Success Story
Loris Self Storage
Loris, SC
SELLER PROFILE
Private multi-state operator
BUYER PROFILE
Private regional operator
PROPERTY PROFILE
Class B, three separate locations with expansions on two parcels, one site included a Twice the Ice Franchise
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Summary
- This fully stabilized portfolio comprised 40,000 NRSF across 335 units.
- The site had complete dominance in the submarket as the only site with climate controlled units.
- Superior asset quality with the nearest competitor resided over 10 miles away
Results
- The Oakside team yielded multiple offers over guidance as two particular groups fought to win the deal. The final result shocked our sellers as they had owned this particular property for many decades and never believed anyone would pay where we transacted.