Metro Storage LLC, which operates more than 90 Metro Self Storage facilities in 11 states, and its wholly owned subsidiary, Metro Storage International LLC (MSI), have opened a new facility in São Paulo, Brazil, the first in the MSI portfolio. Branded as MetroFit, the property is the first of seven the company intends to open in São Paulo by the end of the year.
The newly constructed, three-story facility is in the Vila Leopoldina district, directly on the Marginal Highway, with more than 700,000 cars passing per day, according to a Metro press release. Designed to meet the needs of growing São Paulo consumerism, the 75,000-square-foot, 500-unit building features the bold MetroFit brand and offers features including an indoor drive-thru, state-of-the-art video surveillance and wine storage.
Were excited about this first step in our international expansion, said Blair Nagel, CEO of Metro Storage. Brazil provides some exceptional opportunities for growth in self-storage.
The facility is the first of two being developed under a private fund MetroFit raised last year to attract and deploy capital across the Brazilian self-storage sector. Construction began in June.
It was a complex and coordinated effort to bring everything together, said Jay Harron, president of MSI. The MetroFit team in Brazil worked closely with their U.S. counterparts at Metro Storage to make it happen.
The MetroFit team had a very busy fourth quarter to get the store operational, according to a company press release. We wanted to deliver an exceptional store in an exceptional location with outstanding architecture and functionality, said Hans Scholl, president of MetroFit. I am happy to say that our team delivered on all of these items.
The next MetroFit store is under construction and scheduled to open this summer. MSI, which is dedicated to self-storage development in emerging markets outside the United States, is actively pursuing a pipeline of additional projects.
Metro Storage LLC is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. Headquartered in Lake Forest, Ill., the company ranked No. 11 on the 2013 Inside Self-Storage Top-Operators List.