Strategic Storage Trust Inc., a publicly registered, non-traded real estate investment trust that operates self-storage properties, has purchased a facility in Toms River, N.J., for $5.2 million. The property is the company’s second self-storage acquisition in the Toms River area, and will be rebranded under the SmartStop Self Storage trade name.
The facility at 1864 Route 9 is comprised of 45,630 square feet and 490 units. Developed in 2007, the two-story facility has drive-up units, video cameras, climate-controlled units, keypad entry and a retail office for onsite management.
“This recently developed property is the perfect addition to our growing New Jersey portfolio and offers additional upside potential,” said H. Michael Schwartz, chairman and CEO.
The Toms River property is in Ocean County near the Jersey Shore communities of Dover Beaches, Pelican Island, Seaside Heights and Seaside Park. Toms River is approximately 30 miles east of Trenton, N.J., and approximately halfway between New York City and Atlantic City.
Strategic Storage Trust entire portfolio includes more than 100 facilities in 17 states and Canada that are branded as SmartStop Self Storage. The portfolio includes approximately 70,000 self-storage units and 9.3 million square feet of rentable storage space.