NEW YORK CITY-Steve Hryszko, a VP of investment properties for CB Richard Ellis' National Self Storage Properties Group, and Gerry Trainor, managing director for the Institutional Commercial Group at Transwestern, are marketing a self-storage portfolio for $208.6 million. The 11 properties, known as Storage Post are owned by a group of investors called ASP North, GlobeSt.com has learned, and are located in New York and New Jersey.
The locations for the properties include: 4077 Park Ave. in the Bronx, NY; 640 Rockaway Turnpike in Lawrence, NY; 301 Fordham Rd. in the Bronx; 30-28 Starr Ave. in Long Island City, NY; 112 Bruckner Blvd. in the Bronx; 131 Sawmill River Rd. in Yonkers; 363 Huguenot St. in New Rochelle, NY; 48 Metropolitan Ave. in Queens, NY; 191 Broadway in Jersey City; 401 S. Park Ave. in Linden, NJ; and 2 Dunnigan Drive in Suffern, NJ.
Trainor tells GlobeSt.com that 112 Bruckner Blvd. in the Bronx, 131 Sawmill River Rd. in Yonkers, 363 Huguenot St. in New Rochelle and 30-28 Starr Ave. in Long Island City were purchased in Aug. 2006 as a value-add deal. “The properties were severely under managed and are in the process of being turned around through capital improvements and a disciplined leasing program.”
Trainor tells GlobeSt.com that the properties comprise a total of 923,706 sf and are currently 72% leased. “The seller wants to leave some meat on the bone,” he explains, when noting that now is a good time for selling, “so that the buyer would have the opportunity to lease out the remaining space.”
Trainor notes that most of the properties are new properties, built within the past few years. The property located at 48 Metropolitan Ave. in Queens is currently under construction and will be completed in May 2008. The property located at 640 Rockaway Turnpike in Lawrence, Trainor explains, “is a new construction and came in service in October 2006.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
