This is the company’s fourth and fifth projects in the area
December 17, 2018: Hampshire Real Estate Cos. has opened two new self storage facilities near Philadelphia. Hampshire is a private real estate investment and self-storage operating firm headquartered in Morristown, N.J. These are company’s 32nd and 33rd self-storage developments since 2012.
The facilities comprise a total of more than 200,000 square feet of space. The three-story facility located at 1240 Chester Pike in Crum Lynne comprises 110,532 square feet, it is near to Ridley Park, Pa. while the second facility located at 59 Leverington Ave. in Phildelphia’s Manayunk neighborhood encompasses 93,353 square feet. Both the facilities will be managed by Extra Space Storage Inc. is a real estate investment trust and third-party management firm headquartered in Salt Lake City. The facilities will be branded under the name of Extra Space Storage Inc.
“While we have a long history in self-storage, we’ve been particularly bullish on development opportunities for the past few years. We continually look to source deals in underserved, densely populated areas in an effort to deliver these increasingly in-demand assets and deliver them to local markets throughout the northeast. Crum Lynne and Manayunk are both excellent locations with strong demographics that fit extremely well within our self-storage investment strategy, and we look forward to continuing to pursue opportunities in this market.” Said by Don Engels, senior vice president of self-storage acquisitions and development.
Hampshire Real Estate Cos. founded in 1976 has 12 development projects underway across the Eastern United States, a $217 million investment. The company is targeting another 14 projects with an aggregate value of $243 million.