Storage Post Self Storage, a private company that operates storage facilities along the East Coast and in the South, has acquired a 280,000-square-foot Moishe’s Self Storage property in Brooklyn, N.Y., for $95.6 million. The structure at 35 Ryerson St. is known for its distinctive, bright-red exterior.
The nine-story building is near the Brooklyn Navy Yard and is a former manufacturing plant for the Mergenthaler Linotype Co., according to the source. It was built by the government in 1942 and leased to Mergenthaler during World War II. The red exterior was added in 2010.
Moishe’s Self Storage continues to operate a facility in the Bronx and another in Queens that comprise a total of 500,000 rentable square feet, according to its website.
Storage Post currently operates nine self-storage facilities in the New York City boroughs of the Bronx, Brooklyn and Queens, and 19 statewide, according to the company website. Headquartered in Atlanta, it has more than 30 locations in Florida, Georgia, Louisiana, New Jersey and New York. Since 2012, the company has expanded its portfolio with more than 30 property acquisitions.
Sources:
- The Real Deal: Clinton Hill Self-Storage Warehouse Goes for $96M
