As a rising commercial real estate asset class, this self-storage property is located in an affluent submarket just 30 minutes southeast of Atlanta, GA. In the next five years, this market is expected to receive ten percent population growth. Despite the projected growth, the seller, a local private client, was looking to cash out and retire. Matthews™ was presented with the challenge to aid the seller in negotiating the disposition of the property at the highest price point possible. However, there was an issue with the roofs’ condition.
Given the challenge mentioned above, the Matthews™ brokers worked to achieve a mutually beneficial outcome for both the seller and the property’s buyer. Matthews™ collaborated with the seller and received second and third options regarding the condition of the roof. Ultimately, they determined that it did not need to be replaced but rather have a coating put on top of the current roof to extend the life by ten years. By utilizing Matthews™ proprietary technology, the Matthews™ brokers received several offers from the initial email blast.
Through constant communication and collaboration, the Matthews™ brokers found a buyer who Matthews™ also represented in the deal. The buyer owned another facility about a mile away and wanted to eliminate the competition and increase their self-storage scale and presence in the McDonough market. The property closed at 96 percent of the list, and both parties were happy with the results.
“Austin McLeod and Johnny Blue Craig were a pleasure to work with on the sale of my facility. Upon bringing the facility to market, we received several offers from credible Buyers and ultimately chose one of the top self-storage operators in the U.S. that Austin and Johnny Blue had a prior relationship with. Austin and Johnny Blue negotiated an offer at full list price, as well as had the buyer agree to purchase the property all cash with a quick closing. Throughout the escrow process Austin and Johnny were professional, thorough, and kept in constant communication with me. When questions were raised regarding property conditions – they fought hard for me. I would recommend Austin McLeod and Johnny Blue Craig to anyone that is looking to sell their self-storage facility throughout the country.”
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