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News release

HOUSTON,

JLL Negotiates Sale of NJ Self Storage Facility


HOUSTON, July 28, 2015 – JLL’s National Self Storage Team is proud to announce the sale of NJ Self Storage, a 35,025-square-foot self storage facility located at 2341 Route 70 in Manchester, New Jersey.  Phoenix-based U-Haul purchased the property. The property was sold through Auction.com by LNR, the special servicer, on behalf of the owner GECCMC 2002-2 Route 70, LLC.

Managing Directors Steve Mellon and Brian Somoza led the JLL team on the transaction.

“The property was previously underperforming leaving tremendous upside potential for the new owner,” said Mellon.

The facility is comprised of six single-story buildings consisting of 96 climate controlled units, 225 non-climate controlled units and six uncovered RV/surface units. The facility features secured gates with electronic access control, surveillance cameras, drive-up units, surface parking and a customer service office that sells moving supplies.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.