Lakeland Village has completed $23.6-million purchase of two Extra Space Storage facilities totalling 136,994 square feet in the Charlotte submarkets of Mooresville, NC and Salisbury, NC. Extra Space Storage operates both facilities as a third-party manager.

Morgan Windbiel with CBRE represented the seller, an undisclosed private investor, in the deal.

“The Charlotte MSA has continued to grow at a pace far exceeding the national average,” said Windbiel. “These deals show that there continues to be a strong confidence in leasing up both new facilities, as well as newly delivered expansions.”

The Mooresville facility, located at 1110 Brawley School Road, measures 70,994 square feet and consists of 705 self-storage units. At the time of sale, this facility was in lease-up. The Salisbury facility, located at 725 Jake Alexander Boulevard, measures 66,000 square feet and includes 680 self-storage units. The deal sold with a second phase expansion being delivered at certificate of occupancy.

The post It Takes $24M for Lakeland Village to Buy Two Self-Storage Facilities near Charlotte appeared first on Connect CRE.


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