Madison International Realty has sold 3131 Kennedy Boulevard, a self-storage conversion opportunity in North Bergen, N.J.
JLL represented the seller in the sale of the 1.07-acre development site to the Safely Store platform.
The property features a vacant 73,398-square-foot, two-story building that previously operated as a movie theater. Built in 1999 with steel frame and concrete masonry unit construction, the 57-foot-tall structure will be converted into a four-story, 103,000-net-rentable-square-foot (-NRSF) climate-controlled, self-storage facility. The building sits in shell condition with large open spaces and high ceilings, well-suited for self-storage conversion.
Located within the C-2 Highway Commercial Zone with Residential Mixed-Use Overlay zoning, the property allows wholesale business, storage, distribution and warehousing as conditional uses. The site includes 346 parking spaces originally required for the theater operation.
The property is a
