PHILADELPHIA, April 30, 2021 /PRNewswire/ — GoldOller Real Estate Investments announced today it has acquired the site at 3145 Greys Ferry Ave and will shortly break ground on the development of a 157,000 square foot, five story climate controlled, self-storage facility. The $20 Million project will become a cornerstone for the Grey Ferry Gateway Corridor.
According to Jake Hollinger, GoldOller President, «Our low impact, building will significantly enhance the Greys Ferry Corridor while providing a variety of self-storage opportunities for individuals and small business in University City, Center City, and South Philadelphia. The site, just yards from 34th Street and the University Ave Bridge, Fitter Square and Washington Ave, is directly adjacent to, and will be fully visible from, the Schuylkill Expressway. Our clean lines and creative angle design will actually hug the elevated Schuylkill Expressway while enhancing the street space of Grays Ferry Ave.» This will be GoldOller’ s second self-storage development, having completed an 80,000 Square foot, Cube Smart managed, self-storage facility in the Fishtown section of Philadelphia last year.
GoldOller, headquartered in Philadelphia, is one of the nation’s largest multifamily owner-operators, with a portfolio of more than 40,000 apartment units in 18 states. According to GoldOller Chairman, Richard Oller, «Our interest in self-storage and other asset classes doesn’t signal any departure from our core apartment business. Last year, GoldOller completed more than $100 Million of new apartments and mixed-use developments, and $566 Million of apartment acquisitions in New York, Illinois, Ohio and S. Carolina representing 4,660 apartments units. While we continue to expand our apartment footprint, we are thrilled to explore new areas of opportunity and especially those in our own back yard.»
CVA Commercial Group has advised GoldOller on the Grays Ferry project since 2019. According to Vince Jolly, CVA’s founder and CEO: «The location is virtually at the intersection of the Schuylkill Expressway, Center City, South Philadelphia, and University City. It is absolutely the best location for students, homeowners, renters and small business, and the timing is letter perfect. We are very excited to see a vacant, opportunity zone property, come to life alive.»
Brokerage services were provided by Marc Wiser at GO Commercial Real Estate.
Contact: Jake Hollinger, firstname.lastname@example.org
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SOURCE GoldOller Real Estate Investments