Wantage Plaza & CubeSmart (Managed) - Wantage, NJ

Strategic Regional Location: Prime visibility along NJ-23, the dominant north–south commercial artery for Sussex County, offering direct access to I-287, I-80 and I-84. The property sits within convenient reach of major population centers including New York City (~60 miles), Scranton (~55 miles), Allentown (~65 miles), and Newark International Airport (~50 miles).
Diversified Essential Retail Mix: Eleven fully occupied suites & an AT&T cell tower totaling ±116,450 SF, anchored by CubeSmart, and surrounded by necessity-driven tenants such as Temple Fitness, Yamato Hibachi Steakhouse, Frank’s Pizza, Sussex Meat Packing, Bagel Tree, V.I.P. Nails, and others that support consistent daily traffic and durable income.
In-Place Cash Flow: 100% physical occupancy across retail and 67.4% across self storage, generating $718,414 of in-place NOI, with multiple levers for further growth. Stabilized year 4 in-place NOI $1,287,681.
Self Storage Scale with Lease-Up Upside: ±60,922 NRSF of climate-controlled storage managed by CubeSmart, plus 108 fully secured exterior RV/boat parking spaces. Current occupancy as of 12/31/2025 is 67.4% units and 70.5% SF providing immediate revenue upside as units lease toward market street rates.
Multi-Phase Storage Development Pipeline: Phase I – Online as of Oct. 20, 2023. Phase III – Online as of Sept. 17, 2025. Phase II – Online as of Oct. 20, 2025. Additional land across the ±13-acre property supports future expansion for new self-storage.
Retail Rent Upside | Long-Term Tenants: ±34,292 SF retail center is fully leased at an average rent of $11.85/SF, well below prevailing market rates for Northern New Jersey retail, providing meaningful mark-to-market opportunity as leases roll. Successful retail tenancy with an average historical occupancy of over 19 years at the center.
NOI Growth Through Value-Add Initiatives: Lease-up of storage phases, resetting retail rents to market, and executing on available development acreage positions the asset for an attractive near-term NOI CAGR.
Expansive ±13-Acre Footprint: Large, versatile site with flexibility for additional storage phases, pad development, improved circulation, or long-term redevelopment options in a supply-constrained region of Northern New Jersey.

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Patrick Forde