PRESS RELEASE: York, PA – September 17, 2015 – Storage Station in Wayne, NJ
Investment Real Estate, LLC announces the sale of Storage Station in Wayne, New Jersey for $2,880,000 to a private investor. Storage Station is located on the Hamburg Turnpike (Route 202) and close to Interstate 287 and Interstate 80. Wayne is in Passaic County about 13 miles north of Newark and northwest of New York City.
Storage Station in Wayne has 2 buildings with 292 units, totaling 31,082 SF of self storage, which includes drive up and interior access temperature controlled units. The property enjoys excellent visibility from Hamburg Turnpike, which serves as the main north-south artery for the area and boasts high traffic counts.
The facility open in 1998 and is situated on almost two acres of commercially zoned land. The property features a fenced perimeter, paved driveways, keypad operated electronic gate, camera system, exterior lighting, metal roll-up doors and metal roofs. Storage Station also offers an on-site rental office which is open six days a week. The facility was at 82% occupancy at the time of sale.
John Gilliland, President & CEO, says, “This sale was the part of a six property portfolio sale exclusively handled by Investment Real Estate for a private investor. We sold him this property 10 years ago and now we are proud to have been asked to execute the exit strategy. We wish the Seller well in his new ventures. Investment Real Estate also represented the Buyer in the transaction. We are excited to assist this purchaser in the acquisition of the property. We believe he will do very well with this property.”
For more information, contact Jess Dubbs, Director of Marketing.