Jasper, AL (September 27, 2023) – Franklin Street has arranged the sale of Jasper Storage Units, a 31,659-net-rentable-square-foot, 272-unit, value-add self-storage facility in Jasper, Alabama.
Franklin Street’s National Self-Storage Investment Sales Team of Frank DeSalvo and David Perlleshi, arranged the sale on behalf of the seller, Chicago-based Self Storage Syndicated Equities, in the transaction. The buyer is Gensis Storage.
“We’re pleased to be part of Jasper Storage Units’ successful ownership transition. This transaction highlights growth potential, creating a unique opportunity for investors and the community,” said DeSalvo and Perlleshi.
Built in 1987, the facility allows for high upside through rent increases, with low economic occupancy presenting opportunities to capture increased revenue through efficient leasing and management. Additionally, the property is configured for remote operations, allowing for a seamless transition to the new ownership.
Located at 1110 1st St. NW, the facility is conveniently located in close proximity to Parkland Plaza Shopping Center and State Route 5, which sees an average of 11,377 vehicles per day.
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.
