By Roxana Baiceanu
MidCoast Properties, a southeast brokerage firm specializing in self-storage transactions, negotiated a new deal in Georgia. Michael Morrison, an associate broker with the firm, represented the seller of Lawhorne Storage, a storage facility located in Sylvester. The property was listed for $1.6 million on MidCoast’s website and went to an out of state buyer.
Lawhorne Storage opened in 1983 and went through several stages of development, the last one completing in 2010. It totals more than 26,000 rentable square feet divided across eight buildings. In addition to the 261 traditional self-storage units offered, the site also incorporates a rental house and two offices. More space is available for future expansion.
The property is located at 101 Thompson St. on a six-acre lot, being half-way between Albany, Ga., and Interstate 75; the distance is approximately 20 miles in each direction. Occupancy is 93 percent.
Image courtesy of MidCoast Properties