Public Storage
Paramus, NJ
Executive Summary
CBRE’s Self Storage Advisory Group is retained as the exclusive listing advisor for Public Storage, which consists of 1,278 units distributed across 124,559 net rentable square feet of ground level drive-up and interior climate-controlled storage space. This trophy asset is situated in a fast growing area that has great demographics, with a dense infill population of 585,165 people, 9,737 future residential units in the development pipeline, and a strong household income average of $142,091 within a 5-mile radius. Since its first full month of operations in August of 2024, the property has averaged over 4,900 net square feet of occupancy and is currently 74.3% occupied.
Paramus, New Jersey is a highly attractive suburban investment market anchored by one of the strongest retail and healthcare economies in the Northeast, benefiting from its strategic location within Bergen County just minutes from New York City. The city is nationally recognized as a premier retail destination, serving as home to Garden State Plaza and Bergen Town Center, two of the highest‑grossing shopping centers in the country, supporting a large employment base and drawing consistent regional traffic. Healthcare is a growing economic driver following the opening of The Valley Hospital’s new Paramus campus, a transformational investment exceeding $1 billion that supports several thousand permanent healthcare jobs and reinforces long‑term employment stability. Paramus is also home to Bergen Community College’s main campus, which enrolls approximately 14,000 students, providing a steady institutional presence and skilled workforce pipeline. The city is strategically positioned near the Port of New York and New Jersey, the largest port on the East Coast, enhancing logistics accessibility for the broader region. Looking ahead, Paramus continues to see mixed‑use redevelopment along Routes 4 and 17, including retail modernization, medical office expansion, and residential components that are expected to generate hundreds of new jobs and millions in capital investment, positioning the city for sustained growth driven by high-income demographics, infrastructure access, and continued commercial reinvestment.
*Public Storage is the Third Party Manager
Investment Highlights
Team
Brokerage Team
CBRE Self Storage Advisory Group provides personalized and tailored services, backed by the nation’s foremost experience and technology, driving successful real estate outcomes for individual and institution investors alike. As the industry leader in self-storage advisory, we bring unmatched buyer exposure and market knowledge to each transaction, delivering maximum value to clients.
With more than $11.4 billion in consideration and over 66.3 million square feet sold since 2009, this self storage team led by Nick Walker offers customized investment sales, acquisition and recapitalization services, together with industry-leading market intelligence, to provide unmatched exposure to buyers across the country. By leveraging the strength of CBRE’s Self Storage Advisory Group, in conjunction with market research, a seamless execution process and long-standing relationships, the team can anticipate trends and command capital globally, validating CBRE’s Self Storage Advisory Group as the safest and best choice for results in the global investment property capital market.
