Mississippi-based buyer acquires newly built self-storage facility across 2.8 acres of land
HATTIESBURG, MS (May 3, 2023) – Franklin Street has arranged the sale of Hattiesburg Climate-Controlled Storage, a 404-unit, 50,225-net-rentable-square-foot self-storage facility in Hattiesburg, Mississippi.
Franklin Street’s National Self-Storage Team of Frank DeSalvo and David Perlleshi brokered the transaction on behalf both the buyer, Mississippi-based Anderson Construction of MS and the seller, Atlanta-based Highline Storage Partners.
Located at 7329 US-98, the new facility is a climate-controlled, new build with modern amenities and security features, including keyless entry and video surveillance.
“It was a pleasure representing both the buyer and seller in the closing of this brand-new climate-controlled self-storage facility,” said Frank DeSalvo, Senior Director. “The strategic location of the facility along a heavily trafficked highway, strong market demand for climate-controlled storage in the area, and favorable demographics made this an excellent investment opportunity.”
DeSalvo added, “We are pleased to have brought this deal to fruition, and we look forward to continuing to collaborate with clients who are seeking valuable investment opportunities throughout the U.S.”
Ben Snavely, from Highline Storage Partners, LLC, praised the Franklin Street team for their professionalism and diligence, saying “Frank and David were great to work with from start to finish. They were professional throughout the whole process and represented the seller exceptionally well.”
“Their attention to detail and well-round knowledge of the process from LOI to close made for a smooth transaction. They both have immense experience in this space, and we look forward to working with them in the future,” added Snavely.
Rob Hunt, from Anderson Construction of MS, added, “Working with Frank and David was a great experience, and we couldn’t have done this without them. They helped us navigate a tough market, and they were able to achieve a great deal for all parties involved. Not only are they excellent at their jobs, but they are also both great guys who care about their clients. We look forward to many more deals with them!”
Notably, the facility is located near landmarks including the University of Southern Mississippi, which has an enrollment of approximately 15,000 students, and a rapidly growing population of 172,507 residents in the Hattiesburg metropolitan area.
The deal marks another successful transaction for Franklin Street’s National Self-Storage Team, which continues to provide exceptional advisory services to clients across the U.S.
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.