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Sperry sells CT facility.

Sperry Van Ness Storage Realty and Self Storage Consultants have completed the sale of Taylor Street Self Storage, a 549-unit self storage facility, to Public Storage, Inc. for $4.3 million. The facility is located at 100 Taylor Street in Manchester, CT.

Nick Malagisi of Sperry Van Ness Storage Realty in Williamsville, NY and Patrick Lemp of Self Storage Consultants represented the seller, Taylor Street Self Storage, LLC. Malagisi and Lemp also represented the buyer. According to Malagisi, the sale closed at an 8.2 percent cap rate.

Taylor Street Self Storage consists of 549 rental units within 52,775 net rentable square feet and is situated on 3.79 acres of land. The facility was built in three phases beginning in 2002 with the last two buildings coming online in June of 2004. The facility was 91 percent occupied at the time of sale.
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Article Details
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Title Annotation:self service storage facilities
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 4, 2006
Words:145
Previous Article:Firms team up to sell HUD building.
Next Article:CBRE team inks 35,500 s/f in deal.
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