Acquired by One of the Largest Self-Storage Owners in U.S.
Atlanta, GA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Monroe Self Storage, which consists of over 300 units totaling 47,450 rentable square feet in Monroe, GA. The property was purchased by National Storage Affiliates (NYSE: NSA), one of the largest owners and operators of self-storage facilities in the United States. Associate Vice President Austin McLeod represented the sellers, two private developers based in the Atlanta metro area.
Matthews™ generated multiple qualified offers from well-established self-storage investment funds, creating an eager buying pool. The facility is a new build consisting of climate-controlled and non-climate-controlled units that were fully stabilized, despite being developed in 2020.
“The sellers were able to exit their investment at a higher price and quicker timeframe than anticipated because of the flourishing self-storage industry. The Buyer was able to add another facility in the Monroe market to its growing portfolio, making it a strong fit from an operations standpoint,” said McLeod.
The property is in a prominent location next to the Shops at Breedlove, which houses major retailers such as The Home Depot, Family Dollar, Tractor Supply Co., and Walmart.
“Self-storage is a fast-evolving market benefiting from the increase of people relocating across the country as a result of a remote workplace and lifestyle changes,” said McLeod. “Despite rising interest rates in the first half of 2022, we haven’t seen much of a slowdown in the acquisition market.”
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
About National Storage Affiliates Trust
National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self-storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of March 31, 2022, the Company held ownership interests in and operated 1,061 self storage properties located in 42 states and Puerto Rico with approximately 68.4 million rentable square feet. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States. For more information, please visit the Company’s website at www.nationalstorageaffiliates.com.
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