Store Space Announces 10 Acquisitions to close out Q4, 2021
WINTER GARDEN, Fla., Feb. 1, 2022 /PRNewswire/ -- Store Space Self Storage closed 2021 strong, acquiring 10 new properties across seven states. Highlighting the transactions were three properties in Florida, two in Wisconsin, and its first in North Carolina.
"The Midwest, the south and southeast are some of the hottest markets in the country," said Rob Consalvo, Store Space COO and President. "These stores represent a great opportunity for us to grow our reach in markets where we've already established a presence and bring our best-in-class technology and experience to new markets."
Taking into account redevelopment plans at two of the facilities, the 10 locations add approximately 5,800 units and almost 700,000 net rentable square feet. In total, Store Space has more than 40,000 operational units and more than 5.3 million sq. ft. across all locations.
Notable among the facilities include:
- Germantown, WI (N112W18518 Mequon Rd, Germantown, WI 53022)
Serving the northwest part of the Milwaukee metro, the property features 635 climate-controlled storage units and more than 94,000 net rentable square feet. - Menomonee Falls, WI (N92W15800 Megal Dr, Menomonee Falls, WI 53051)
Serving the most populous village in the state of Wisconsin, the property features 679 climate-controlled storage units and more than 92,000 net rentable square feet. - Brandon, FL (2711 Broadway Center Blvd., Brandon, FL 33510)
The sixth facility in the greater Tampa-St. Petersburg area, this facility offers 645 climate-controlled units and parking space, totaling 67,550 sq. ft. - Jacksonville, FL (10777 103rd St, Jacksonville, FL 32210)
The third property in the Jacksonville market, planned expansion at the existing facility will increase the location to approximately 800 units and 120,000 sq. ft. - Elon, NC (937 E. Haggard Ave., Elon, NC 27244)
The first Store Space location in North Carolina, planned expansion at the existing facility will increase the location to approximately 650 storage units and 53,000 net rentable square feet.
Store Space also took over management on additional facilities located in Gainesville, FL, Albany, GA, Columbus, OH, Buffalo, NY, and Hartford, CT. Since the start of 2021, Store Space has increased its footprint by 41 locations.
In 2021, Store Space topped Inside Self Storage's Square Footage Milestones list, citing a 180% increase in total square footage year-over-year. The company is expected to remain aggressive in 2022, both in terms of management agreements, acquisitions and new development.
"We have an aggressive growth strategy, with plans to more than double our footprint by the end of 2022," Consalvo said. "Our strategy includes acquisitions, development, and third-party management services, all of which allow us to scale our business rapidly."
About Store Space
Store Space is a self-storage operator and third-party management company. Located in Winter Garden, FL, the Company currently owns, has under purchase agreement, and operates more than 80 properties in 20 states. The Company fuels growth and value with its experience-driven operations, state-of-the-art proprietary platforms, and strategic digital marketing programs. If you have an acquisition opportunity or would like to discuss third-party management, contact us at [email protected], or visit us at www.storespace.com.
SOURCE Store Space