Storage Post Self Storage has acquired a four-property self-storage portfolio, totaling roughly 370,000 square feet in New York, from Harrison Street. JLL Capital Markets brokered the transaction on behalf of the buyer.
Storage Post has been managing the properties since 2016 and will continue to operate the assets under the firm’s brand. The portfolio sale marks the company’s 6th purchase since the beginning of the year.
The first asset, located at 1000 Axinn Ave., in Garden City, N.Y., encompasses one three-story building and roughly 76,218 net rentable square feet of non-climate and climate-controlled units, ranging from 21 to 300 square feet. Despite the other nine available facilities in the area within a 3-mile radius, the market remains underpenetrated, offering residents 3.8 net rentable square feet per capita, significantly below the 7 national average.
The second facility acquired is located at 50 Carnation Ave., in Floral Park, N.Y. and comprises 89,250 net rentable square feet and a mix of non-climate and climate-controlled units, varying from 20 to 160 square feet. There are 13 available facilities within a 3-mile radius, offering 3.1 net rentable square feet per capita. RV and boat parking are also available.
Each property features 24-hour video recording, secure coded entry, covered indoor loading bays, drive-up storage units and on-site parking.
The portfolio also included:
- A 27,351-square-foot facility at 280 Broadway in Huntington Station, N.Y. that offers non-climate and climate-controlled units, ranging from 21 to 220 square feet, and RV and boat parking. There are 5 available storage assets within a 3-mile radius, marking 1.9 net rentable square feet of storage space available per capita.
- Another 18,274-square-foot property is in Westchester Countyat 1760 Front St., in Yorktown Heights, N.Y., encompassing a mix of non-climate and climate-controlled units, from 25 to 100 square feet. The facility is the only one located in a somewhat more penetrated market, with the area’s per-person inventory accounting for 5 net rentable square feet.
Storage Post is focusing on expanding its footprint across New York. Just last week, the company acquired a 160,000-square-foot facility in New York’s Bronx, from Wildflower.