231 East Lake Road in Pilesgrove — Courtesy: Marcus & Millichap
By Tina Traster
Marcus & Millichap has negotiated the sale of Woodstown Mini Storage, a 22,480-square-foot self-storage facility in the Salem County township of Pilesgrove.
The firm announced Wednesday that the asset, located at 231 East Lake Road, sold for $2.5 million. Matthew Junkin, an investment specialist in Marcus & Millichap’s King of Prussia, Pennsylvania office, represented Woodstown Mini Storage LLC in the sale, with assistance from Brian C. Hosey, the firm’s broker of record in New Jersey.
“I am thrilled with the ease and timing of this transaction,” Junkin said. “Our sellers were able to obtain a full asking price offer for the property, which helped them quickly close on it and go into retirement. I wish them nothing but the best and look forward to serving more clients in the same manner.”
Built in 1985, the Pilesgrove property is the lone self-storage facility serving the township within a five-mile radius, Marcus & Millichap said. It sits close to Route 40 and has 188 fully occupied drive-up units, with nearly 92 percent occupancy, and 36 outdoor parking spaces.
