NEW JERSEY—A limited liability company has purchased The Spare Room, a 36,400-sq.-ft. self-storage facility located at 392 Harding Highway in Carneys Point, N.J. for $1.7 million.
Bob Gentile, an investment specialist in Marcus & Millichaps’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller. The buyer was also secured and represented by Gentile.
Located at 392 Harding Highway, the property consists of 329 self-storage units and was 98 percent occupied at the time of the transaction.
“The property was marketed for less than two weeks and substantial interest was generated,” said Gentile. “The ultimate buyer stepped up and closed in less than 60 days.”