The new-to-market buyer is Wisconsin-based Just Simple Storage
WATSEKA, IL (April 10, 2023) – Franklin Street has arranged the sale of a 104-unit, 12,600-net-rentable-square-foot self-storage facility in Watseka, Illinois, a submarket located 60 miles east of Champaign.
Franklin Street’s National Self-Storage Team of Frank DeSalvo and David Perlleshi represented the seller, Houston-based Pebble Ridge Capital, in the disposition. The new-to-market buyer is Wisconsin-based Just Simple Storage, which currently operates facilities in Michigan and Wisconsin.
“It was great working with both Faraz and Jason to get this deal across the finish line. The deal had its fair share of obstacles, but both the buyer and seller were fair and worked towards resolving all issues prior to close,” said Frank DeSalvo. “This is the second self-storage deal our team has completed in Illinois within the past six months, and we are excited to continue to push into new markets in the Midwest.”
“It was a pleasure to collaborate with this team on our first out-of-state self-storage purchase,” said Jason Meyers, owner of Just Simple Storage. “The team was responsive and communicative, which is particularly important to us. I am already looking forward to the next deal I can do with this team!”
“This is a very professional team. They clearly know what they are doing,” said Faraz Hemani, owner of Pebble Ridge Capital. “They vetted and found the best buyer, while pushing the deal along through all obstacles.”
Located at 1090 E Walnut St., the property occupies 1.07 acres and 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 company has offices in Fort Lauderdale, Jacksonville, Miami, Orlando, Atlanta and Chicago. Learn more about Franklin Street at FranklinSt.com.