Shurgard Partners With Indigo Car-Park Operator to Build 4 Facilities in Lyon and Paris, FranceShurgard Partners With Indigo Car-Park Operator to Build 4 Facilities in Lyon and Paris, France

Shurgard Self Storage Ltd., the European affiliate of U.S.-based real estate investment trust (REIT) Public Storage Inc., is partnering with Indigo, a car-park operator, to build four self-storage facilities in Lyon and Paris, France. Shurgard will lease the land from Indigo, according to a press release.

Slated to open next year, the projects are:

Shurgard currently has 67 self-storage facilities in France, totaling more than 3.5 million rentable square feet. Of these, 47 are in Greater Paris.

“Shurgard is thrilled to embark on this exciting journey to expand its presence in the heart of Paris and bring its innovative and leading storage solutions to even more Parisians,” said Shurgard CEO Marc Oursin. “This partnership with Indigo supports Shurgard's ambitious growth plans and provides access to superbly located and well-connected sites.”

“In response to the scarcity of storage space in cities, and particularly in Paris, Indigo car parks offer an innovative solution by making valuable square meters available,” said Sébastien Fraisse, president of the executive board for Indigo. “This partnership with Shurgard illustrates our ability to transform existing infrastructures to better meet the needs of businesses and individuals, thereby contributing to a functional and more welcoming city for all those who live, work or visit there.”

Related:Self-Storage Development and Zoning Activity: October 2024

Shurgard operates 334 self-storage facilities comprising 1.7 million net rentable square meters in Belgium, Denmark, France, Germany, Netherlands, Sweden and the United Kingdom.

Based in Glendale, California, Public Storage has interests in 3,044 self-storage facilities in 40 states, with approximately 218 million net rentable square feet. It holds a 35 percent interest in Shurgard.

Founded in 1964, Indigo operates 5,570 car-park structures in 750 cities worldwide. It provides car parks and on-street parking for airports and railway stations, hospitals, shopping centers, offices, universities, and more.

Source: Market Screener, Shurgard Self Storage Obtains Four Building Permits, Developing Car Park Space Into Storage Facilities in Partnership With INDIGO