CBRE’s Self Storage Advisory Group Announces $24.8 Million Sale of 816-Unit Self-Storage Facility in Chapel Hill, North Carolina

CBRE has announced the $24.8 million sale of an 814-unit, 76,051-sq.-ft. Extra Space Storage facility in Chapel Hill, North Carolina to Dallas, Texas-based Rosewood Property Company.

CBRE’s Self Storage Advisory Group represented the seller, Carolina Storage Partners, LLC, in the transaction.

“With strong demographics and growth in the market, this transaction showed that there continues to be robust demand for cash-flowing, well-located self-storage facilities from all types of investors ranging from large institutions and family offices to private equity and sovereign wealth funds,” said Nick Walker of CBRE’s Self Storage Advisory Group.

Located at 12330 US-15 501 North, the facility is situated directly on U.S. Highway 501, offering exposure to approximately 28,500 vehicles daily. It sits adjacent to nearby retail and to the Research Triangle Park and the University of North Carolina at Chapel Hill. The average household income ranges from $124,144 to $151,577 within a three- to five-mile radius.

“The property offered the buyer a rare opportunity to acquire an attractive self-storage facility in a highly visible location near the region’s top employers, residential communities, hospitals, and universities,” said Morgan Windbiel, Senior Vice President with CBRE in Atlanta.

The property includes climate-controlled units ranging in size from 20 sq. ft. to 300 sq. ft. and includes 67 Wine storage units.