Safely Store has acquired a fully entitled self-storage development site in Ridgefield, NJ, in a transaction arranged by Marcus & Millichap. The property, located at 1099 Hendricks Causeway in Bergen County, is approved to be developed as a Class A self-storage facility with more than 1,200 climate-controlled units. The sale involves a shovel-ready site, with entitlements and permits already in place for the planned project.
The development opportunity drew strong interest from the investment community. According to Nathan Coe, senior managing director investments with Marcus & Millichap and the lead agent on the assignment, the marketing process generated multiple competitive offers. Coe noted that this level of investor engagement underscores both the depth of demand for storage space in Bergen County and the continued resilience of the self-storage asset class.
The seller, StorageBlue, is described as a longtime self-storage operator in North Jersey. By selling the entitled Ridgefield site, StorageBlue is capitalizing on its position in the local market and handing off the development opportunity to a dedicated investment platform. Marcus & Millichap marketed the property on behalf of StorageBlue and also secured the buyer.
The buyer, Safely Store, is a self-storage focused investment platform that pursues both acquisitions and ground-up developments on a national basis. The Ridgefield purchase aligns with its strategy of targeting institutional-quality self-storage opportunities across multiple markets. Safely Store intends to move forward with the development of the Class A, climate-controlled facility as entitled.
Safely Store was launched in 2023 by principals of Iron Point Partners and Taylor/Theus Holdings. The platform is backed by La Caisse and another global institutional investor, providing it with significant capital support for expanding its self-storage portfolio. The combination of institutional sponsorship and a specialized operating focus positions Safely Store as an active buyer and developer within the sector.
For this transaction, Marcus & Millichap professionals Nathan Coe, Gabriel Coe and Brett Hatcher led the assignment, working in association with Jim McGuckin, Marcus & Millichap’s New Jersey broker of record. The team was responsible for marketing the Bergen County development site and procuring Safely Store as the buyer for the fully entitled self-storage project.
