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StorageMart Builds on Expanding NYC Portfolio With $1B Acquisition
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Commercial Observer
StorageMart, parent company of Manhattan Mini Storage, has acquired 15 New York City self-storage facilities in a deal valued at roughly $1 billion, the company announced Wednesday.
StorageMart is calling the sale the second-largest self-storage deal in New York City’s history, after its own 2021 purchase of Manhattan Mini Storage in 2021 involving 18 facilities.
The storage company paid about $584 per square foot, according to Traded.
The firm’s acquisition of Manhattan Mini Storage may have included more individual properties, but it was also a larger deal in terms of price.
StorageMart paid Edison Properties $3 billion for Manhattan Mini Storage, Commercial Observer reported at the time.