Southeastern Business Intermediaries, an Atlanta based commercial real estate firm specializing in off market self storage transactions, is pleased to announce the sale of a 345 unit self storage facility to a national self storage ownership /management company for $3,525,000.
Rowlett, Texas, an eastern suburb of Dallas, is a growing community with a population of more than 62,000 people.“We continue to see a strong interest from our national network of self storage buyers and investors for well- located self storage properties with growth opportunities. Our goal is always to match the right buyers with the right properties while maximizing value for investors of self-storage facilities," Harold Kolbe, President of Southeastern Business Intermediaries.
Atlanta, GA-January 2018- Southeastern Business Intermediaries, LLC brokered the sale of a mobile home park portfolio. The transaction was complex and presented many challenges for the buyer. The first challenge was to obtain compliance for all mobile home parks with both the Health Department and Code Enforcement. “ We knew that if we could get through these obstacles, these properties clearly had not reached close to their pricing potential,” said Harold Kolbe, President of Southeastern Business Intermediaries.
The buyer of the mobile home park specializes in challenging transactions and showed resiliency over the entire transaction and was not fazed by a number of obstacles. At the time the real estate market was a low cap rate environment. “This particular group has found a niche in an asset class that can still deliver undervalued real-estate. The moral to the story for this buyer is hard work and perseverance in an undesirable asset could be a diamond in the rough that all investors are looking for, ” Kolbe stated.
Minneola FL., Nov 2017- Atlanta, GA– November 15, 2017 – Southeastern Business Intermediaries, LLC brokered the sale of AAA Storage located at 995 North Highway 27 in Minneola, FL. Built in 2013, AAA Storage is a 75,362 square foot Class A facility with 622 units. Harold Kolbe, President, Southeastern Business, LLC, along with Darren Schiff with Jeremiah Baron & Co. represented the seller and buyer.
Atlanta GA., Southeastern Business Intermediaries arranged the sale of a 26 unit mobile home park. Southeastern Business managed the entire process including assisting the buyer with all due diligence and building code updates. The buyer is well funded and is currently looking to acquire additional mobile home parks.
Key West, FL. Aug 2018. Southeastern Business Intermediaries, LLC arranged the sale of the premier storage facility in the Key West self storage market, Choice Storage. The 55,000 square foot, three acre self storage facility, has an additional three acres for expansion.
The purchase price was $23,800,000, which equates to $626 per square foot, one of the highest per square foot sales in 2018. The buyer was a national self storage ownership/management company.
Atlanta, GA., Southeastern Business brokered the sale of a mobile home park located in Cobb County. When Southeastern Business first encountered the mobile home park it was a Class D property riddled with code and health violations. “ By working closely with Cobb County we were able to address the code violations, which lead to new Business Licenses for the new owner. The owner has plans to clean the park, add needed infrastructure and operate the park as an improved Class B asset.” stated Harold Kolbe, President of Southeastern Business.
Chicago, IL., Southeastern Business Intermediaries brokered the sale of a self storage facility in the Chicago area. The 51.350 square foot facility, located on three acres, sold for $4,000,000. The annual revenue was approximately $390,000 which equated to a NOI of $245,000.
We represent off market properties, and just to market properties.
Focus on: Self Storage Facilities, Medical Buildings and Multi Family.
Have an extremely strong availability of buyers and have great relationships and receive very fast turnaround on interest and the LOI presentations. We are not a major real estate firm and work strictly by word of mouth and referrals.
We can also provide client consulting services on business valuation, financing, and disposition and acquisition of businesses and real estate. With over 23 years’ experience in management, finance and business ownership, we can provide valuable insight into business valuation and real estate brokerage clients. We strive to bring exceptional value to our clients. We offer local expertise and national presence for buyers and sellers.
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