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Century-Old Elizabeth Armory Will Carry Extra Space Storage Brand
The Hampshire Companies has acquired a circa-1912 former armory in downtown Elizabeth, NJ, which it plans to redevelop into a three-level self-storage facility to be managed by Extra Space Storage. Construction is slated to begin later this year.
“Upon an initial viewing of the building, many might not see self-storage conversion as a natural fit,” said Michael Legacki, senior acquisitions manager at Hampshire. However, he added, the Hampshire team recognized that the space presented “an ideal opportunity to bring a modern self-storage asset to an underserved market.”
Hampshire’s plan calls for preserving the building’s historic façade and exterior. In the interior, Hampshire will create a 100,000-square-foot self-storage facility.
The company has repositioned or developed 33 self-storage facilities since 2012 alone, and sees the Elizabeth market as ideal for such a facility. The city has a population of over 128,000, and currently lacks institutional quality facilities, according to Hampshire.
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