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51,000-SF Self Storage Sells for $9M

BERKELEY HEIGHTS, NJ - Post Storage Management has acquired the 661-unit property for more than $166 per sf.

By Eric Peterson | Updated on May 13, 2008

BERKELEY HEIGHTS, NJ – Berkeley Public Self Storage, a 51,171-sf (rentable), 661-unit facility at 310 Snyder Ave. here has been sold for $8.5 million. That sale price factors out to just more than $166 per sf of net rentable space. The property also has approvals for a later expansion.

The property was acquired by the New York-based Post Storage Management LLC, from Tuck Away Mini Storage Inc., a locally-based company. Both sides in the deal were represented by brokers from the Sperry Van Ness National Self Storage Team, specifically national director Nicholas J. Malagisi in Williamsville, NY, and senior self storage advisor Costas Hrousis in Allentown, PA.

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