Storage Post Buys Metro NYC Facility
The deal brings the firm’s footprint in New Jersey to seven assets.
Storage Post Self Storage has acquired a 50,000-square-foot facility in Newark, N.J., in a transaction brokered by Marcus & Millichap. Vertical Fields sold the asset, according to Yardi Matrix information.
The deal brings Storage Post’s footprint in the state of New Jersey to a total of seven assets. Prior to the sale, the facility operated under the CubeSmart brand. Marcus & Millichap Managing Director Robert Bloch arranged the sale.
Originally completed in 1995, then redeveloped in 2023, the six-story property is at 353–367 Park Ave. Amenities include gated access, on-site manager, parking area and climate-controlled interiors. The units range from 30 to 144 square feet, Yardi Matrix data shows.
READ ALSO: Self Storage Industry Trends
The Newark storage facility is close to Interstate 280, which connects the property to Midtown Manhattan, 15 miles east. Major thoroughfares in the area include New Jersey state routes 3 and 21.
The self storage landscape in New York suburbs
As of December 2025, the average street rate in the New York suburbs clocked in at $22.43 per square foot, reflecting a 10-basis-point drop month-over-month, yet significantly higher than the national figure of $16.32 per square foot, according to a recent Yardi Matrix self storage report. Additionally, the value registered in New York’s suburbs ranked fourth nationwide, trailing behind Los Angeles ($27.25 per square foot), the San Francisco Bay Area ($26.06 per square foot) and San Diego ($23.59 per square foot).
During the same month, self storage completions in the metro’s suburbs accounted for 3.2 percent of starting inventory on a trailing 12-month basis and 14.6 percent on a 36-month basis. The area’s annualized rent growth for non-climate- and climate-controlled main unit types stood at 1.3 percent.
