CBRE’s Self Storage Advisory Group Arranges $23.6 Million Sale of North Carolina Self Storage Portfolio

Charlotte – August 18, 2022 – CBRE has announced the $23.6 million sale of two Extra Space Storage facilities outside of Charlotte, North Carolina. Lakeland Village acquired the portfolio from an undisclosed private investor. Morgan Windbiel, Senior Vice President with CBRE’s Self Storage Advisory Group, represented the seller in the deal.

The 136,994-square-foot portfolio includes Extra Space Storage facilities in Salisbury and Mooresville, North Carolina. The Salisbury facility, located at 725 Jake Alexander Blvd. S., measures 66,000 sq. ft. and includes 680 self-storage units ranging in size from 5 feet by 5 feet to 10 feet by 30 feet. The deal sold with a second phase expansion being delivered at certificate of occupancy. This single-story facility is equipped with 24-hour video surveillance cameras, interior climate-controlled units, outdoor RV parking, moving carts, a covered loading bay and wide drive aisles.

The Mooresville facility, located at 1110 Brawley School Road, measures 70,994 sq. ft. and consists of 705 self-storage units. At the time of sale, this facility was in lease-up.

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