital Partners, LLC, in the disposition. The buyer is Missouri-based On Track Storage, which currently operates facilities in Missouri and Kansas.
“We are pleased to have now represented HZ Capital Partners in the successful disposition of four self-storage assets over the last nine months,” said DeSalvo. “We appreciate both sides making this transaction smooth, and we congratulate On Track Storage on their acquisition of a great facility with a lot of upside.”
Built in phases between 1989 and 1994, the facility features 10 parking spaces and newly installed security cameras with remote viewing. Further, value-add opportunities include raising market rents, implementing tenant insurance and utilizing available expansion room. At 402 W Leggett St., the property has limited competition within a 5-mile radius.
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 $7 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. Learn more about Franklin Street at FranklinSt.com.
