PRESS RELEASE: York, PA – November 11, 2016 – Sale of CNS Self Storage in Egg Harbor, NJ
Investment Real Estate, LLC announces the sale of CNS Self Storage for $2,125,000 to a private investor. CNS Self Storage is located in Egg Harbor, NJ in Atlantic County.
CNS Self Storage is comprised of six single story buildings with more than 160 drive-up access self storage units as well as over 30 outdoor parking spaces. The property boasts an on-site rental office and was nearly 80% occupied at the time of sale. CNS Self Storage opened in 2003 and is located on more than 11 acres of industrial zoned land. Land and approvals for an additional 58,000 SF as well as an on-site apartment were included in the sale.
The property enjoys excellent visibility from Aloe Street and Genoa Street and sits just one black off White Horse Pike (Route 30), which is a major artery for the area. Property improvements include asphalt driveways, exterior lighting, camera system and automatic entrance gate.
John H. Gilliland, President of Investment Real Estate, states, “We were happy to get this asset sold for the Seller. It took a number of years for the market to recover and restore value for the additional land, approvals and infrastructure the Seller had invested in. With the southern NJ market now in a solid recovery mode, the Buyer is immediately constructing three new buildings upon settlement. We wish him well with this new site.”
For more information, contact Jess Dubbs, Director of Marketing.