Joseph Mendola of NAI Norwood Group of Bedford, NH., represented the seller and assisted the buyer in the sale of Exit 17 Self Storage. This property is located in the Upper Valley of New Hampshire which is an anomaly market. The area has a high concentration of businesses and a major College. The available land area is scarce and expensive. The zoning is not very favorable for self-storage use, making this a high barrier to entry market. This is a recipe for strong growth for existing facilities. There are 476 units that are a combination of climate controlled and traditional storage units. The facility has two locations. One site is not very visible to major traffic and the second location sits on an exit of an Interstate highway. The seller developed these 2 sites over the last 20 years and decided to take advantage of an excellent market for investment properties with this sale.
Joseph Mendola is located in Bedford, New Hampshire and is the Argus Self Storage Sales Network broker affiliate for northern New England. He can be reached at 603-668-7000 ext.203. Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the ASSSN has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit www.argus-selfstorage.com.