The Hampshire Companies Acquire Former Armory Building in Elizabeth, N.J.
ELIZABETH, NJ — The Hampshire Companies, a full service, private real estate investment firm, continues to expand its robust self-storage portfolio announcing the acquisition of the former armory building at 1189 Magnolia Ave. in Elizabeth. In one of the most unique adaptive reuse self-storage projects in the nation, The Hampshire Companies will redevelop the over 100-year-old former armory building into a state-of-the-art, institutional-quality, three-story self-storage facility. Construction is slated to begin later this year. Originally constructed in 1912, the armory building sits directly in the heart of downtown Elizabeth. With a population of over 128,000 people and a lack of local institutional-quality self-storage facilities, Elizabeth presents the ideal demographics that Hampshire looks for in each self-storage project. In addition to favorable demographics, the property offers accessibility to the New Jersey Turnpike, Routes 1 and 9 and the Port of Elizabeth.