A former movie theater in North Bergen was recently sold and will be transformed into a self-storage facility.
JLL Capital Markets announced the sale last month of the 73,398-square-foot property at 3131 Kennedy Boulevard. The firm represented seller Madison International Realty in the deal with buyer Safely Store.
The 1.07-acre site features a vacant two story building that previously operated as a theater.
Built in 1999, the 57-foot-tall structure will be converted into a four-story, 103,000-square-foot climate-controlled self-storage facility.
According to JLL, the building’s shell condition, large open spaces and high ceilings make it well-suited for this conversion.
“This represents a unique opportunity to convert a strategically located theater building into a best-in-class self-storage facility in an irreplaceable location with exceptional market fundamentals,” Jose Cruz, senior managing director at JLL said in a statement.
The JLL Investment Sales and Advisory team that facilitated the transaction was led by Senior Managing Director Jose Cruz, Managing Directors Nicholas Stefans and Jason Lundy, and Senior Analyst Luke Ceccoli.
