Aaron Swerdlin, executive managing director and Kenneth Cox, senior managing director represented the seller, Storage Pros Management LLC, in this transaction
December 27, 2016: The NGKF Self Storage Group, one of the world’s leading commercial real estate advisory firms is pleased to announce the sale of the Storage Pros Knoxville, TN portfolio.
David Levenfeld, CEO of Storage Pros Management LLC commented, “Aaron and Kenneth managed this transaction with their usual diligence, while providing excellent strategic guidance along the way. As has been our experience with them over the years, the outcome exceeded our expectations.”
The portfolio consisted of eight well-maintained self storage facilities comprised of 415,616 SF of self storage and 23,500 SF of outside parking space. The eight facilities encircle the Knoxville MSA and are located within a 20-mile radius of one other. This dominant geographic positioning allows for favorable pricing power and online marketing presence in the Knoxville MSA.
Mr. Swerdlin and Mr. Cox head up NGKF Capital Markets’ Self Storage Group and, together, have led more than $5 billion in self storage transactions during their careers. The team understands the complexity of this property type in the context of operational issues as well as the most current perspective relative to the capital markets and transaction environment.