The two-property Storage Station self-storage portfolio in Toms River, N.J., has sold for $1.95 million to a private-investment group. The portfolio includes two separate facilities about 1.5 miles from each other in Ocean County, N.J.
The property at 25 St. James St. sits on 3 acres of land and is within a block of New Jersey Routes 37 and 166 as well as Garden State Parkway. Opened in 1982, it consists of two buildings, a rental office and land for expansion. The property also includes a single-family residence that’s currently rented. Construction has been retained to re-roof the facility this fall, according to a press release from Investment Real Estate LLC (IRE), the real estate investment group that brokered the transaction and managed the portfolio.
The Storage Station at 29 Flint Road is between New Jersey Route 166 and Main Street. Opened in 1982, it sits on nearly 1.5 acres of land and consists of six buildings. It’s managed through the James Street rental office.
Amenities at both properties include asphalt driveways, exterior lighting, remote-controlled automatic gates and video cameras. The James Street location also offers U-Haul truck rentals.
Storage Station has sold all of its properties, which included five in New Jersey and one in New York, which was sold in July for $1.9M. Founded in 1999 in New Jersey, Storage Station has acquired and rebranded several storage facilities in New Jersey and New York over the years.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors. Its construction arm was founded in 2000 and has built more than 2 million square feet of self-storage space in eight states.