Franklin Street Self-Storage closes sale of 36,823-net-rentable-square-foot self-storage facility in Alabama’s 11th largest MSA
ANNISTON, January 19, 2024 – Franklin Street Self-Storage announced today that it has closed the sale of Leatherwood Self Storage, a 36,823-net-rentable-square-foot, value-add self-storage facility located in Anniston, Alabama.
Franklin Street represented the seller, California-based Leatherwood Storage, LLC, and the buyer is Alabama-based Pilot Self Storage Anniston, LLC.
Built in 1992 and renovated in 2000 and 2004, the facility comprises 36 climate-controlled units, 132 non-climate-controlled units, and three retail shop spaces. Recent capital improvements include keypad installation for remote access, gate enhancements, additional security cameras, multiple roll-up door replacements, asphalt seal and stripe, and HVAC unit replacements.
Located at 3807 US-431, Leatherwood Self Storage sees a daily traffic count of 21,379 vehicles per day. The Anniston-Oxford MSA has a population of nearly 116,000, a household income of approximately $79,000, and a low market saturation rate of 6.7 square feet per capita for self-storage within a five-mile radius.
The Franklin Street Self-Storage Investment Sales team led by Senior Directors David Perlleshi and Frank DeSalvo, played a pivotal role in the success of this transaction.
“Frank and David did an incredible job bringing this deal to completion. With a deep understanding of the market and a wealth of experience, they navigated the process seamlessly. Their persistence in overcoming hurdles was remarkable. Communication was excellent. I will certainly engage them for future deals,” said Will Van Die, Leatherwood Storage, LLC.
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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.
