Storage Post Self Storage has purchased a facility in New York City from a local developer. The company had managed the property under its brand name since March 2012. Financial terms were not disclosed.
Located at 979 Brook Ave. in the Bronx, the facility is comprised of 83,000 square feet and 770 storage units.
"Our executive team is excited to add the Brook Avenue self-storage facility to Storage Post's portfolio. We believe our internal operations, paired with our industry expertise, allows us to maximize the property's operational value,” said Dylan Delaune, chief investments officer. “Our platform gives us a competitive advantage, allowing us to pass favorable economics on to owners looking for an exit."
Headquartered in Atlanta, Storage Post has more than 20 locations throughout Georgia, Louisiana, New Jersey and New York. The company is actively pursuing growth opportunities through the acquisition, redevelopment and management of existing self-storage properties. The company targets both single property and portfolio transactions.