The development will be the company’s 13th in its joint venture with Fremont Realty Capital
December 29, 2016:
Based in Lake Forest, Ill., Metro Storage LLC, which manages over 120 self-storage
properties in 12 states, has recently acquired a former manufacturing facility in Wood Ridge, N.J., that it plans to demolish to make way for a new Metro Self Storage facility.
The self storage facility will have 85,000 rentable square feet of storage space in 883 climate-controlled units. The property features will include covered loading/unloading areas, elevators, state-of-the-art security components, and a modern retail office, according to a company press release.
“We’ve had great success in the New York/New Jersey market and are looking forward to continuing our expansion with the repurposing of this property into a modern, consumer-friendly, self-storage facility,” said Matthew Nagel, chairman of Metro Storage.
“We knew this property was a good selection for development due to its excellent location on an extremely busy arterial street in an area with great demographics,” added Blair Nagel, CEO of Metro Storage. “This new facility with its state-of-the-art amenities will effectively serve the storage needs of the surrounding community.”
Fremont Realty has been an active investor in the European and U.S. self-storage sector since 1997. It originates, structures, closes and manages private-equity investments in public and individual real estate projects, programmatic real estate investment vehicles, and private real estate operating companies.