MJ Partners Self Storage Group announces the $42 million sale of a six property self storage portfolio on behalf of Babcock and Brown and four lenders to Glendale, California based Public Storage. The portfolio consists of approximately 517,000 rentable square feet and 5,500 storage units, and all properties were developed within the last three years. Locations include Wayne, New Jersey; Randolph, Massachusetts; Philadelphia, Pennsylvania; Montclair, California; Pompano Beach and Hialeah, Florida. “This portfolio is approximately 65% occupied, and additional lease up is anticipated to fill up each property within 24 months,” states Marc Boorstein, principal with MJ Partners. Marc Boorstein and Jeff Jacobson of MJ Partners represented the ownership and four lenders in the all-cash transaction]]>
More Content
Popular Posts
The self storage industry is in a precarious...
The REITs new pricing strategy – lowering...
There are an estimated 700,000 hotels in the...
In a booming economy, expendable income...
Boat and RV storage has morphed and...
Self-storage is not an industry that is...
The question of “abandonment” of stored...
With the approval of both companies’...
National Storage Affiliates Trust (NSA), the...
It’s said that necessity is the mother of...
It’s odd that I ever get the “last word,”...
Mother Nature can be a cruel mistress....
As children, most of us played “follow the...
Over the last five years, as the use of...
XYZ Storage wants to make life for its...
Recent Posts
"It was one of my first shifts as a new...
Joe Shoen, CEO of U-Haul, has had enough.
If you’ve read the story about our 2024...
Self-storage is a space that’s full of...
Forty miles from Manhattan but feeling a...
Every industry has noteworthy members. This...
According to Harvard Business Review, 80...