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CBRE Arranges $43.55M Atlanta Area Self Storage Portfolio Sale
CBRE’s Self Storage Advisory Group has announced the $43.55 million sale of a three-property self-storage portfolio to Wentworth Property Company.
CBRE’s Self Storage Advisory Group represented the seller, Gwinnett Self Storage. The properties include 242,500 square feet of self-storage space across 1,912 units. They are located at·2600 Lawrenceville Highway in Lawrenceville, 1475 Grayson Highway in Lawrenceville, and 3950 Five Forks Trickum Road in Lilburn. Occupancy was at 94 percent at the time of the sale.
“Even in today’s challenging time for commercial real estate, self storage is still one of the few preferred product types by local, regional, and institutional capital sources,” said Nick Walker, a Vice Chairman at CBRE.
“Georgia and the southeast sunbelt region have continued to attract buyers from all over the country due to its tremendous population growth, and this portfolio was no exception,” said Morgan Windbiel, a Senior Vice President at CBRE.
- ◦Sale/Acquisition