SAVANNAH; GA | October 23rd, 2023 – Oakside Companies, a national self storage brokerage and advisory firm, announced the sale of Extra Space Storage (Managed) located in Savannah, GA. Cameron Vale and the Oakside team had the opportunity to represent the seller, a regional private developer who we have successfully represented in two previous transactions. The buyer was a prominent national private equity firm based out of Charlotte, NC, also secured by Cameron Vale.  

This state-of-the-art property offers a total of 76,929 net rentable square feet (NRSF) of premium climate-controlled storage space, further complemented by an available parcel earmarked for potential expansion. What sets this acquisition apart is the remarkable achievement of physical and economic stabilization within 24 months of opening. This is a testament to the strategic positioning, management, and the drive thru feature commanding significant rents in the market.  

The marketing process carried out by Oakside Companies yielded an impressive 12 written offers, reflecting a substantial 30% variance across the market. Three competitors stood out by distinguishing themselves with competitive pricing and favorable terms.  

The pre-existing relationship played a vital role in the transaction, especially when faced with multiple challenges from the counting pertaining to an adjacent lot and a proposed turn lane that would affect our property. Oakside Companies’ guidance and commitment ensured these challenges were effectively navigated, resulting in a seamless closing process with no price reductions.  

“Our team worked diligently to ensure that the asset was presented in the best possible light to potential buyers. We aimed to showcase why this property consistently outperformed others in the market, and our efforts were rewarded with an outstanding response. Since we had closed with all three groups previously, it really came down to putting our seller in the best possible position to see this through for the partnership.” 

 – Cameron Vale, President