9/25/2008

Veritas Group sells Massachusetts self-storage property

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An affiliate of Farmington Hills, Mich.-based Storage Opportunity Partners, LLC, has purchased a Secure Self Storage property in New Bedford, Mass., for an undisclosed price from New York City-based The Veritas Group.

The deal was brokered on behalf of the seller by brokers from Houston, Texas-based Holliday Fenoglio Fowler.

The property is located 45 minutes south of Boston at 376 Hathaway Rd. Built in 2003, it is comprised of 517 self-storage units on 71,025 square feet.

"We are extremely pleased to complete this transaction, especially given the challenging economic conditions we are all experiencing," said David Levenfeld, principal and co-founder of Storage Opportunity Partners. "We are highly optimistic about achieving operating synergies by adding this facility into our portfolio of properties in Eastern Massachusetts."

Address: 376 Hathaway Rd., New Bedford, Mass.

Size: 517 units

Built: 2003

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Filed Under: Self-Storage

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