Toms River, NJ – Strategic Storage Trust, Inc. (SSTI) – a publicly registered non-traded REIT investing in self storage – has purchased an approximately 45,630 square foot, 490-unit self-storage facility located at 1864 Route 9 (Lakewood Rd) in Toms River, N.J. for a purchase price of $5.2 million. This property will be re-branded under the SmartStop®Self Storage trade name.
This is SSTI’s second self-storage facility in Toms River. SSTI’s other Toms River facility is located seven miles away at 3200 Route 37 East.
Developed in 2007, the two-story self-storage facility offers drive-up units, surveillance cameras, climate-controlled units, keypad entry and a retail office for onsite management.
“This recently developed property is the perfect addition to our growing New Jersey portfolio and offers additional upside potential,” said H. Michael Schwartz, chairman and CEO of SSTI.
The Toms River property is located within the city of Toms River, N.J. in Ocean County near the Jersey Shore communities of Pelican Island, Dover Beaches, Seaside Heights and Seaside Park. Toms River is located approximately 30 miles east of Trenton, N.J. and approximately halfway between New York City (50 miles to the north) and Atlantic City (40 miles to the south).
SSTI currently owns five other self-storage facilities in New Jersey:
- 3200 Route 37 E. In Toms River (625 units)
- 112 State Route 23 in Riverdale (805 units)
- 112 SR-23 in Riverdale (805 units)
- 69 Mallory Avenue in Jersey City (1,095 units)
- 3600 Quakerbridge Rd. in Trenton (665 units)