Hampshire Self Storage sells 10-property portfolio to Extra Space Storage

The Hampshire Cos. has sold 10 of its self storage facilities to Extra Space Storage Inc. totaling 7,433 units and 740,822 s/f. Hampshire will retain ownership of a second portfolio, which totals 5,993 units and 603,606 s/f 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.