Press Releases
Marcus & Millichap Arranges Sale of a Class A Self-Storage Development Site in Ridgefield, New Jersey
March 16, 2026
RIDGEFIELD, N.J., March 16, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a self-storage development site in Ridgefield, New Jersey.
Located at 1099 Hendricks Causeway, the fully entitled and permitted site will be developed into a Class A self-storage facility. The project is expected to include more than 73,000 net rentable square feet and more than 1,200 climate-controlled units.
“This was a great process with multiple competitive offers,” said Nathan Coe, senior managing director investments and lead agent. “It demonstrates the strong demand for storage in Bergen County and the continued strength of the self-storage sector.”
The seller was StorageBlue, a longtime self-storage operator in North Jersey. The buyer was Safely Store, a self-storage dedicated investment platform focused on acquisitions and developments nationally. Nathan Coe, Gabriel Coe and Brett Hatcher, in association with Jim McGuckin, Marcus & Millichap’s New Jersey broker of record, marketed the property on behalf of the seller and procured the buyer.
“This acquisition reflects our continued focus on expanding in high-barrier-to-entry markets,” said David Ellison, chief development officer with Safely Store. “The development’s submarket features a dense population and strong fundamentals, which make it an ideal location for our next self-storage development. Securing a fully entitled development site allows us to accelerate our timeline and bring a modern self-storage facility to the community much sooner. Nathan Coe and his team were instrumental in facilitating this transaction, and we look forward to working with them on future opportunities.”
Launched in 2023, Safely Store is a self-storage dedicated investment platform formed by principals of Iron Point Partners and Taylor/Theus Holdings and backed by La Caisse (Caisse de dépôt et placement du Québec) and another global institutional investor. The platform is investing an initial $400 million of equity in self-storage opportunities across Tier I and Tier II U.S. markets, targeting a mix of ground-up developments, conversions, lease-up projects and undermanaged operational assets.
Located at 1099 Hendricks Causeway, the fully entitled and permitted site will be developed into a Class A self-storage facility. The project is expected to include more than 73,000 net rentable square feet and more than 1,200 climate-controlled units.
“This was a great process with multiple competitive offers,” said Nathan Coe, senior managing director investments and lead agent. “It demonstrates the strong demand for storage in Bergen County and the continued strength of the self-storage sector.”
The seller was StorageBlue, a longtime self-storage operator in North Jersey. The buyer was Safely Store, a self-storage dedicated investment platform focused on acquisitions and developments nationally. Nathan Coe, Gabriel Coe and Brett Hatcher, in association with Jim McGuckin, Marcus & Millichap’s New Jersey broker of record, marketed the property on behalf of the seller and procured the buyer.
“This acquisition reflects our continued focus on expanding in high-barrier-to-entry markets,” said David Ellison, chief development officer with Safely Store. “The development’s submarket features a dense population and strong fundamentals, which make it an ideal location for our next self-storage development. Securing a fully entitled development site allows us to accelerate our timeline and bring a modern self-storage facility to the community much sooner. Nathan Coe and his team were instrumental in facilitating this transaction, and we look forward to working with them on future opportunities.”
Launched in 2023, Safely Store is a self-storage dedicated investment platform formed by principals of Iron Point Partners and Taylor/Theus Holdings and backed by La Caisse (Caisse de dépôt et placement du Québec) and another global institutional investor. The platform is investing an initial $400 million of equity in self-storage opportunities across Tier I and Tier II U.S. markets, targeting a mix of ground-up developments, conversions, lease-up projects and undermanaged operational assets.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
