SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage market across the United States, recently purchased 13 stabilized properties in Myrtle Beach, SC and Amarillo, TX from multiple sellers. Combined, these properties are comprised of approximately 330,000 net rentable square feet and 2,500 units with over 88% occupancy. The…
Glendale, CA-based Public Storage, the world’s largest owner of self-storage facilities, has struck a deal that will make it a little bit bigger. Public Storage announced that the company entered an agreement to buy 48 self-storage locations from Columbia, MD-based ezStorage for a total of $1.8 billion. Public Storage plans to fund the purchase with…
This page is an archive of self-storage acquisition news from April 2021. For the latest news, click here. Angelo Gordon, in a joint venture with Andover Properties, purchased Santa Clarita Storage, a 105,743-square-foot self-storage facility at 24314 The Old Road in Santa Clarita, CA. The property was purchased for $28 million, according to the Commercial…
With revenue growth five times that as the previous year, startup Neighbor has raised $53 million it will use to compete head to head with traditional self-storage industry stalwarts. The Lehi, UT-based company offers a peer to peer platform for renting self-storage. Users can rent out extra space in their homes or offices using the…
This page is an archive of self-storage acquisition news from March 2021. To have your transactions included in the Sold! column, submit details about your acquisitions here. Berkshire Hathaway Storage Group reports the following: Buyer: Institutional private equity Seller: Not provided Facility name: Laredo Storage Portfolio (Stor More Storage Rentals) Location: Laredo, TX Net square footage:…
This post is an archive of self-storage development news from March 2021. Development news from 3/31/21: A nearly four-year battle over allowing a 630-unit self-storage facility to be built in Warwick, RI continues. The Planning Board voted 5-2 against giving preliminary approval of the project to developer PRW Holding Co.; the latter planned an appeal…
Portable storage provider PODS has announced the appointment of Kathryn Marinello as president and CEO of the Clearwater, FL-based company. Marinello succeeds John B. Koch who held the role for eight years. Marinello comes to PODS with over 20 years of executive leadership experience, including roles as CEO of Hertz, Ceridian, and numerous divisions of…
Storable, the parent company of SpareFoot, has acquired US Storage Search and its platforms, including Storage.com. Storable issued the following statement announcing the closing of the deal: Storable empowers storage owners through industry-leading technology in many ways, including generating rental reservations through our consumer marketplace, SpareFoot. Our ability to drive high quality reservations has just…
This page is an archive of self-storage acquisition news from February 2021. To have your transactions included in the Sold! column, submit details about your acquisitions here. Acquisition news from 2/24/2021: The Loeffler Self-Storage Group reports the following: Buyer: Not provided Seller: Downtown Tucson Storage LLC Facility name: Wildcast Storage Location: W. Saint Mary’s Road…
A family-owned self-storage operator on the East Coast is looking for a buyer for its 48-property portfolio. If successful, the deal could fetch north of $2 billion—making it among the largest portfolio transactions in self-storage history. According to a source affiliated with a potential purchaser, Columbia, MD-based ezStorage is shopping its portfolio to a limited…
