Pinpoint Commercial Real Estate announced today that is has closed on the sale of Mini Storage of Ridgeland located at 286 Old Town Crossing, Ridgeland, MS 39157. Located just off Hwy 51 near Jackson Street, the 55,450 square foot self storage asset sits on approximately on 4.41 acres. This complex was built in phases starting in the late 1990’s and grew up to 333 total units.
Pinpoint’s Sam Cox represented the Seller, Dry Creek Mini Storage, LLC. Gluckstadt Self Storage, LLC was the Buyer.
“We were very pleased to help our client source a qualified buyer through local relationships,” Cox said. “The self storage asset class has heated up quite a bit from what we have seen here in the last 12 months. The Seller did not want to bring the property online and preferred a more quiet & seamless transaction. Shortly after a few groups found out about the opportunity, we were able to secure an outstanding price with short due diligence with minimal contingencies for our Seller. With the property being considered a “Value-Add” due to high vacancy and some deferred maintenance, the Buyer felt confident in the location, market demand, and barrier to entry see the value in this acquisition. Both sides of the table were very happy to say the least”.
Pinpoint specializes in representing entities, both locally & nationally, in locating the best place in the market to invest with their commercial real estate venture. With our extensive knowledge of the Mississippi real estate market, we know we can add value to your company by selecting the best real estate sites and real property available for acquisitions. While having a national broker has its perks, a local agent can uncover off-market investment opportunities and understand how to overcome certain obstacles. We encourage & foster cooperation with numerous national broker who understands the value that a local broker brings to the table and we truly enjoy working with all of the partner clients. For more information on the service that was provided on this transaction click here.