MV Investment sells Raeford Road self storage facility
By Staff Report, posted Jul 7, 2023 on BizFayetteville.com
A climate controlled self storage facility located at 5234 Raeford Road in Fayetteville, NC has been sold by MV Investment to an undisclosed purchaser.
The facility was opened to the public on April 1 and houses approximately 90,000 square feet of climate controlled storage space on a 105,000 gross square-foot complex with 828 units of various sizes, ranging from 5’x5’ to 10’x25’.
According to Aaron Rowley, Senior Developer at MV Investment in a press release: “This facility’s location fills a void in the local market by providing high-quality storage options for residents and businesses.”
Construction began in February 2022 to address a need for climate controlled self-storage units in the area. The site was selected for both its location and high visibility to residential, commercial, and military customers. Raeford Road is a primary east/west corridor in Fayetteville, providing the nine-acre site with high visibility along one of the city’s most heavily traveled roadways. In addition, the site offers easy access to secure, well-maintained storage units for service members stationed at Fort Bragg.
“The Raeford Road site offers a win for both the community and investors,” said Aaron Rowley in a press release. “We take pride in filling a need for high-quality self-storage units for our nation’s service members. In terms of investment, adjacency to military bases offers a solid and stable return for investors, which is why we selected this market.”
Cubesmart oversaw the lease-up and property management of this location.
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