Franklin Street recently facilitated the sale of a 104-unit, 12,600-net-rentable-square foot self storage facility in Watseka, IL. Located 60 miles east of Champaign and 90 miles south of Chicago, this submarket was new to the market. Franklin Street’s National Self Storage Team – Frank DeSalvo and David Perlleshi – represented Houston based Pebble Ridge Capital as seller while Wisconsin based Just Simple Storage (operating facilities in Michigan and Wisconsin) acted as buyer.
DeSalvo commented on the deal saying “It was great working with both Faraz and Jason to get this deal across the finish line despite its fair share of obstacles. Both buyer & seller were fair & worked towards resolving all issues prior to close.” He further added “This is our team’s second self storage transaction completed within Illinois over past six months which has us excited about pushing into Midwest markets.”
