B&C Storage Acquires 18th Facility in Central New York
The new owner plans to invest in capital improvements, adding new buildings at the 20,473-square-foot property.
B&C Storage – Tully
B&C Storage of Syracuse, N.Y., has acquired Tully Mini Storage, a 20,473-square-foot facility in Tully, N.Y. The new asset is the firm’s 18th storage property located in Central New York.
Built in two phases, between 1986 and 2005, the property comprises five buildings. The new owner plans to invest in capital improvements, adding new buildings with drive-up climate control and climate-controlled units. The property is set to operate as B&C Storage – Tully.
Located at 5720 Meetinghouse Road, on roughly 2 acres, the property is just off Interstate 81. Downtown Syracuse is within 18 miles of the facility.
Despite current economic setbacks, the self storage sector continues to remain fairly active. According to a recent Yardi Matrix report, rent prices for the average 10×10 non-climate-controlled units increased 3.5 percent year-over-year, while rents for climate-controlled units of similar size recorded an uptick of 2.3 percent. Earlier this month, Pegasus Group acquired an 87,597-square-foot facility in Portland, Ore. The asset traded for $19.9 million.
