Update 8/23/18 – Metro Storage has opened its conversion of a former lawn and garden shop in North Plainfield. It’s the company’s sixth self-storage location in the New Jersey/West New York market, according to a press release.
“New Jersey is an exciting market with lots of opportunity through the population density, and this new facility is a valuable addition to our portfolio,” said Martin Gallagher, president. “Metro is well-established in this market with an operational competitive advantage that enables us to provide our customers with the quality storage experience they expect.”
The facility is near major retailers as well as new and existing residential developments on a highly traveled thoroughfare, the release stated. “We've seen some great results with our storage facilities in the New Jersey/New York City market, and we're excited about the opportunity ahead of us to improve the storage location offerings in this submarket,” said Marc Harris, vice president of operations.
This project is the 13th completed through Metro’s partnership with Fremont Realty Capital, the real estate merchant-banking arm of Fremont Group. Earlier this year, the partnership opened facilities in Addison and Naperville, Ill.
1/7/2016 – Metro Storage LLC, which operates more than 100 self-storage properties in 12 states, has acquired a former lawn and garden store in North Plainfield, N.J., that it plans to convert to a Metro Self Storage facility. The existing two-story structure at 351 Route 22 will be redeveloped into a five-story building comprising 65,000 rentable square feet in 653 climate-controlled units, according to a company press release. The building will include a business office, interior-loading area, and several elevators and entrances. The site is near retail stores and new residential developments on a highly traveled thoroughfare, the release stated. Construction is scheduled to begin in March.
“This is an excellent location and outstanding opportunity for us. We’re looking forward to expanding the Metro presence in the New York/New Jersey market,” said Matt Nagel, chairman.
Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the acquisition, development and management of self-storage facilities nationwide. Its facilities comprise more than 6.7 million square feet of storage space.
Sources:
Markets Insider, Metro Storage LLC Opens New Self Storage Facility in North Plainfield, New Jersey
PR Web, Metro Storage LLC to Convert Former Lawn and Garden Store to Self Storage Facility in North Plainfield, New Jersey
