Metro Storage LLC, which operates more than 80 self-storage facilities in 11 states, has purchased three Storage King properties in the Philadelphia metropolitan area. The assets comprise 259,650 rentable square feet in 1,944 units and will be rebranded as Metro Self Storage.
The acquisition follows the purchase last month of a 78,878-square-foot facility in Limerick, Pa. The company now has seven storage facilities in the Philadelphia market. Metro Storage also recently acquired a three-property portfolio in the Atlanta area.
“These are three exceptional stores,” said Blair Nagel, CEO. “The addition of these properties will enable us to further leverage the Metro brand in the Philadelphia area.”
The properties are:
- 3952 N. Providence Road, Newtown Square, Pa. – The three-building facility comprises 84,825 rentable square feet in 606 units.
- 1354 Hook Road, Sharon Hill, Pa. – The property comprises 96,525 rentable square feet in 680 units.
- 4440 E. Bristol Road, Trevose, Pa. – The facility comprises 78,300 rentable square feet in 658 units.
Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide.