Officials with Diversified Properties and joint venture partner 1026 Real Estate Investors, along with Montville officials, took part in the project's groundbreaking.
MONTVILLE, NJ—Locally-based Diversified Properties, LLC has broken ground on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road here.
The development is a joint venture with 1026 Real Estate Investors, LLC, a New York City-based real estate investment firm headed by principal, Douglas Oliver. The facility will be professionally managed by CubeSmart Self Storage.
More than 40 attendees, including Montville Township Mayor Richard Conklin, joined Nicholas Minoia, managing partner of the full-service real estate company, at the construction launch. The facility will be professionally managed by CubeSmart Self Storage. Other local dignitaries at the groundbreaking also included Montville Deputy Mayor Frank Cooney, Committeewoman June Witty, along with family, friends, business associates and team members of Diversified Properties and 1026 Real Estate Investors.
"This is a particularly special project for Diversified Properties as it is literally located adjacent to our corporate offices—and my family and I live in Montville and have deep roots in our community," Minoia said. "Diversified Properties has a strong working relationship with Mayor Conklin, the Township Committee, the Planning Board and Township staff; we thank them for their commitment to helping us get to this momentous occasion and bring a great tax ratable to Montville."
The 2.5-acre site, previously approved for an office building, is located with access and signage via Route 202, just off the I-287 exit ramp, with visibility from I-287. All entitlements are in hand for the ground-up facility, which features more than 800 storage units including dozens of direct access units.
"Diversified Properties' development of this self-storage facility brings with it a strong ratable for our township," said Montville Mayor Conklin. "This is a rewarding day in Montville. It's important to note that Nick worked closely with us to customize the building's façade to meet our township's design and architectural criteria, ensuring the building's elevations are harmonious with the nearby office building."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
