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.”