Baltimore, MD –TD&A announces StorageMart’s two property purchase of 3212 Dam Neck Rd, Virginia Beach, VA 23453 & 1940 Kempsville Rd, Virginia Beach, VA 23464.
Coleman Tirone, Steven Cornblatt, Peter Coe, and Jared Engel of TD&A represented the buyer, StorageMart, in the transaction.
The two properties add 316,304 net rentable square feet to StorageMart’s portfolio and greatly increases their market share in Virginia Beach, VA.
States Cornblatt, “Through close collaboration between AAAA and TD&A, during a spiking interest rate environment, we were able to close on this 2-property self-storage acquisition, which StorageMart states is “ripe with upside” with the addition of 1,860 existing storage units between the two properties.”
StorageMart is the largest privately held self-storage company in the world, headquartered out of Columbia, MO. They have over 270 stores throughout the United States, Canada, and the United Kingdom. StorageMart is a family run company that has been in the storage industry since the 1970s and brothers Mike & Cris Burnam serve as CIO and CEO respectively. StorageMart will continue to be aggressive in their acquisitions of operating self-storage facilities.
TD&A is a full-service commercial real estate brokerage serving businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments.
For more information, call: 410-435-4004 or visit: www.troutdaniel.com.