Public Storage Acquires Andover Street Self Storage In Peabody, MA For $19M

Public Storage has acquired Andover Street Self Storage in Peabody, Mass. for $19 million. The property is a 76,396-square-foot, Class A facility with 1,100 climate-controlled units. Located at 151 Andover Street, the self storage facility sits on 2.4 acres of land in the Peabody market.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $19,000,000
• Address: 151 Andover Street
• Market: Peabody, MA
• Units: 1,100
• Price per Unit (PPU): $17,273
• Square Footage (SF): 76,396
• Price per Square Foot (PPSF): $249

The deal was brokered by Nathan Coe, Brett Hatcher, Gabriel Coe, and Thomas Shihadeh from Marcus & Millichap, who represented both the buyer, Public Storage, and the seller, LCI Management.

Please note that this information is based on the closed transaction of Andover Street Self Storage in Peabody, Mass.