Space Relief Center in Newton, N.J., was sold for $5.2 million to a private investment group. The property at 106 Hampton House Road has been rebranded as Moove In Self Storage. The 17-acre site consists of 11 single-story buildings containing more than 500 units. The buyer and the seller were represented by John Gilliland, CEO and president of Investment Real Estate LLC.
“This sale was finally consummated after numerous years of cooperative work between the seller and the broker to maximize the value of the property,” Gilliland said. “The seller realized that prices are at all-time highs and he took the initiative to liquidate the asset.”
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors.