Manhattan Mini Storage Portfolio Trades for $3B

New Jersey-based Edison Properties has sold its 18-location Manhattan Mini Storage portfolio for $3 billion, equating to about $968 per square foot or $53,571 per unit. Missouri-based StorageMart is the buyer of the 56,000-unit, 3.1 million square foot package, having made the deal a little more than 3 months after Edison introduced the sale offering.