Chicago & Midwest + Midwest + Retail | April 17, 2023

Franklin Street Brokers Self-Storage Deal in Downstate Illinois

Franklin Street recently arranged the sale of a 104-unit, 12,600-net-rentable-square-foot self-storage facility in Watseka, IL, a submarket located 60 miles east of Champaign and 90 miles south of Chicago.

Franklin Street’s National Self-Storage Team of Frank DeSalvo and David Perlleshi represented the seller, Houston-based Pebble Ridge Capital. The new-to-market buyer was Wisconsin-based Just Simple Storage, which currently operates facilities in Michigan and Wisconsin.

“It was great working with both Faraz and Jason to get this deal across the finish line,” said DeSalvo. “The deal had its fair share of obstacles, but both the buyer and seller were fair and worked towards resolving all issues prior to close. This is the second self-storage deal our team has completed in Illinois within the past six months, and we are excited to continue to push into new markets in the Midwest.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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