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Boundary Ventures Buys Elkton Self-Storage Portfolio for $19M
Boundary Ventures, LLC. has purchased a four-property, 883-unit self-storage portfolio in the Baltimore submarket of Elkton, MD for $18.8 million.
Andrew Meeder with MacKenzie Commercial Real Estate Services represented the buyer. Tom Mottley, also with with MacKenzie Commercial Real Estate Services, represented the seller, Acorn Investment Company.
The properties total nearly 125,000 square feet of space:
- 804 E. Pulaski Highway – 20,425 square feet, 84 units
- 1089 Augustin Herman Highway – 39,350 square feet, 362 units
- 4 Coachman Drive – 53,115 square feet of space, 288 units
- 1882 W. Pulaski Highway in North East – 20,425 square feet, 149 units
“Virtually no section of the state or the country has been untouched by the popularity wave sweeping over the storage space self-storage industry as apartment renters, homeowners, college students and retailers and businesses all have needs for this product category,” said Mottley. “The new owner acquired four high-performing properties and the self-storage category is practically recession-proof.”
- ◦Sale/Acquisition
