BURLINGTON, NJ-A national self-storage operator acquired a 6.8-acre site at Route 130 and Neck Road here for just less than $2.3 million. The new owner plans to build an 80,000-sf (gross) self-storage facility on its newly acquired property. The brokers involved with the transaction declined to identify the new owner pending a formal proposal of the company's plans.
"This is the first acquisition in the New Jersey market for the buyer," says Nick Malagisi of Sperry Van Ness/Storage Realty of Williamsville, NY. Malagisi teamed up with Jeff Supnick of Supnick Realty, Mt. Laurel to represent the seller, a locally based private partnership. "The location of the parcel has excellent traffic counts and frontage on Route 130," Malagisi says.
The new owner of the property was represented by Jim Pitoukkas of Self Storage Brokers of America, Indianapolis.
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