Store Space Acquires Three Self-Storage Properties
With the purchase of three storage facilities, Store Space enters Philadelphia's self-storage market.
ORLANDO, Fla., Sept. 24, 2018 /PRNewswire/ -- Store Space announces its continual nationwide expansion with the acquisition of three self-storage properties in Philadelphia, Pennsylvania. The properties were purchased from Storage King USA. Since Store Space's launch this year, it has experienced rapid growth and has already expanded to four states. The owners plan to continue growing the company while acquiring more self-storage properties throughout the U.S.
"The acquisition of these three properties gives us a foothold in the Philadelphia market," said Rob Consalvo, COO and President of Store Space. "Through strategic capital expenditures and additional acquisitions, we'll position ourselves as a leader in the market."
With the recent purchase of the three Philadelphia properties, Store Space has an additional 235,000 square feet of rental space available. The newly acquired self-storage properties in Philadelphia are located at 335 E Price Street, 3100 C Street, and 5134 Lancaster Ave. These properties will benefit from Store Space's innovative platforms and physical improvements to the facility.
"The prior owner did a fantastic job rehabilitating these properties after purchasing them as an REO several years ago," said Chris Harris, CEO of Store Space. "We will continue that rehabilitation to convert these properties to solid Class A facilities and support the broader gentrification already starting in the surrounding neighborhoods."
Store Space is a self-storage operator and third-party management company. Located in Orlando, FL, the Company currently owns, has under purchase agreement and operates 13 properties in 4 states. The Company fuels growth and value with their 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 https://www.storespace.com.
SOURCE Store Space