October 2, 2019
A joint venture of the Hampshire Companies and Harrison Street began construction on a self-storage development in Hillsborough, NJ. It’s the second ground-up development project under Hampshire’s and Harrison Street’s JV.
The site was selected due to the surrounding area’s high median household income, growing population density and a lack of modern self-storage options, along with its location along a heavily-trafficked retail corridor. Extra Space Storage will manage the 120,524-square-foot facility upon completion, expected for February 2020.
“By partnering with Harrison Street, we have ensured that Hampshire will continue to be well-positioned to aggressively pursue self-storage development in an increasingly competitive marketplace,” said James E. Hanson II, president and CEO of Hampshire. “We look forward to building upon the initial success of this relationship, as we apply our time-tested self-storage development formula to bring institutional-quality assets to life throughout the I-95 corridor over the next several months.”
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