Portfolio

New York and New Jersey Self Storage

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Building Area Net
Land Area Net ()
Number of units 1665
Occupancy 65.0 %

Portfolio description

Addresses

  1. 901 Middle Country Rd., Middle Island, NY
  2. 450 Belleville Turnpike, North Arlington, NJ


OFFERING PRICE- Unpriced

RENTABLE SQUARE FEET - 144,975

NUMBER OF UNITS - 1,665

OCCUPANCY - Physical - 65.2% Economic - 48.5%

Investment highlights

COVETED HIGH BARRIER TO ENTRY MARKETS

The properties’ strategic locations within the Middle Island and North Arlington submarkets of Long Island and New Jersey provide an extremely high-barrier-to-entry environment. As a result, the threat of new supply is extremely limited, not only due to a lack of developable sites, but also because of the area’s highly strict zoning guidelines due to the residential nature of the areas, which restrict the development of new competitive storage properties.


EXISTING CASH FLOW WITH UPSIDE

With an average economic occupancy of 49%, the Portfolio offers healthy in-place cash flow with meaningful opportunity for additional revenue growth over the near term. Both properties are surrounded by excellent population density and very high incomes, so there is opportunity for near term revenue growth through continued lease-up and rental rate optimization.


BEST-IN-CLASS FACILITIES

Both properties within the Portfolio benefit from highly functional, Class A design and amenities. The properties feature premier construction quality, functionality, visibility, security, convenience, and have been institutionally owned and maintained with a long-term hold in mind.


IRREPLACEABLE LOCATIONS WITH EXCELLENT DEMOGRAPHICS

Positioned in two very underserved and densely populated and affluent residential areas, the properties draw from a 3-mile trade area averaging over 120,000 people with very strong household incomes averaging more than $96,000. The 5-mile trade area for the properties averages more than 412,000 with an average household income of over $102,000.


HIGHLY LIMITED SURROUNDING COMPETITION

The properties are strategically positioned with an average supply per capita ratio of less than 3.9 within three miles. The trade area of each property is highly supply constrained with significant household density and affluence, leading to excellent customer demand and strong upward rental rate pressure.

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List View
Map View
New York and New Jersey Self Storage (2 Properties)
450 Belleville Tpke, LLC
North Arlington, NJ, United States
901 Middle Country Road, LLC
Middle Island, NY, United States
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Last Updated Date: 14 Jun 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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