Philadelphia, PA — CBRE, Inc. has brokered the sale of Willow Grove Self Storage in Willow Grove. Michael Howard, senior vice president of CBRE’s Self Storage Advisory Group, along with Steve Marzullo and Justin Marlowe of CBRE’s Investment Properties Philadelphia Commercial Group, represented the seller. The class A facility was sold to Metro Storage, LLC, a privately owned, fully integrated, international self-storage operating company with 11 facilities in the Philadelphia area.
“Through a national marketing campaign, our team identified a deep pool of interested institutional buyers and selected Metro Storage. This is Metro’s eighth acquisition in the Philadelphia market in the past year,” said Howard.
Marzullo, senior vice president with CBRE’s Wayne, PA office, added, “It’s in an excellent location with exposure to Rte. 611 and easy access to the Pennsylvania Turnpike, in an area of Montgomery County with strong residential, commercial, retail, and industrial demand.”
Willow Grove Self Storage is a 92,250 s/f facility with six single story non-climate controlled buildings and three fully climate controlled buildings, totaling 626 units.