N.Y. investor Global Income Fund acquires Summerville storage properties

By Liz Segrist
lsegrist@scbiznews.com
Published Sept. 3, 2013

Brooklyn, N.Y., investment company Global Income Fund purchased a self-storage facility at 900 N. Gum St. in Summerville from Mini Warehouses of Summerville LLC. (Photo/provided)
Brooklyn, N.Y., investment company Global Income Fund purchased a self-storage facility at 900 N. Gum St. in Summerville from Mini Warehouses of Summerville LLC. (Photo/provided)
SSG Summerville II LLC, a subsidiary of Global Income Fund Inc., acquired two storage properties in Summerville last month.

Global Income Fund, a self-storage investment manager based in Brooklyn, N.Y., is looking to acquire other storage facilities in the Charleston market, said company president Mark Winmill.

SSG recently purchased the facility at 900 N. Gum St. from Mini Warehouses of Summerville LLC for $1.3 million. The property is a 36,600-square-foot, 236-unit facility on roughly 2.5 acres. The facility has traditional and portable storage units, along with outside recreational vehicle and boat parking spaces.

SSG also recently purchased a property on Old Trolley Road from Pack Rat Self Storage for an undisclosed amount. That property is a 72,800-square-foot, 559-unit self-storage facility on 5.04 acres. It includes traditional storage units and climate-controlled units.

Global Income Fund Inc. is an operating company that owns, operates, manages, acquires, develops and redevelops professionally managed self-storage facilities.

Both facilities will be rebranded as Global Self Storage. The company plans to maintain the storage facilities and add more security features, such as cameras.

John DeStefano, vice president of Cushman & Wakefield Thalhimer, handled the Gum Street sales negotiation on behalf of Mini Warehouses.

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