Storage Post Acquires 2 Self-Storage Facilities on Long Island, NY
|Copyright 2014 by Virgo Publishing.|
|Posted on: 09/04/2013|
Storage Post Self Storage has acquired two properties on Long Island, N.Y., from a privately owned facility operator.
The first facility, 380 Oakwood Road in Huntington Station, consists of 43,841 square feet and 585 units. Features include climate control, accessible loading areas, moving supplies, two points of vehicle entry and car-rental parking. Located on a high-visibility, north-south road, the facility has large retail frontage, and Storage Post anticipates steady demand, according to a press release.
The second facility, 1960 Veterans Memorial Highway in Islandia, has 902 storage units within 85,350 rentable square feet, and includes rental-parking spaces. The ground-level facility is on nearly 6 acres off a four-lane divided highway. Its features include drive-up units, moving supplies and a detached rental office, with potential for increased retail prominence on the busy roadway.
"Jack Giannola, our director of acquisitions, worked closely with the seller to engineer a competitive offer tailored to the unique qualities of the purchased assets,” said Dylan Delaune, chief investments officer. “We look forward to folding these two facilities into the Storage Post brand and continuing to provide excellent service and valuable returns."
CEO Bruce Roch Jr. and his team have purchased 16 self-storage facilities on behalf of Storage Post in the past two years, including the company’s newly renovated buildings in Long Island City, New Rochelle and Yonkers. The company is seeking expansion opportunities through ground-up development, the purchase of existing storage facilities and select management contracts, company officials said.
Headquartered in Atlanta, Storage Post has locations along the East Coast and throughout the South.