Strategic Transactions Enhance Portfolio and Highlight Industry Expertise
Corning, NY – Glenmont, NY – Franklin Street is proud to announce the successful sale of two self-storage facilities: All Purpose Storage, located at 380 Park Ave, Corning, NY 14830, and Storage Express at 721 River Rd, Glenmont, NY 12077. Frank DeSalvo and David Perlleshi from Franklin Street expertly represented the seller in these transactions.
The All Purpose Storage facility in Corning, NY boasts impressive occupancy levels coupled with robust in-place rental rates, totaling 39,400 NRSF. The facility is fully fenced and outfitted with state-of-the-art security cameras, complemented by a 24/7 call center, all situated within a vibrant neighborhood that features an average household income of $96,867 within a 5-mile radius.
Meanwhile, the Storage Express facility occupies a sprawling 8-acre site with significant potential for future expansion. This fully fenced property is equipped with environmentally friendly roof-mounted solar panels and offers a diverse unit mix, including drive-up units totaling 32,871 NRSF along with 134 open parking units. With an average household income of $124,042 within a 3-mile radius, there exists considerable upside potential through lease-up and rental increases.
Both properties were acquired by an undisclosed in-state buyer.
Jeremiah Boucher from Patriot Holdings, LLC noted, “Frank and David have aided in transactions for several of our self-storage facilities nationwide. Their extensive industry knowledge, combined with years of experience, exemplifies why we continue to partner with their team at Franklin Street. Their network of buyers is unparalleled, consistently delivering exceptional results for their clients.”
These strategically located facilities are well-positioned to attract a diverse clientele, ensuring a solid investment for the new owners. At Franklin Street, we remain committed to excellence, fostering strong relationships, and delivering personalized service, reinforcing our position as leaders in the industry.
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 $10 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.
