Diversified Properties is continuing its decade-long expansion into the ground-up self-storage development business by entering into an agreement with Coast-To-Coast Storage, one of the largest self-storage consultancy brands.
Through the partnership, Coast-To-Coast Storage President RK Kliebenstein will work with Diversified Properties to identify favorable self-storage development sites throughout the New York metropolitan area.
Diversified Properties’ current self-storage experience to date includes a 98,000-square-foot, 755-unit, state-of-the-art, fully climate-controlled CubeSmart Self Storage facility Montville, the construction of a fully climate-controlled 85,000-square-foot facility in Hackensack, and the acquisition and sale of two existing self-storage facilities in Burlington County.
The firm, based in Montville, is in active pursuit of additional self-storage development opportunities throughout the Northeast with a development pipeline currently valued in excess of $50 million.
Nicholas Minoia, founder and managing partner of Diversified Properties, said Coast-To-Coast is a good fit.
“RK’s impressive, three-decade self-storage track record and deep understanding of the asset class on local, regional and global levels enables our firm to have an amazing edge as we continue to expand our self-storage business across the Northeast,” he said.
“With several self-storage projects under our belt and several more in the pipeline, we are confident that this partnership will only enhance and accelerate our ability to deliver state-of-the-art self-storage facilities to underserved markets.”
Boasting more than 28 years of commercial real estate experience and over 20 years of expertise in the self-storage sector, Kliebenstein operates one of the leading global self-storage consultancy brands, Coast-To-Coast Storage.
Founded by Kliebenstein in 2000, Coast-To-Coast Storage employs a team of high-performing commercial real estate professionals that provide due diligence consulting, feasibility studies, site selection, brokerage, loan workouts, financing, consulting, marketing, and technology repositioning of older, first-generation facilities. Kliebenstein has underwritten over three billion dollars in self-storage transactions throughout his career.
“It is a privilege to work with a company as solid as Diversified,” Kliebenstein said. “They have a great team of people, are well capitalized and excited about the asset class. Rarely does one find so much talent and ability in one firm. I am excited to find best-in-class sites for them.”