BB Capital LLC has purchased 103 Grove Street, a transit-oriented development site in Montclair, and intends to develop a self-storage facility at the site, CBRE announced.
BB Capital acquired the .73-acre parcel from Peptco for an undisclosed price.
Located near downtown Montclair, the parcel is just blocks from NJ Transit’s Walnut Street Station. The site is also within the favorable C-2 zone, which permits an array of commercial development opportunities.
The CBRE Investment Properties team of Charles Berger, Elli Klapper and Mark Silverman spearheaded the marketing campaign and negotiated the sale transaction on behalf of Peptco.