Kokes Properties Completes Second Self Storage Project Managed By Extra Space

WHITING, NJ – Kokes Properties is pleased to announce the completion of Extra Space Storage at Whiting as the firm adds another high-quality self-storage asset to its growing commercial portfolio. Located at the intersection of Lake and Lacey Roads in Whiting and managed by national operator Extra Space Storage (NYSE: EXR), the 45,000 SF facility offers tenants a mix of conditioned and unconditioned storage space of varying sizes as well as exterior parking solutions for RV and boat storage.

“We gained a lot of knowledge and experience from our Winslow storage development a few years ago, and we were fortunate to apply some of what we had learned on that project toward executing a more efficient buildout of this one,” stated Michael J. Kokes, President of Kokes Properties.

Since 2020, Kokes team members worked diligently with the firm’s professionals to maximize the site’s visibility and meet the demands of an underserved market, where, until now, the nearest competing facility had been seven miles away. Elements such as vehicle flow, hallway design, and lighting & security were all premeditatively incorporated into the site plan and architectural designs.

Since opening on November 9th, the first wave of leasing activity has already surpassed Kokes’ expectations during what is historically a slow time of year for real estate. “We knew there was pent-up demand in the market, but no one could have guessed that we would be 23% occupied within the first two weeks of operation,” stated Clark McIntyre, VP of Operations at Kokes Properties. “Even if activity slows down as we approach the holidays, the breathtaking velocity that we’ve enjoyed so far puts us on track to achieve stabilized occupancy a full year ahead of schedule.”

“It is wonderful to work with the Extra Space team again and to witness their best-in-class operation at another one of our locations. Between the consummate professionalism of their people and the streamlined efficiency of their operation, words cannot express how much we value our partnership with them,” stated Michael J. Kokes. “We look forward to working with them on this deal and many more to come in the years ahead, and we would like to express our gratitude to all of our vendors who have played a critical role in transforming a paper concept three years ago into a tangible reality today.”

Kokes Properties designed and developed the project in-house with assistance from civil engineering firm FWH Associates and architectural firm SAA Architects. Construction financing was provided by OceanFirst Bank.