Kokes Properties has broken ground on a climate-controlled, 45,000-square-foot Extra Space Storage facility at the intersection of Lake Road and County Road 530 in Whiting, as depicted in this rendering — Courtesy: Kokes Properties/SAA Architects
By Joshua Burd
Kokes Properties is on track to expand its self-storage portfolio after breaking ground on a new 45,000-square-foot facility in the Ocean County township of Manchester.
The developer said the building, located at the busy intersection of Lake Road and County Road 530, will bring much-needed supply to an underserved market with strong demographics. Extra Space Storage will manage the climate-controlled facility, expanding Kokes’ relationship with the national operator after the companies partnered for a project in Winslow Township.
“We have really enjoyed working with Extra Space,” said Michael J. Kokes, president of Kokes Properties. “Their best-in-class operational expertise has been extremely impressive to watch in Winslow, and we have great confidence that Extra Space’s systematic approach to leasing, paired with its dynamic pricing algorithms, will play a vital role in maximizing the value of our newest storage asset in short order.”
The new facility will be within the Whiting section of Manchester, Kokes said, noting that the firm worked with local officials to designate the site as an area in need of redevelopment under state law. The developer secured all final entitlements for the project in September, paving the way for what it expects will be a completed project by next August.
Kokes’ in-house construction management team will preside over the site improvement installation and buildout of the facility.
“It is an exciting time not only for our company, but for commercial real estate as whole,” Kokes said. “While we remain disciplined in our approach to acquisitions, we are optimistic that the outlook for our industry is very bright.”