Sentinel Self Storage has purchased its first Pennsylvania property, Depository Self Storage in Spring City, for more than $5 million. The seller was a private partnership that had developed and managed the facility for more than 25 years.
The property at 25 Mennonite Church Road is just off Wampler Drive near Pennsylvania Route 724 in East Vincent Township. Situated on nearly 7 acres, the facility opened in 1987 and consists of 19 buildings, 566 storage units and 134 vehicle-parking spaces. An additional five structures have been approved for construction. The property also has a communication tower.
The seller was represented by Chuck Shields, a self-storage investment specialist with Beacon Commercial Real Estate LLC and a broker affiliate in New Jersey and Pennsylvania for the Argus Self-Storage Sales Network.
Family owned and operated since 1989, Sentinel Self Storage is based in Wilmington, Del. It operates facilities in Delaware, Maryland, New Jersey and Pennsylvania.
Philadelphia-based Beacon offers property leasing, maintenance, management and sales. Its project-management division, CenterPointe, provides build-to-suit projects, modifications to existing facilities, and property development and construction.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.
