Mid Atlantic Real Estate Journal — New Jersey — November 8 - 21, 2013 — C
N ew J ersey
Specializing in multi-family, Regal Bank is ready to lend.
Simply Self Storage acquires properties Jones Lang LaSalle sells storage portfolio for $21.3m
$2,500,000 432unitmulti-familybuilding Haddonfield,NJ
$3,000,000 44unitmulti-familybuilding UnionCity,NJ
$1,400,000 35unitmulti-familybuilding EastOrange,NJ
A R M O R A , N J — Jones Lang LaSalle completed
$1,410,000 27unitmulti-familybuilding EastOrange,NJ
the sale of a portfolio of three self-storage facilities, totaling 226,455 s/f, for 21st Century Storage. Kurt O’Brien acquired 5301 Park Heights Avenue in Baltimore, 101 U.S. Route 9 in Marmora, N.J., and 555 North OldenAvenue in Trenton, N.J., for $21.3 million in early Sep- tember. Simply Self Storage will manage the three assets. The seller, 21st Century Stor- age, was represented by Doug McCarron , Steve Mellon and Pete Williams , managing directors, with JLL’s national self-storage team, along with Joseph Garibaldi , managing director, and James Molloy III , senior vice president. The buyer was represented in- house. “This was a highly compel- ling, turnkey opportunity for Simply Self Storage to acquire an existing, quality self-stor- age portfolio with considerable remaining upside,” saidMcCar- ron. “All three facilities have generated consistent revenue growth over the past year and are situated at high-traffic locations with exceptional vis- ibility.” The 60,505-s/f 5301 Park Heights Avenue in Baltimore was constructed in 2005 and contains a total of 894 stor- age units. The one-building self-storage facility offers 881 climate-controlled units, nine nonclimate-controlled units and four uncovered recreational ve- hicle/surface units. It includes an on-site apartment, 24-hour video surveillance, a secure gate, control key pads and a state-of-the-art customer ser- vice office. The 51,975-s/f 101 U.S. Route 9 in Marmora, N.J., was con- structed in 2007 and contains a total of 449 storage units. The four-building self-storage facility includes 287 climate controlled units, 151 nonclimate controlled units and 11 uncov- ered recreational vehicle/sur- face units. It includes an on-site apartment, 24-hour video sur- veillance, a secure gate, control key pads and a state-of-the-art customer service office. The 111,115-s/f 555 North OldenAvenue in Trenton, N.J., was originally constructed in the 1920s as an industrial facil- ity and converted to a self-stor- age facility in 2005. The one- building asset contains 1,030 heated and air-cooled units and
•Non-recourse loans available up to $4.5 million • Low interest rates • Extended amortization • Flexible prepayment options
Livingston, Roseland, Florham Park, Millburn & West Orange (973) 716-0600 • regalbanknj.com
101 U.S. Route 9, Marmora, NJ
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four uncovered recreational ve- hicle/surface units. It includes 24-hour video surveillance, a
secure gate, control key pads and a state-of-the-art customer service office. n
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Somerville, New Jersey 55,000± SF Office and Retail Building Jeff Squires ext 246
Paterson, New Jersey 56,000± SF Retail and Medical Robert Squires ext. 287
Hoboken, New Jersey 16,000± SF Retail plus 10 Residential Units Scott Davidovic ext 290
Neptune, New Jersey 17,148± SF Office and Warehouse Daniel Lanni ext 248
Vineland, New Jersey 96 Residential Units Matt Weilheimer ext 253
Paterson, New Jersey 92 Residential Units Joseph Keenan ext 256 Jonathan Greenberg ext 258
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