Friendly Self Storage at 128 Lincoln Blvd. in Middlesex Borough — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A longtime owner has sold a 72-unit self-storage property in Middlesex Borough for nearly $1.1 million, in one of three newly announced deals by The Kislak Co. Inc.
According to the brokerage team, the facility at 128 Lincoln Blvd. dates back to 1947 but was renovated in 1997. The operator, Friendly Self Storage, benefits from a highly trafficked location within one mile of more than 375 apartments.
“The demand for commercial real estate investment properties in central New Jersey has been astounding,” said Kislak Sales Associate Max Levinston, who represented the seller and procured the purchaser.
An undisclosed buyer paid $1.095 million for the 0.44-acre property.
“The seller sold the property after owning and managing it for more than 20 years in a market with an extremely high demand for self-storage investments,” Levinston added. “Our marketing process resulted in over a dozen offers from local, regional and national investors.”
Kislak also announced the sale of a vacant 3,000-square-foot office building at 38 North Gaston Ave. in Somerville, for $480,000. Built in 1989, the two-story structure sits on 0.29 acres and includes seven private offices, kitchenette areas on each floor, a full basement for tenant storage and parking for 14 cars.
Levinston brokered the trade as well as that of a 3,045-square-foot corner retail property at 345 North Main St. in Manville. A private buyer paid $468,000 for the vacant, single-story building, which was constructed in 1900 and renovated in 2007.