Jerome Avenue Storage Associates LLC, an affiliate company of American Self Storage, has acquired a 90,000-square-foot property in the Bronx, N.Y., for $9 million from Boss Realty LLC/Plaza Packaging Corp. American held a lease on the property at 1339 and 1351 Jerome Ave. with an option to buy since 2011, according to the source. The site also contains Antillana Supermarket, a 12,000-square-foot grocery store.
“American Self-Storage has been operating out of the space for the past four years and benefited tremendously from its central location between the Westchester suburbs and New York City,” said Grant Dolgin, vice president of Kalmon Dolgin Affiliates Inc., which brokered the deal. “The ownership acted on its option to buy, deciding to make a long-term commitment to the neighborhood and property that has served the company so well.”
Plaza Packaging occupied the space for 50 years prior to 2011. It used the property, which is connected to 1320 and 1342 Inwood Ave., as a manufacturing warehouse for its packaging products, according to the source. The deal was finalized on May 6.
American operates four self-storage facilities in New Jersey and six in New York.
Sources:
- Commercial Observer: 90K-Square-Foot Bronx Property Trades for $9M
