
Jefferson Valley, NY JLL Capital Markets arranged the sale and facilitated the financing for Jefferson Valley Self Storage, a 405-unit self-storage facility.
JLL’s Self-Storage Capital Markets team marketed the property on behalf of the seller, Columbia Pacific Advisors. Horizon Storage Group purchased the asset with acquisition financing provided by Andover Lending, a joint venture between Andover Properties and TPG Angelo Gordon.
Completed in 2022, Jefferson Valley Self Storage is a Class A facility offering 55,311 rentable s/f. The property is a conversion of a former big-box retail store and underwent a full rehab, including a new roof and comprehensive building system upgrades. At the time of sale, the facility was 87% leased.
The property is located on a 3.6-acre site at 621 Bank Rd. in Westchester County, a suburban county north of New York City. Positioned northeast of U.S. Hwy. 6 and Taconic State Pkwy., Jefferson Valley Self Storage is accessible and is the only self-storage facility within a three-mile radius. The property benefits from being surrounded by an affluent population of more than 81,000 residents earning an average household income of $189,722 within five miles of the facility.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,