Construction has started on a large three story 112,000 square foot storage facility on the White Horse Pike in Magnolia.
Earlier in the summer the property was fully cleared and already contractors have poured the large square concrete foundation pad.
The project is being developed across several lots situated between Produce Junction and the Regency Court Apartments. The now cleared lots for the storage facility were home previously to Warwick Auto Sales, a building which previously housed Sterling HVAC, and an undeveloped lot.
As another point of reference, the Colombo liquor store is located directly across the street from where this new storage facility is being developed.
The upcoming Storage Facility building seems to fit nicely in the space, particularly since storage facilities really don’t require a lot of dedicated parking. The rear property line is wedged out on one side which made for a perfect place to put a water management retention basin in.
Unfortunately I wasn’t able to acquire in advance the full plans or rendering for the building, but as mentioned it’s three stories tall.
42Freeway first wrote about this project in December of 2023 but it appears to have been in the approval process for several years with Magnolia, as it is also part of a non-condemnation redevelopment plan with the borough several years before the developer submitted an application for the storage facility.
The project is being developed by Nuvo Development Partners who seem to specialize in storage facilities. That being said, as I write this on Monday September 23rd it appears their entire website is not functioning at the moment. I was hoping to see if there were renderings of the completed storage facility at their website.
While Nuvo is developing the project, they typically sign-on with a large self storage company for branding… I am not aware of the brand at this time.
I did locate a press release from TalonVest Capital related to the project. They are a boutique self-storage and commercial real estate advisory firm, who back in may announced the successful negotiation of $16.8 million for the development of this Magnolia storage facility.
As called out in my December article, Magnolia designated this property a redevelopment zone back in 2019. Redevelopment zones are created by towns to entice growth and investment in properties which are in in need of a real rehabilitation… via special zoning rules or even favorable tax benefits.
Prior to the clearing and the start of development, the prior properties were actually in somwhat rough shape… clearly a good candidate for a redevelopment zone effort.
Another storage facility is being developed in Somerdale NJ (unrelated owners) but I did not stop by today for an update on that location. Last I drove by about six weeks ago I believe the building was mostly standing already.
Nuvo Development is also proposing a storage facility on Route 73 in Mount Laurel directly next to the Walmart parking lot… In an area close to the route 295 exit.
Links and Locations
Magnolia Storage Facility – Under Development
509, 511, 519 and 521 North White Horse Pike
Magnolia New Jersey
.