Snapbox Self Storage, which operates 29 facilities in 10 states, will convert a vacant mall to self-storage in Hamilton Township, N.J. The company has received zoning approval to renovate the 43,000-square-foot structure and add more than 38,500 square feet of space. Plans include aesthetic improvements to the exterior, according to the source.
The property at White Horse-Mercerville Road has been vacant for five years. It was previously home to a Cost Cutters salon and Mega Dollar store, among other retailers. The Mega Dollar outlet was the last to close, the source reported.
“To see that one of our most visible vacancies will be filled is great news, and in the process, this project will help to enhance the appearance of the property and yield us more commercial ratables (tax revenue),” Mayor Kelly Yaede told the source.
A mall property next door is also vacant. Though its owners don’t have immediate plans to fill the space, they have reached out to the township to begin discussions about its future, according to the source.
Snapbox is the primary operating brand of Self-Storage Capital Partners (SSCP), a Philadelphia-based real estate investment and management company. SSCP executives have more than 35 years of collective experience in acquiring, operating, repositioning and underwriting self-storage properties, according to its website.
Source:
Insider NJ, New Storage Facility to Fill Vacant Mall, Improving Appearance and Delivering Higher Ratables
