Berkshire Hathaway is pleased to report the sale of Terminal Storage located in the Myrtle Beach, South Carolina MSA. The property consists of 75,000 net rentable square feet of self storage and warehouse space.
The property had been broadly marketed with three other self storage brokers over the last three years, and our client thought he may have to hold it forever.”
Berkshire’s Cameron Vale, Senior Vice President, and Parker Sweet, President, represented the seller and secured the buyer.
“This well occupied cash flowing asset presented tremendous upside in both rates and institutional management. The property had been broadly marketed with three other self storage brokers over the last three years, and our client thought he may have to hold it forever”, stated Cameron Vale. “Both occupancy and collections continued to improve into the pandemic. We were able to deliver a fantastic result for our seller who had owned/managed the property for over 30 years, and positioned the buyer for further expansion into this market”, he continued.
