Safeguard Self Storage Expands NY Portfolio With Brooklyn Land Acquisition

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Safeguard Self Storage is continuing its expansion in the New York market with the purchase of land parcel on April 24 in the densely populated Bedford-Stuyvesant area of Brooklyn. The company intends to build its 68th self-storage facility on the site.

Slated to open in 2015, the facility will be about a mile north of the company’s Crown Heights facility. It will encompass 42,625 square feet of storage space with 704 storage units in a variety of sizes. Amenities will include video cameras, individual unit alarms, a drive-up loading area, keypad access and other features.

“The Bedford-Stuyvesant store, like all our New York facilities, will be designed to provide an exceptional customer experience,” said Jim Goonan, senior vice president of development. “This new facility will complement our product offering in New York and demonstrates our commitment to, and confidence in, this terrific market.”

Safeguard has 23 stores in New York, one under construction in West Farms in the Bronx, and another on Albany Avenue in Brooklyn. The company is also developing two facilities in Chicago, where it currently operates 10 stores.

"New York is a great market for Safeguard Self Storage, and the company continues to search for every possible opportunity to develop there,” said CEO Allan Sweet.

Headquartered in Atlanta, Safeguard Self Storage was founded in 1989 and currently operates more than 60 facilities in Florida, Illinois, Louisiana, New Jersey, New York and Pennsylvania. The company is owned and operated by Morgan Stanley’s Prime Property Fund.

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