N14 Self Storage in Johannesburg, South Africa, is the first of five new facilities being built throughout the country this year by SA Self Storage Investments (SASSI), eProp.co.za reported. Opened in June, the project is part of an estimated ZAR 125 million ($16.6 million) being spent on development over the next 12 to 18 months. The total value of the new store roll-out will be closer to ZAR 160 million ($21.3 million). Nearly 30,000 square meters of space—roughly 2,850 storage units—will be built.
The South African self-storage industry ranks fifth in the world in terms of the number of operating facilities, according to SASSI. Based in Cape Town, the company promotes the development of and investment in institutional-quality self-storage assets throughout South Africa. For more information, visit www.saselfstorageinvestments.com.