Chicago-based Jones Lang LaSalle announced Thursday its New York office completed the sale of two self-storage facilities in New Jersey. The assets, totaling 163,090 square feet, were purchased as part of a $21.3 million portfolio that included a Maryland self-storage facility.
According to the announcement, the 51,975-square-foot facility at, 101 U.S. Route 9, in the Marmora section of Upper Township, was constructed in 2007 and contains a total of 449 storage units. The 111,115-square-foot property at 555 N. Olden Ave., in Trenton, was built in the 1920s as an industrial facility, and converted to a self-storage facility in 2005, with 1,030 heated and air-cooled units.
The seller, 21st Century Storage, was represented by Doug McCarron, Steve Mellon and Pete Williams, managing directors, with JLL's national self-storage team, along with Joseph Garibaldi, managing director, and James Molloy III, senior vice president. The buyer was represented in-house, the company said in a statement.