Macritchie Storage LLC, a self-storage developer based in Calgary, Alberta, Canada, is planning to convert a former soap factory in New Brunswick, N.J., to self-storage. The company purchased the property at 1007 Jersey Ave. for $2.7 million, according to the source.
The 3.8-acre site at the intersection with Howe Lane includes a 50,000-square-foot building. The structure once housed Epic Industries Inc., which is owned by Simoniz USA Inc., a producer of sanitizers, disinfectants and other cleaners, the source reported.
“I initially thought this property would be purchased by another manufacturer, but it turned out to be an excellent fit for Macritchie Storage,” said Jonathan Glick, executive vice president of Sheldon Gross Realty Inc., who brokered the transaction. “The location is ideal for them, and the building’s footprint is well-suited to their specific needs.”
Glick also represented Simoniz when it purchased the property 20 years ago, the source reported.
Macritchie received approval in January to build a two-story self-storage in Lake Zurich, Ill. The site will be managed by self-storage real estate investment trust CubeSmart.
The company is also converting a former SuperValu supermarket in Kenosha, Wis., as well as a former liquor-control warehouse in Lansing, Mich. The projects comprise more than 200,000 square feet of storage space.
Based in West Orange, N.J., Sheldon Gross Realty provides commercial real estate brokerage services to the industrial, office and retail sectors.
Sources:
- Tap Into New Brunswick: $2.7M Property in New Brunswick Could House Storage Facility
