Shetland Park- Salem, MA
By: The Storage Acquisition Group
Shetland Park Closing Announcement
The Storage Acquisition Group is pleased to announce the sale of Shetland Park in Salem, Massachusetts. Bill Sitar Jr., Esq., Thomas Palumbo and Cowles M. “Monty” Spencer, Jr. conducted the sale of the complex located on Congress Street. This property is comprised of five buildings used for office, school, industrial and self-storage. The park complex itself totals 1,500,000 square feet and is situated on 30 acres adjacent to the historic Salem Harbor. The Shetland Park Self Storage facility located on site consists of 2,000 units for a total of 177,823 rentable square feet. This sale was finalized on May 1, 2019.
The Storage Acquisition Group today announced the sale of Shetland Park in Massachusetts. The office park and associated self-storage facility are located on Congress Street in Salem. The sale was finalized on May 1, 2019.
The sale was managed by group vice president Bill Sitar Jr., Esq., Thomas Palumbo and group president and CEO Cowles M. “Monty” Spencer, Jr.
This property totals 1,500,000 square feet of office, school, industrial and self-storage space. The self-storage facility consists of 2,000 storage units for a total of 177,823 rentable square feet.
Located directly adjacent to the historic Salem Harbor and downtown, Shetland Park has excellent location. Easily accessible via multiple state routes, bus, rail and ferry, Shetland Park is the North Shore’s premier waterfront business center.
The Storage Acquisition Group is the premier agency for owners of self-storage facilities or portfolios presently considering opportunities for acquisition. Recognized across the industry for its owner-friendly acquisition process and providing fair market values with the lowest possible transaction costs to the owner, The Storage Acquisition Group prides itself on an open and communicative process. With decades of combined transactional experience and an integrated network of industry related consultants, the group is equipped to offer solutions on even the most complex transactions. To learn more about The Storage Acquisition Group’s unique model, visit https://thestorageacquisitiongroup.com/. The Storage Acquisition Group is a division of Mid-Atlantic Commercial Real Estate located at 110 Mid-Atlantic Place in Yorktown, VA 23693.
 Bill Sitar Jr., Esq. is a vice president of The Storage Acquisition Group and a vice president of Sitar Realty Company in New Jersey.
 Thomas Palumbo is a vice president and broker sales associate with Sitar Realty Company in New Jersey.
 Cowles M. “Monty” Spencer, Jr. is president and CEO of The Storage Acquisition Group, a division of Mid-Atlantic Commercial Real Estate.
*Broker of Record is Jed Hayes of Sullivan Hayes Northeast in Farmington, CT.