Metro Storage to Develop NJ Facility
The firm has acquired land in South Brunswick, southwest of New York City, to construct a 668-unit self storage facility. The project is slated for completion by the third quarter of 2019.
By Evelyn Jozsa
Metro Storage LLC is set to develop a 75,000-square-foot self storage facility on a recently purchased land in South Brunswick, N.J. Construction is scheduled to start in the coming months and it is slated for completion by the third quarter of 2019. The development will mark Metro Storage’s 10th facility in New Jersey.
Located at 3963 U.S. Route 1, the property is situated southwest of New York City, in a densely populated region. The area is surrounded by many apartment communities, including the 910-unit Southbridge Woods and 224-unit East Garden.
The facility will comprise 668 units and will feature climate-controlled and traditional drive-up access storage spaces. Additional characteristics of the storage asset will include interior drive-in loading and unloading bays with several access points around the building, elevator access and security system.
“This site, with over 500 feet of frontage, provides us the strong retail visibility that we strive for in our developments. The mix of interior climate controlled and traditional drive up access units will provide options to meet all of the storage needs of the surrounding community,” said Marty Gallagher, president of Metro Storage LLC, in prepared remarks.
In June, the company received $47.4 million bridge loan secured by a portfolio of seven self storage facilities totaling 539,000 net rentable square feet.
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