Self-Storage Operator Control Space Invests €10M to Expand in Portugal

Control Space, a Portuguese self-storage operator, is investing more than €10 million to develop three new facilities in the country. The expansion will add 161,458 square feet of storage to the company’s portfolio by 2025, according to a press release.

The properties will be built in Lisbon, Porto and Vila Nova de Gaia. Once they’re complete, Control Space will operate 290,625 square feet of storage space. Like its other facilities, the new sites will be fully automated. They’ll also contain eco-friendly features such as motion-activated LED lighting, solar panels and electric-vehicle charging stations.

“Our expansion reflects Control Space’s commitment to offering innovative and sustainable solutions that truly make a difference in our clients’ lives. We are preparing for a future where space will become an increasingly valuable asset, and we want to be the natural choice for those seeking flexibility and security,” said company cofounder Albano Costa Lobo.

Control Space is owned by Colares Capital, which recently formed a joint venture with investment-advisory firm Incus Capital to expand the operator’s presence in Portugal through acquisitions and conversion-development projects.

Founded in 2021 by Costa Lobo and Vasco Fino, with Francisco Parreira do Amaral later joining as a partner, Colares operates four self-storage facilities in Lisbon and Oporto, Portugal.