{"id":1004402921,"date":"2020-03-26T03:20:09","date_gmt":"2020-03-26T11:20:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004402921"},"modified":"2025-02-28T00:08:00","modified_gmt":"2025-02-28T08:08:00","slug":"public-storage-purchases-new-york-boston-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/public-storage-purchases-new-york-boston-portfolio\/","title":{"rendered":"Public Storage Purchases New York, Boston Portfolio"},"content":{"rendered":"<div id=\"attachment_1004402933\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004402933\" data-attachment-id=\"1004402933\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/public-storage-purchases-new-york-boston-portfolio\/5002-second-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg\" data-orig-size=\"1000,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5002 Second Ave\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;5002 Second Ave&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg?w=1000\" class=\"wp-image-1004402933 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg?resize=300,240 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/5002-Second-Ave.jpg?resize=768,614 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004402933\" class=\"wp-caption-text\">5002 Second Ave.<\/p><\/div>\n<p>Public Storage has acquired a three-property self storage portfolio totaling 3,596 units in New York and Boston. JLL Capital Markets assisted the seller, Banner Real Estate Group.<\/p>\n<p>The transaction included:<\/p>\n<ul>\n<li>a 139,300-square-foot building located on a 1-acre parcel at 5002 Second Ave. in Brooklyn, near Interstate 278.&nbsp;Public records show the property, which came online in 2018, changed hands for $48.8 million.<\/li>\n<li>a three-story&nbsp;New York structure completed last year and situated on 1 acre&nbsp;at 479 Fifth Ave. in New Rochelle, close to Interstate 95.<\/li>\n<li>a facility located at 490 Eastern Ave. in Malden, Mass., some 6 miles from downtown Boston. The buyer paid $26 million to acquire the 125,388-square-foot property.<\/li>\n<\/ul>\n<p>The JLL brokerage team that facilitated the transaction included Managing Directors Steve Mellon and Brian Somoza, as well as Senior Managing Directors Andrew Scandalios and Coleman Benedict. Last year, Mellon and Somoza negotiated <a href=\"https:\/\/www.commercialsearch.com\/news\/national-storage-affiliates-buys-9-property-portfolio\/\">the sale of a nine-property portfolio<\/a> totaling 4,835 units in several Texas markets, on behalf of Locktite Storage.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banner Real Estate Group sold three properties which comprise nearly 3,600 units.<\/p>\n","protected":false},"author":867,"featured_media":1004402933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21743,21783,1600,21742,10],"tags":[34568,38954,47777,32796,34017,38400],"class_list":["post-1004402921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-boston","category-deals","category-investment","category-new-york","category-latest","category-northeast","tag-andrew-scandalios","tag-brian-somoza","tag-coleman-benedict","tag-jll","tag-public-storage","tag-steve-mellon"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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