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Winick Realty Group.

Winick Realty Group executive vice president, Cory Zelnik, announced today that Winick Realty Group has recently completed two transactions for the purchase of Shurgard Storage Centers in Mountainside, New Jersey, and Ozone Park, New York. The transactions illustrate a trend of retail storage space outside of the city to provide space for urban residential areas lacking adequate storage space within individual units and private homes.

According to Dan Spector, who completed the two transactions for Winick, "Shurgard Storage Centers are unique in that they are looking for locations adjacent to regional retail areas as opposed to industrial sites. With their upscale design, Shurgard, considered the 'Cadillac' of the storage industry, creates an inviting and comfortable atmosphere for clients, more than 50 percent of which are women."

Shurgard Storage Centers are scheduled to open in Mountainside, New Jersey in February 2000, and the 3.5-acre site will be proximate to an existing Starbucks Coffee on heavily trafficked Route 22, and also leased by Winick.

Winick also completed a transaction for the sale of Shurgard Storage Centers in Ozone Park, New York at 94-02 104th Street in Queens. This 96,000 square-foot site is within one of the region's most densely populated residential areas and is highly visible from the well traveled Atlantic Avenue.

Area retail includes existing Pathmark, Blockbuster and Genovese stores and according Peter Koestenblatt of Winick, "Apartments are constructed so tightly in the city that there is no room for storage. The outer boroughs and New Jersey are being cultivated as an open market for the expansion of the storage industry."
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 15, 2000
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