Canadian Mini-Warehouse Properties Co., the general partner of Public Storage Canadian Properties, opened a new self-storage facility in Oakville, Ontario, Canada.
The facility consists of a three-story climate-controlled building and three single-story prefabricated buildings totaling approximately 86,000 net rentable square feet and 770 self-storage units.
The total cost to develop this facility (including the land purchase price) was approximately $15.7 million. The facility will be managed by Canadian Mini-Warehouse Properties Co., the manager of the partnership’s other properties.
Public Storage Canadian Properties is a publicly held limited partnership. The partnership owns 28 operating self-storage facilities across Canada, 16 of which are located in Ontario. In addition, the partnership owns parcels of land in Orleans, Ontario, and Richmond Hill, Ontario for development into new self-storage facilities.