Moove In Self Storage Acquires Self Storage Facility From PrimeSpace Capital For $14.15M In Scranton

The property asset involved in the transaction is a self-storage facility located at 1011 Scranton Carbondale Highway in Scranton, PA. The asset was sold for $14,150,000 and encompasses a total of 125,000 square feet, equating to a price per square foot of $113. This facility includes an 87,000-square-foot Class A climate-controlled self-storage section and was redeveloped from its original function as a Kmart.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $14,150,000
• Address: 1011 Scranton Carbondale Highway
• Market: Scranton, PA
• Asset Size: 125,000 square feet
• Price Per Square Foot: $113
• Buyer: Moove In Self Storage
• Seller: PrimeSpace Capital - Israel Friedman & Carolyn Stratton
• Broker: Cameron Bradford - Marcus & Millichap

Key individuals involved in the deal include Israel Friedman and Carolyn Stratton representing PrimeSpace Capital as the sellers. Cameron Bradford acted as the broker for the transaction, facilitating the sale for both parties. PrimeSpace Capital is actively looking into acquiring land and pursuing value-add redevelopment opportunities across the United States.