Los Angeles-based Self Storage Management Co. (SSM) is working with investment-management and real estate firm Jones Lang LaSalle Inc. (JLL) on the potential sale of its 12-property MiniStorage portfolio in Southern California. The facilities could fetch more than $400 million, according to a report from Bloomberg.
SSM has operated in the region for more than 30 years. It ranked No. 47 on the Inside Self-Storage 2020 Top-Operators List of facility owners with a portfolio comprising more than 2.6 million rentable square feet. It didn’t report figures for inclusion on the 2021 Top-Operators Lists.
Officials from JLL and SSM haven’t commented publicly about the possible sale.
Source: Bloomberg, MiniStorage Considers a Sale as Self-Storage Industry Consolidates