New JV to Build CubeSmart Self-Storage Facility in Montville
The new joint venture plans to begin construction in September on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road.
MONTVILLE, NJ—Locally-based Diversified Properties LLC has formed a joint venture with 1026 Real Estate Investors, LLC of New York City on a new self-storage project to be built here.
The new joint venture plans to begin construction in September on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road. The 2.5-acre site, previously approved for an office building, is s located with access via Route 202, just off the I-287 exit ramp, with visibility and signage adjacent to I-287.
The facility will be professionally managed by CubeSmart Self Storage. All entitlements for the ground-up project are in hand.
Diversified Properties, LLC is a full-service real estate company founded in 2000 and headed by founder and principal, Nicholas Minoia. With core strengths in residential and commercial development and construction, the company is primarily focused on acquisitions, architectural and engineering design entitlements, construction, leasing, sales, management, and strategic repositioning of multifamily properties. 1026 Real Estate Investors is headed by principal Douglas Oliver.
Last week, Diversified Properties, LLC has announced the formation of a new affiliate Morris Construction Management, LLC in partnership with Anthony Ciallella, a building and construction management professional. Morris Construction Management will offer third-party construction services to developers in the commercial and multi-family markets in the New York/New Jersey metro area. Minoia and Ciallella are co-principals in the new company, located at the Diversified Properties corporate headquarters in Montville.