Investment Real Estate inks $5.25 million sale in New Jersey

SUSSEX COUNTY, NJ — Locally owned and operated Investment Real Estate, LLC announced the sale of Space Relief Center for $5.25 million to a private investment group. Space Relief Center is located on Rte. 206 between the towns of Newton and Branchville in Sussex County. Space Relief Center consists of 11 single story metal buildings with over 500 storage units. The facility is located on over 17 acres of Qualified Farm zoned land with excellent visibility from Rte. 206, a major north-south arterial serving greater Newton. The entire property has been well cared for and has an on-site rental office. Site improvements include standing seam metal roofs, asphalt driveways, exterior lighting with a keypad operated gate and keypad operated entrance and exit doors. Space Relief Center was 85% occupied at the time of sale. John Gilliland, president and CEO for Investment Real Estate, states, “This sale was finally consummated after numerous years of cooperative work between the seller and the broker to maximize the value of the property. The seller realized that prices are at all-time highs and he took the initiative to liquidate the asset. Congratulations on a market well timed.”

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