Marcus & Millichap announced March 16 the sale of a self-storage development site in Ridgefield. Financial details were not disclosed.
Located at 1099 Hendricks Causeway, the fully entitled and permitted site will be developed into a Class A self-storage facility. The project is expected to include more than 73,000 net rentable square feet and more than 1,200 climate-controlled units.
“This was a great process with multiple competitive offers and a final sale well above the asking price,” said Nathan Coe, senior managing director investments and lead agent. “It demonstrates the strong demand for storage in Bergen County and the continued strength of the self-storage sector.”…