The Hampshire Cos. sold three self-storage facilities totaling approximately 323,000 square feet in New Jersey.
The aggregate sale price was reported at $38.3 million.
The Dahn Corp., a privately held firm that currently owns and manages more than 90 self-storage facilities nationwide, purchased the properties. Each of these facilities will be re-branded by The Dahn Corp. under its flagship Mini-U-Storage.
The Fort Lee facility is located on Route 46, and consists of approximately 118,000 square feet of space. Prior to the sale, it was operated under the Storage USA flag.
Both the Union and Watchung facilities are located on Route 22, and were operated under the Storage Post brand. The Union facility consists of approximately 106,000 square feet of space, while the Watchung facility consists of approximately 99,000 square feet.
The Hampshire Cos. developed each of these assets within the past six years, and have actively managed them under either the Storage Post or the Storage USA brand.
The Hampshire Cos. is a full-service, private real estate investment fund manager based in Morristown, N.J.
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