(To read more on the industrial market, click here.)
PISCATAWAY, NJ-A West Coast institutional investor, which wasnot identified, has acquired the 78,025-sf self-storage facility at4100 New Brunswick Rd. here for just over $8.3 million, a saleprice that factors out to $107 per sf (net rentable). The sellerwas a New Jersey-based partnership, which was similarly notidentified.
Both sides were represented by Nick Malagisi of Sperry VanNess/Storage Realty of Williamsville, NY. The three-story facilityis new construction, recently completed by the seller. It containsa total of 898 rental units and is 100% climate controlled,according too Malagisi. The seller began construction in 2005 andthe facility opened for business earlier this month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
