Linda Cinelli, CCIM, of LC Realty, the New Jersey based Argus Self Storage Sales Network affiliate, is pleased to announce the sale of Castle Self Storage located at 3 Cook Road in Branchville, NJ. The 156-unit facility with a mix of climate and non-climate storage units, parking and a separate retail store, was sold at a cap rate of 4.73%. Occupancy at the time of sale was 65%. The new owner is already planning on expanding the parking area to meet anticipated demand for RV and boat storage. Additionally, the owner plans to update security and to make other improvements to the property. For more details contact Linda Cinelli at 908-722-5661.
Linda Cinelli, CCIM specializes in self storage brokerage and is the Northern New Jersey and New York City representative of the Argus Self Storage Sales Network. Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self storage and income property investments. Now the largest self storage brokerage network in the United States, the ASSSN has 38 Broker Affiliates covering nearly 40 markets with a total transaction history of over $2 Billion. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55-STORE or visit Argus-SelfStorage.com.