Matthews™ Executes Self-Storage Portfolio Disposition in VA Beach MSA

VIRGINIA BEACH, VA—Matthews™, a commercial real estate investment services and technology firm, completed the sale of a two-property self-storage portfolio located at 15311 Warwick Blvd in Newport News and 185 E Mercury Blvd in Hampton, Virginia. Matthews™ Senior Vice President and Director Austin McLeod represented the seller in the transaction.

The 77,562-square-foot portfolio sits near major employment anchors including Joint Base Langley-Eustis, Newport News Shipbuilding, and NASA Langley Research Center, with an average of 70,000 residents within three miles of each site. The assets comprise 1,036 units across eight buildings, with 98% of units offering non-climate-controlled storage ranging from 5×5 to 25×35.

Leveraging established industry relationships, the Matthews™ agent directly sourced the buyer, a private equity group already operating facilities in the area.

“Our longstanding relationship with the seller allowed us to understand their objectives from day one and position the portfolio accordingly,” McLeod said. “Despite marketing the portfolio during a traditionally slower season for transaction activity, our investor network allowed us to identify a trusted buyer and ultimately achieve a closing within our expected price range.”

For more information, please contact Austin McLeod or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.