Moove In Self Storage, which operates 21 locations in Maryland, New Jersey and Pennsylvania, has acquired two existing facilities and a conversion-development site from B&S Self Storage in Douglassville and Pottstown, Pa. Moove In will expand a 14,100-square-foot storage facility in Douglassville and convert a former car dealership in Pottstown. The projects are expected to add 140,000 rentable square feet to the company’s portfolio, according to a press release. The third property is a B&S facility, also in Pottstown.
Built in 1988, the Douglassville facility comprises four single-story buildings offering 132 units and 70 outdoor parking spaces. The property on Benjamin Franklin Highway has keypad access, perimeter fencing and security cameras.
The storage facility in Pottstown was built in 1974 on Pleasantview Road. It comprises three single-story buildings and 38 outdoor parking spaces. Features include keypad access, perimeter fencing, a rental office and security cameras.
Company affiliate Moove In Partners-Pottstown LLC paid $2.4 million for the 6.39-acre dealership site at 2148 E. High St. The deal closed on Dec. 21, according to the source.
“Both existing storage properties are in great physical condition and ready for expansions to better serve the needs of the market,” said Jason Carl, director of operations for Investment Real Estate Management LLC (IREM), which oversees the Moove In portfolio. “Plus, the build-out of the dealership is going to add a whole new dimension and options for our customers.”
Founded in 1997, Moove In operates facilities in Baltimore County in Maryland; Berks, Huntingdon, Lancaster, Montgomery and York Counties in Pennsylvania; and Sussex County in New Jersey.
IREM is a branch of York, Pa.-based Investment Real Estate LLC, a property-management and consulting firm specializing in the self-storage industry. Since its inception in 1998, the company has provided brokerage, construction, development and management services to facility owners and investors.
Source:
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