Lewes, DE – Meredith Mears, Senior Advisor with SVN | Miller Commercial Real Estate, recently sold Delaware Beach Storage Center, located at 32244 Nassau Road in Lewes, Delaware. Mears sourced and closed the deal.
Purchased by a REIT partnered equity fund, Delaware Beach Storage Center is a three-story, Class A self-storage facility boasting 106,000 net rentable square feet (NRSF) realized through 636 climate and non-climate controlled storage units. Completed in 2016 and situated on 2.45 acres, the facility is also home to an additional 25 outdoor storage parking spaces.
The sale was intricate and included acquisition of an additional 1.47 acres of land for expansion purposes, as well as billboard and cell tower leases. The complexity of the sale required Mears’ experience and expertise in asset valuation, financial analysis, and high-level negotiations. “With so many moving parts, this transaction required incredible attention to detail,” said Mears. “From day one, the entire team working to see it through was moving forward together in a well-paced, consistent and caring manner – they were all top-tier team members – and that can be attributed directly to the Seller’s standard of excellence.”
“Meredith was an incredible asset in the sale of our facility,” said the Seller, “Her negotiating skills are top notch, her organizational and communication skills exceptional, and her knowledge of the storage industry strong. All of these characteristics are extremely important in navigating and successfully completing a complex sale. Meredith gained our trust by consistently performing; we look forward to working with her again in the future.”
Mears has demonstrated her ability to bring complex self-storage deals to the closing table, closing on over $33,000,000 of self-storage deals within the last 12 months. A member of the SVN National Self Storage Team, she specializes in the brokerage, valuation, marketing, financing, and development consulting of self-storage & boat/RV/camper assets across the United States.
Mears recently attended the Florida Self Storage Association Conference in Orlando, Florida and the National Self Storage Association Conference in National Harbor, Maryland, where she met with industry partners, buyers, and sellers.
