Malagisi, Hardisty of SVN’s National Self Storage Team Negotiate Sale of Storage Facility in New York for $10.5 million
Industry: Real Estate
Buffalo, NY (PRUnderground) December 13th, 2021
Nick Malagisi, SIOR and National Chair of the SVN National Self Storage Team and his colleague Hans Hardisty, CCIM, Senior Advisor and Managing Director, recently assisted the sale of the Planet Self Storage facility in Mt. Kisco, NY for $10.5 million. The facility sold for $1 million over the asking price with competitive bidding.
The Planet Self Storage facility includes four, two-story buildings consisting of 32,500 NRSF and 350 units operating at 92% occupancy. Malagisi and Hardisty represented both the sellers and buyers in the transaction. The 35-year-old facility was owned by the family of the original developer and the buyer is a top 20 self storage operator from California.
“This is another example of out of state investors purchasing self storage facilities,” said Malagisi. “In fact, 80% of SVN investment sales are from out of state buyers, which reaffirms the value of our robust national platform and the local market expertise that connects buyers and sellers with the latest, most critical information in a rapidly evolving market.”
About SVN’s National Self Storage Team
The SVN National Self Storage Team specializes in the brokerage, valuation analysis, marketing, financing, and development consulting of self-storage assets across the United States. The seasoned team of commercial real estate investment brokers are focused exclusively on self-storage and specialize in recognizing self storage investment opportunities for their clients, from locating sites for new build construction to ground up development joint ventures to delivery of Certificate of Occupancy deals to listing & disposition of stabilized assets. With advisors in major markets from coast to coast, clients benefit from the unique combination of SVN’s robust national platform and the local market expertise to provide buyers and sellers with the latest, most critical self storage information in a rapidly evolving market. For more information, visit https://svnstoragerealty.com/.