North Carolina-based American Self-Storage acquired the facility
ARCHDALE, N.C. (February 15, 2023) – Franklin Street has arranged the sale of a 166-unit, 20,000-net-rentable-square-foot, value-add self-storage facility in Archdale, North Carolina, within the Piedmont-Triad MSA.
Franklin Street’s National Self-Storage Investment Sales Team of David Perlleshi and Frank DeSalvo represented the seller, Michigan-based Porchlight Property Group LLC, in the disposition. The buyer is American Self-Storage, a company that specializes in the acquisition of self-storage properties in North Carolina.
“It was incredible how quickly the buyers and sellers worked together to close this deal. From LOI, contract to closing took only two weeks,” said Perlleshi. “This is by far the fastest deal we’ve ever closed and both sides are very pleased with the transaction. We are looking forward to doing business with both parties in the future.”
Built in 2007, the facility is ideally structured for remote management and holds the opportunity to increase revenue through lease-up and stabilization. Property features include security cameras and keypad access.
“Frank and David were a pleasure to work with on this transaction. Both were very professional and made the process quite easy. They’re highly recommended,” said Mitchell Pater, Owner of Porchlight Property Group.
At 5627 Prospect St., the facility sits on 2.21 acres and is well-positioned off the I-85 business loop, which sees excellent drive-by traffic.
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.