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Real Estate Journal — Pennsylvania — Section C
www.marejournal.com
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Unveils over 200,000 s/f of new, state-of-the-art self-storage space in Philadelphia Suburbs The Hampshire Companies doubles down on self-storage with two new self-storage facilities M ANAYUNK AND CRUM LYNNE, PA — The Hampshire investment strategy and we look forward to continuing to pursue opportunities in this market.”
age REITs. Located at a lighted interchange in densely populat- ed Ridley Twp., the three-story Crum Lynne building features a strong retail orientation and is situated prominently with visibility from I-95. The Manayunk facility is in one of the most well estab- lished, desirable and densely populated neighborhoods in the city of Philadelphia. “While we have a long his- tory in self-storage, we’ve been particularly bullish on devel- opment opportunities for the past few years,” said Don En- gels , senior VP of self-storage acquisitions & development. “We continually look to source deals in under-served, densely populated areas in an effort to deliver these increasingly in-demand assets and deliver them to local markets through- out the northeast. Crum Lynne and Manayunk are both excel- lent locations with strong de- mographics that fit extremely well within our self-storage
repositioned or developed 33 self-storage facilities with an aggregate value of over $415 million. Presently, Hampshire has 12 self-storage develop- ment projects underway aggre- gating $217 million of invest- ment across the eastern United States and is targeting another 14 additional projects with an aggregate value of $243 million in the pipeline. James E. Hanson II , Presi- dent andCEOof TheHampshire Cos. added, “With over 20 years of self-storage development, our team has been integral in the successful evolution of the asset class to better meet the needs of today’s customers and communities. Our extensive experience allows us to success- fully deliver these best-in-class, modern self-storage facilities to a wide range of markets and bring an important community amenity to underserved areas while providing our investors, lenders and partners with strong returns.”
HI-LIGHTS JANUARY 11 - 24, 2019 NAI CIR REPS. SELLER IN 86,000 S/F BUILDING SALE Companies continues to grow its self-storage portfolio with the opening of two facilities totaling over 200,000 s/f of new, state-of-the-art self-storage space. The two locations, a 110,532 s/f self-storage facility at 1240 Chester Pike in Crum Lynne. and a 93,353 s/f self- storage facility at 59 Lever- ington Ave. in the Manayunk neighborhood of Philadelphia, mark Hampshire’s 32nd and 33rd self-storage developments projects completed since 2012
The two ground-up develop- ment projects speak to Hamp- shire’s time-tested site selec- tion and entitlement capabili- ties. Built around leveraging their experience in deploying capital into mature markets with high barriers to entry and populations underserved by self-storage, Hampshire has shown a unique ability to suc- cessfully deliver institutional quality self-storage projects on time and on budget in a wide variety of markets. As the second largest metropolitan area in the northeast, Phila- delphia’s demographics and market fundamentals aligned perfectly with Hampshire’s suc- cessful self-storage investment strategy. Since 2012 alone, Hampshire has built a robust portfolio of self-storage facilities along the eastern United States having
1240 Chester Pike
and the fourth and fifth devel- opments in the Philadelphia area. The Crum Lynne and Mana- yunk facilities feature modern architecture, climate-controlled storage units and state-of-the- art security systems. They will be professionally operated by Extra Space Storage, one of the nation’s preeminent self-stor-
NAI Mertz’s Jonathan Klear completes sale of 84,400 s/f industrial building in Philadelphia
PHILADELPHIA, PA — NAI Mertz, one of the leading full-service commercial real
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estate firms c o n d u c t - ing business throughout the Uni ted S t a t e s an - nounced that J o n a t h a n Klear , senior v i c e pr e s i -
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Jonathan Klear
dent, recently completed the sale of 3601 Island Ave. in Phil- adelphia. Klear represented the buyer, Ocean Kingdom, Inc. in the purchase of this 84,400 s/f industry facility. “The industrial market in Philadelphia, and the sur- rounding region, is very strong and buyers are extremely at- tracted to acquiring quality fa- cilities with excellent access to the highways like this building on Island Ave., which is located just off I-95,” said Klear. Ocean Kingdom, Inc. will utilize a portion of the build-
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3601 Island Ave. aerial
Upcoming Spotlight Owners & Managers contact: Marisol Chase mchase@marejournal.com www.marejournal.com
ing for its own purposes and will also serve as landlord of the property to two existing tenants. Located on six acres, 3601 Island Avenue is just minutes
features six-inch reinforced concrete floors, ceiling heights from 15 to 23 feet, six tailgates, 14 covered van-high loading po- sitions and office street parking for over 250 vehicles.
from Philadelphia Interna- tional Airport, and offers im- mediate access to I-95 and 76, as well as the Walt Whitman Bridge. The property is serviced by public transportation and
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