The deal was arranged by Nicholas Malagisi of Sperry Van Ness Storage Realty of Williamsville, NY, and Jeffrey Supnick of Supnick Real Estate, a firm that exclusively serves the self-storage industry. The seller was Ocean-Monmouth Self Storage of Point Pleasant, NJ, which operated the three facilities under that name.
"There continues to be a consolidation within the self-storage industry by the major operators," says Malagisi, who recently joined Sperry Van Ness as national director of self-storage. The three properties encompass a total of 1,774 units and 250,000 sf of net rental space that is currently 80% occupied, according to Malagisi. The sale price factors out to $93 per sf.
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