Bull Realty Brokers $3 Million Sale of American Storage in Loganville, GA
Bull Realty brokered the sale of American Storage in Loganville, GA, a 518-unit facility with 66,300 RSF on 7.21 acres with room to expand. The sale closed on May 20, 2015 for $3 million at an 8.19% cap rate.
The seller, American Storage Loganville, LLC, developed the property in 1997. The buyer was Affordable Mini Storage also located in Loganville, GA.
Graham Hill, Senior VP, National Self-Storage Group at Bull Realty, was the only broker involved in the sale of the property.
Hill called the sale a “perfect match” of a buyer and seller. “There was an immediate need in the area for RV parking and boat storage. American Storage had available space to expand so it was an ideal situation for the buyer where he could create and fill the new space with demand from both facilities.”