SHELBYVILLE, January 29, 2024 – Franklin Street Self-Storage announced today that it has closed the sale of Shelbyville Storage, a 17,200-net-rentable-square-foot, value-add self-storage facility, in Indianapolis MSA.
Franklin Street represented the seller, HZ Capital Partners, LLC. The buyer is Shelbyville Commercial Properties, LLC.
Built in 1990, Shelbyville Storage is equipped with modernized remote management, ensuring a seamless transition to new ownership. The facility presents an opportunity to increase revenue through consistent rent hikes for the current tenant base and optimizing ancillary and tenant insurance income streams.
Located at 450 Industrial Park Drive in Shelby, Indiana, within the Indianapolis-Carmel-Anderson MSA—the state’s largest with over two million residents—the facility holds promising market potential.
Leading the successful transaction was the Franklin Street Self-Storage Investment Sales team, skillfully guided by Senior Directors Frank DeSalvo and David Perlleshi.
Brandon Hicks, HZ Capital Partners, LLC, the seller, expressed satisfaction with the transaction: “Frank and David successfully sold six self-storage facilities for us at prices beyond our expectations. I highly recommend them for anyone looking to sell a storage deal on the open market. They can broker deals in almost any state.”
For more news, videos and research resources, please visit Franklin Street’s Information Exchange.
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.
