Storage Post Expands New Jersey Footprint

1 min read

The acquisition marks the firm’s 28th asset in the New York metro.

Storage Post-Linden South. Image courtesy of Storage Post

Storage Post Self Storage has acquired a 107,000-square-foot facility in south Linden, N.J., marking its 28th acquisition in the New York metro area. The property last changed ownership in 2018, when Madison Development paid $12.1 million for the asset, Yardi Matrix data shows. Public Storage was the previous manager of the facility.

Completed in 2005 and renovated in 2019, Storage Post-Linden South comprises roughly 93,663 net rentable square feet of climate-controlled units, ranging from 20 to 300 square feet. Property amenities include live virtual customer assistance, elevated loading bays, security features, motion-activated lighting, as well as RV and boat parking.

Located at 1051 Edward St., the facility is next to a high-traffic retail corridor, next to Walmart Supercenter, Target and Home Depot. There are 11 storage properties available within a 3-mile radius, offering residents 5.5 net rentable square feet per capita, below the 7 national average, yet still higher than New York’s 3.6 net square feet per person inventory.

Storage Post owns another 114,385-square-foot facility within 3 miles of Storage Post-Linden South. There is one property under construction within a 5-mile radius that will add 97,607 square feet to the current inventory, Yardi Matrix data shows.

The company is seeking to expand its presence across the New York metro, as it is one of the most durable markets in the nation, according to prepared remarks from William Palmer III, chief administrative officer & general counsel at Storage Post. Earlier this week, the company bought a 148,000-square-foot facility in Staten Island, N.Y.,  from Abington Square Partners.

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