103 Grove St. in Montclair — Courtesy: CBRE
By Joshua Burd
A new self-storage facility is coming to Montclair after a developer’s purchase of about three-quarters of an acre near the downtown, brokers with CBRE announced Thursday.
The buyer, BB Capital LLC, paid an undisclosed price for the tract at 103 Grove St. CBRE’s Charles Berger, Elli Klapper and Mark Silverman represented the seller, Peptco, noting that the site is near a growing neighborhood just blocks from NJ Transit’s Walnut Street station.
“We have arranged the sale of several redevelopments in Montclair, as well as throughout New Jersey over the past few years and this newest transaction further highlights the state’s continued market strength, specifically in the multifamily and industrial sectors,” Berger said. “While complex transactions are extremely challenging, our team specializes in these type of mid-market deals that can transform entire neighborhoods.”
