The Moore Self Storage portfolio was comprised of climate controlled and traditional storage spread across in two states. North Carolina consisted of two investment-grade facilities totaling 963 units / 142,550sf. Pennsylvania housed a single, value-add facility totaling 279 units / 35,158sf with adjacent land permitted for an additional 39,140sf. The Pennsylvania transaction was further complicated by the need to obtain a Highway Occupancy Permit which required difficult negotiations with an unwilling adjacent property owner to procure the permit.
Dual marketing plans were created to identify national investors for the assets in North Carolina and regional investors for the Pennsylvania asset. Through creative marketing and unrelenting perseverance, Michael Liguori and Andrew Sherry transacted the portfolio for a value over $16.5 million.
Michael Liguori and Andrew Sherry transacted the portfolio for a value over $16.5 million.