An online self-storage aggregator owned by a management software company has been purchased by a group of independent storage operators.
Irvine, CA-based StoreLocal bought StorageFront from Kansas City, MO-based Red Nova Labs. StoreLocal is owned by its members, including independent operators such as StorageMart, US Storage Centers and Storage Direct. The organization’s members operate more than 500 facilities.
Red Nova Labs CEO Dirk Wakeham said his company sold StorageFront to focus solely on its management software.
Terms of the deal were not disclosed.
“StorageFront is a fantastic opportunity for us to provide the industry an affordable alternative to performance-based lead aggregation sites,” said Lance Watkins, CEO of StoreLocal.
Until the acquisition, StoreLocal hadn’t offered an online directory and reservation system for consumers. StoreLocal said it will make a “significant investment” to boost lead volume and improve StorageFront.com. StoreLocal also picked up SelfStorageHounds.com as part of the deal.
Basic facility listings are free on StorageFront, while premium listings are offered for a flat monthly fee of $69.95. Operators already on the StorageFront network will be able to continue to use the site under existing agreements.
An operator joins the StoreLocal co-op by paying a one-time $2,500 deposit per facility. A co-op member also pays a monthly fee of $59.95 per facility.