Moore Self Storage in Staten Island, N.Y., sold Aug. 3 at an 8.5 percent cap rate. The family-owned and operated facility is on the south shore of Staten Island, 20 miles from Manhattan. The property includes 38,400 rentable square feet and climate-controlled units.
The property was attractive to buyers due to its close proximity to a regional shopping mall and the Outerbridge Crossing to New Jersey.
Linda Cinelli of LC Realty represented the seller. Cinelli is the Argus Self Storage Sales Network broker affiliate for the northern New Jersey and NYC/Long Island markets.
Based in Denver, the Argus Self Storage Sales Network was formed in 1994 to assist owners and investors of self-storage. Argus has 36 broker affiliates covering nearly 40 markets.