Metro Storage LLC, which operates more than 125 self-storage locations in 14 states, has formed a joint venture with Guatemala-based self-storage operator Mr. Bodeguitas International (MBI) through its subsidiary Metro Storage International (MSI). The partnership will enable the expansion of the Mr. Bodeguitas brand in Central America, according to a Metro Storage press release.
“Mr. Bodeguitas was founded by leading Guatemalan business people who have successfully built the best self-storage platform in the region,” said Matthew M. Nagel, chairman of Metro Storage and MSI. “We are thrilled to have found partners with whom we share our passion and belief for our business.”
“Metro Storage, through MSI, is one of the best models for global self storage,” said Ernesto Zachrisson, chairman of MBI. “We look forward to having Mr. Bodeguitas leverage Metro Storage’s expertise built over 40-plus years of operating throughout major markets in the United States.”
The companies celebrated the joint venture on Oct. 3 in Guatemala City, Guatemala, during the grand-opening ceremony for a new Mr. Bodeguitas facility in the Mariscal, Zone 11, area. The property is the 10th overall for MSI and the company’s sixth in Guatemala City. It also operates facilities in San Jose, Costa Rica, and San Salvador, El Salvador.
MSI also has a joint venture in São Paulo, Brazil, with real estate development and management firm TRX Group under MetroFit SA. The MetroFit self-storage brand was launched in 2012.
MBI is also known as MBI Management Corp. It specializes in the development and management of self-storage facilities in Central America.
Headquartered in Lake Forest, Ill., Metro Storage operates the Metro Self Storage brand. The privately owned, fully integrated real estate company specializes in the acquisition, development and management of self-storage facilities nationwide. Its facilities comprise more than 8.6 million square feet of storage space.