StorHub, which operates more than 40 self-storage facilities across seven Asian nations, recently expanded its holdings in Hong Kong by acquiring the seventh and eighth floors of the Precious Industrial Centre (PIC) building in the Kowloon area. The company now owns 10 of the structure’s 13 floors, comprising 94,507 square feet.
This is the third time StorHub has purchased square footage in the building this year, according to the source, and its fifth 2022 transaction in Hong Kong overall. The company has five operating locations in in the region, according to its website.
Built in 1977 at 18 Cheung Yue St., the PIC is in a dense residential area and includes a planned development that’ll add 1,830 living units.
Launched in 2003, StorHub operates self-storage facilities in China, Hong Kong, Japan, Korea, Malaysia, Singapore and Thailand. Its portfolio comprises more than 4 million square feet of gross floor area, with more than 51,000 storage units, according to the company website.
Source: Mingtiandi, Warburg Pincus’ Storhub Buys Two More Floors in Kowloon Self-Storage Building