Bridge Self Storage in Toms River, N.J., sold for $5.7 million to Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market. Its the companys fifth purchase in the New Jersey market. The facility will be rebranded under the SmartStop Self Storage trade name.
Built in 2006, the facility has 81,000 square feet on 2.8 acres. Its comprised of 630 storage units, 63 of which are drive-up exterior units with the remaining units interior climate-controlled. The two three-story buildings include a rental office and a rooftop solar-power generation system. Located at 3200 Route 37 East, this highly visible site is the first self-storage facility just over the bridge serving Toms River and the Barnegat Peninsula on the Jersey Shore.
John H. Gilliland and John E. Barry of Investment Real Estate LLC represented the seller and buyer. The company provides self-storage brokerage, construction, feasibility and consulting services in the Northeastern and Mid-Atlantic states.
Since the companys launch in 2008, Strategic Storage Trust Inc.s portfolio has expanded to include 79 facilities in 17 states and Canada.