Pennsylvania-based Moove In Self Storage has expanded into the Baltimore market with the acquisition of Security Mini Storage and Beltway Mini Storage. The two properties combined comprise 69,508 square feet of rentable space in 957 units and are near the intersection of Interstates 695 and 70. They will be rebranded as Moove In locations and managed by Investment Real Estate Management (IREM).
The properties contain 13 single-story, drive-up buildings constructed of split-face block with metal roll-up doors. Investment Real Estate Construction (IREC) will work on renovation improvements including new signage, office refurbishment, new roofing, perimeter fencing and keypad-operated gates.
IREM and IREC are branches of York, Pa.-based Investment Real Estate LLC (IRE), a property-management and consulting firm specializing in the self-storage industry, which brokered the deal.
“This transaction was one of the most creative that we crafted in our 17 years of selling self-storage facilities,” IRE CEO John H. Gilliland said in a press release. “We worked hard over many months to make it a true win-win scenario for the seller and buyer. Various estate tax, legal entities, leasing options and management strategies were employed to make it all come together. All of the professionals involved in both sides of the transaction are to be commended for their creativity and hard work.”
Since its inception in 1998, IRE has provided brokerage, construction, management and development services to facility owners and investors.
Prior to this transaction, Moove In Self Storage operated 12 facilities in Huntingdon, Lancaster and York counties in Pennsylvania.
