Author: alison

Shurgard Self Storage Completes Acquisition of CitySpace Self Storage in Central London

Shurgard completes acquisition of CitySpace Self Storage in Central London LUXEMBOURG – Shurgard, the largest developer, owner and operator of self storage centers in Europe – is pleased to confirm the acquisition of CitySpace Self Storage’s two properties in Central London on October 1, 2021. Both properties are former basement car parks converted to self storage. Bloomsburystore is located just off Russell Square (less than 100 meters) in London and at walking distance from the British Museum. Knightsbridgestore is located close to Belgravia Square Garden and Hyde Park Corner –…

Latest Base Stacks up for Self Service Storage Firm

Self storage firm UK Storage Company Ltd is to open its biggest nationwide base in purpose-built premises in Sheffield. The firm, which has been offering self storage for businesses and residential customers since 2005, currently has 27 stores across the country and will open its first South Yorkshire operation totalling approximately 15,000 sq ft in early 2022. The 24-hour facility at Tinsley Industrial Estate, in the Lower Don Valley area of the city, has been built to an agreed specification with a glass fronted and canopied entrance and will feature…

Self Storage Group ASA: Acquisition of Property in Gardermoen, Norway

Self Storage Group ASA (Self Storage Group, OSE:SSG) has entered into an agreement to acquire a new-build property in Gardermovegen in Nannestad, Norway. The transaction has a property value of NOK 11.5 million, with an estimated lettable area of 1050 square meters. The facility is projected to open during Q3 2022. The property in Gardermovegen will be operated under the OK Minilager brand. “The property is located in Øvre Romerike, a region north of Oslo with strong growth. The location has easy access from main roads, close to Jessheim. This acquisition is in line with…

Heitman Expands Space Station Self Storage Platform

Heitman, a global real estate investment management firm, has acquired bof Squab Daventry, a self-storage asset located in the Midlands. The investment marks the second acquisition expanding Space Station, a UK self storage platform that a Heitman affiliate acquired in late 2020 and adds further density into a key target region of the country. As we continue to observe tangible economic recovery, we see significant opportunities within the self storage sector and more broadly alternative real estate, given their secular demand drivers and attractive risk profile.” The asset continues the…

European Self Storage Operator Shurgard Hits 250-Store Milestone

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., has reached its 250th location with the opening a facility in Argenteuil, a commune in the northwest suburbs of Paris. The eight-story building comprises 75,347 square feet in more than 1,100 units, according to a press release. We are thrilled to have opened our 250th property in Europe, especially in the Paris region, which is key to our expansion plan.” Shurgard has been ramping up its European expansion through acquisitions and development since…

StorageMart Acquires Two New Facilities in the UK

With the recent acquisition of two former CityStore properties in Aylesbury in Buckinghamshire and Dunstable in Bedfordshire, StorageMart extends its influence in the competitive UK market. These locations fit very nicely into our existing portfolio of assets and our Greater London strategy. We have had a banner year for performance of our existing UK portfolio, and expansion of our UK footprint makes a lot of sense for us at this time as a result.” The new UK locations are two of many in a series of acquisitions, joining recent US closings in Indiana, Iowa, and Maryland. With more acquisitions either planned…

UK Self Storage Operator Storage King Supports Mental-Health Charity YoungMinds

Storage King, which operates 29 self storage properties in the United Kingdom, is giving financial support to YoungMinds, a U.K. organization that provides mental-health awareness and services to children and teens. A portion of all new Storage King unit rentals will be allocated to assist the charity in its endeavors, according to a press release. As a business, we knew that we had to focus on driving awareness of mental well-being and support organizations [that] are on the front line each and every day, helping those in need during what…

Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project

Locally based developer Tulfra Real Estate has acquired land in Jersey City for the construction of a 2,422-unit self storage project. The facility will be located at 300 Thomas McGovern Drive and will have a gross square footage of approximately 261,000 square feet, including an adjoining parking structure will also be constructed as part of the project. Thomas Walsh of Walker & Dunlop brokered the land deal. A groundbreaking date will be announced in the coming days. According to Tulfra, there are approximately 159,000 housing units and 22,500 new apartments…

Stor-Age Shouldn’t Be Ignored

Since listing in late 2015, self storage property specialist Stor-Age has hardly put a foot wrong. Without stretching its balance sheet, it has built sturdy growth legs in SA and the UK. Like financial services specialist Transaction Capital (which listed three years earlier), it came to market with a fresh and innovative offering. But while transaction capital has been riding high, the market has still not properly grasped the longer-term growth and value proposition at Stor-Age. The share, in fact, trades roughly at NAV. Some punters may see this as…

How Safe Are Your Access Control Solutions? Part One

Safety and security are hallmarks of today’s self storage industry. In competitive markets, solutions that protect tenants’ physical safety and the security of their possessions are differentiating factors — they separate market leaders from the rest of the pack. Increasingly, the quality of your operation’s safety and security solutions directly impacts tenant acquisition and retention. Yet it may be tempting for owners and operators to inadequately evaluate their choice in security solutions — a mistake that can have serious consequences for the bottom line of your business. If a single…