The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, which operates under the Hampshire Self Storage name, has announced that it has sold 10 of its self storage facilities to Extra Space Storage Inc. (NYSE: EXR) totaling more than 7,433 units and 740,822 square feet. Hampshire will retain ownership of a second portfolio, which totals 5,993 units and 603,606 square feet of rental space, which includes four facilities in Puerto Rico as well as sites in Denville, N.J., Hackensack, N.J., Burlington, N.J., Cherry Hill, N.J. and Richmond, Va. Extra Space Storage has assumed management for these properties that are now operating under the Extra Space Storage brand.
The portfolio of sold assets consisted of properties in Poughkeepsie, N.Y., Central Valley, N.Y., Mahwah, N.J., Hackettstown, N.J., Parsippany, N.J., Montville, N.J., Fairfield, N.J., Newark, N.J., North Brunswick, N.J. and Berkley Heights, N.J. All of the locations offer state-of-the-art storage solutions with top-of-the-line security systems and offer both humidity and temperature-controlled units to preserve belongings in a clean and fully secured environment.
“At Hampshire, we believe experience is one of our greatest assets, which is what continues to make our self-storage business so successful,” said James E. Hanson, II, President and CEO of The Hampshire Companies. “We translated more than two decades of self-storage experience into a viable and highly successful portfolio of state-of-the-art facilities that raised the bar on customer satisfaction and affordability. The timing for this deal was right, and we felt confident entering into it, given Extra Space’s strong reputation and service standards.”
Hampshire has more than 20 years of self storage experience, formerly operating as a Storage USA franchisee in the late 1990’s, then as developer, and now as an owner and operator.
Spencer Kirk, Chief Executive Officer of Extra Space Storage (NYSE: EXR), stated, “We are excited to increase our footprint in the New Jersey and New York markets. We have forged a strong partnership with The Hampshire Companies that is proving beneficial for both parties, now and into the future.”
HFF marketed the properties exclusively on behalf of the seller, The Hampshire Companies. The HFF team representing Hampshire was led by senior managing director Aaron Swerdlin and senior managing director Jon Mikula.
To learn more about Hampshire Self Storage and to find a location near you, please visit www.hampshireselfstorage.com or call (866) 516-6143.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
About Extra Space Storage Inc.
Extra Space Storage Inc., headquartered in Salt Lake City, is a fully integrated, self-administered and self-managed real estate investment trust. As of June 30, 2012, the Company owned and/or operated 882 self-storage properties in 34 states and Washington, D.C. The Company’s properties comprise approximately 585,000 units and approximately 64 million square feet of rentable storage space offering customers conveniently located and secure storage solutions, including business storage. Extra Space Storage is the second-largest owner and/or operator of self-storage properties and is the largest self-storage management company in the United States. For more information, visit www.extraspace.com.
R&J Public Relations