This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Informa

Citizen Storage Launches in Michigan With 2-Property Self-Storage Acquisition

Comments
Print

Citizen Storage Management and Affiliates, a Michigan-based self-storage operator led by president and CEO Peter Spickenagel, has launched behind the acquisition of two storage properties in Fenton, Mich. The facilities comprise 86,000 square feet, with an additional 100 vehicle-parking spaces. The unidentified properties will be rebranded as Citizen Storage Fenton North and Citizen Storage Fenton South, according to a press release.

Citizen intends to renovate both assets through a “robust expenditure program,” and will invest in staff training and new technology, the release stated.

“I am very pleased to announce the acquisition of these two investor-grade properties,” Spickenagel said. “These properties fit perfectly into our value-add acquisition model and long-term growth initiatives. I believe in the strength of the Fenton market and witnessed the results first-hand in my previous endeavors.”

The industry veteran most recently directed self-storage conversion and new-construction projects for Farmer Development Inc. He also served as vice president of operations for Storage Pros Management LLC, where he oversaw 80 storage properties across the nation comprising more than 4 million square feet, according to the release. Spickenagel also serves as director of business development for CallPotential, a provider of lead-management and do-it-yourself call-center solutions for self-storage operations.

Based in Royal Oak, Mich., Citizen intends to pursue additional self-storage acquisitions as well as offer consulting and third-party management services.

Comments
comments powered by Disqus