(Save the date: RealShare New Jersey comes to the Hyatt Regency, New Brunswick, NJ, September 19.)
WOODBRIDGE, NJ-Onyx Equities is expanding its interest and holdings in self-storage units, which the Woodbridge-based firm sees as increasingly attractive commercial real estate niche. Onyx has added 2,500 self-storage units to expand the total number it manages in receiverships to 8,000 units.
The real estate investment, development and management firm has gained the assignments through NJ Self Storage, which has numerous locations throughout New Jersey.
“Having a self-storage focus is another way to showcase Onyx’s diversification,” says Samuel Giordano, CFO for the company, in a release. “Self storage is an important niche for commercial real estate, and all of these units are well located and well maintained, with knowledgeable onsite staff.”
NJ Self Storage provides indoor and outdoor units at sites in Cranbury, Monroe, Deptford, Egg Harbor, Fort Lee, Manchester, Marlboro/Englishtown, North Bergen, North Brunswick, Union, Watchung and West Creek.
Onyx was founded eight years ago in Woodbridge. It currently owns, manages, or is the appointed receiver for 14 million square feet of office, retail, industrial and self-storage properties in New Jersey, New York, Connecticut and Pennsylvania.
According to the Self Storage Association, the self-storage industry has been the fastest growing segment of the commercial real estate business in this country over the last 30 years. In 2010, it had revenues of more than $20 billion.
Gretchen S. Wilcox, president of GS Wilcox & Co. investment bank, tells GlobeSt.com that self-storage is one of the top five most desirable types of real estate for investors right now. Wilcox, whose company is located in Morristown, is one of the scheduled panelists at the RealShare New Jersey conference at the Hyatt Regency in New Brunswick Sept. 19.
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