The facility was 99% occupied at the time of sale.
HUNTERSVILLE, March 13, 2024 – Franklin Street Self-Storage has arranged the sale of West Huntersville Storage Center, a 35,218-net-rentable-square-foot self-storage facility. Situated just 10 miles North of Downtown Charlotte, N.C., the center offers convenient access to urban and suburban areas.
Franklin Street represented the seller, Long Creek Enterprises, and the buyer is North Carolina-based Canvass Capital.
West Huntersville Storage Center features a diverse range of storage solutions, including climate-controlled units, dehumidified units, non-climate units, and outdoor vehicle parking. Notably, the sale also encompasses a 2,000 square foot pet shop and a cell tower, presenting additional revenue opportunities.
Leading another successful transaction was the Franklin Street Self-Storage Investment Sales team led by Senior Directors Frank DeSalvo and David Perlleshi.
“Collaborating with Frank and David on the West Huntersville Storage Center transaction streamlined the process for us. We found the experience of working with them enjoyable and are excited about leveraging their expertise for upcoming future deals,” said Peter Cai, Managing Partner at Canvass Capital.
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About Canvass Capital LLC:
Canvass Capital LLC (“Canvass”) is a real estate private equity firm focused on generating attractive risk-adjusted returns for its investors in individual assets and platform investments across cycles and over the long term. Barings, one of the world’s largest diversified real estate investment managers, recently entered into a joint venture agreement with real estate investment management firm Canvass Capital LLC (“Canvass”) to acquire and develop self-storage properties throughout the Southeastern United States. The joint venture called National Self-Storage Program JV LLC seeks to invest up to $250 million of equity into the self-storage space over the next several years. For more information on Canvass Capital LLC, please visit: www.canvasscap.com.
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.
