Seneca, SC ยท Boat and RV storage
Take Cover Storage
Closed 10 percent above seller expectations.
The deal at a glance
- Units
- 508
- Net rentable sq ft
- 125,722
- State
- South Carolina
- Seller profile
- Regional private developer
- Buyer profile
- Regional private equity operator
The asset. Class A boat and RV storage conversion with concierge services, plus climate controlled self-storage, outdoor storage and a single-use tenant.
The transaction
What actually happened.
Oakside sold a 125,722 NRSF boat and RV storage campus on a 65-acre former medical device plant near Lake Keowee, South Carolina. Targeting buyers who understood marina and concierge operations produced a price 10 percent above the seller's expectations.
- 01
The challenge
A 65-acre former 220,000 square foot medical device plant, converted into a campus running four revenue streams. Pricing it took buyers who understood marina and concierge operations.
- 02
What Oakside did
Oakside identified the subset of buyers inside the wider boat and RV storage market with that operating experience, and marketed to them rather than to the field.
- 03
The outcome
The price came in 10 percent above the seller's expectations.
The seller
He called the number unattainable. They fought for it anyway.
John Boyd, former owner of Take Cover Storage in Seneca, South Carolina.
In their words
They were fighting for me the entire time.
John Boyd Former owner, Take Cover Storage, Seneca, South Carolina John Boyd recorded this after the sale closed. He opens on the number: what they were targeting, he says, he thought was aggressive and perhaps even unattainable.
What moved him was work he was shown before he committed, rather than a promise. The analysis and the modelling, the marketing process, and the buyer relationships behind it.
In their words
I felt the number we were targeting was aggressive and perhaps even unattainable.
John Boyd Their team walked me through their analysis and modeling, their marketing process, and their extensive buyer relationships.
John Boyd We navigated many hurdles that could have derailed the transaction, but this team held all parties accountable and remained solution oriented the entire time.
John Boyd We ended up closing with a fantastic result and we could not have been more pleased working with this group.
John Boyd In their words
I want to express my appreciation to Cameron Vale and his team that represented us in the sale of Take Cover Storage. We ended up closing with a fantastic result and could not have been more pleased working with this group. I would 100% work with them again in the future and would recommend their services to other owners.
John B. | Former Owner Related transactions
More of the record.
Pre-Sale Strategy Session
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