Harrison Road has expanded its self-storage portfolio with the acquisition of 10 Class-A self-storage houses comprised of 9,031 units across five U.S. states.
The 872,340 square foot portfolio will be managed by Harrison Street’s current self-storage associates, Reliant Serious Estate Management LLC (Reliant”), Trojan Storage (Trojan), and LifeStorage.
Located in Washington, Oregon, California, Colorado, and New York, the recently designed homes are less than 4 years aged and attribute weather-controlled models, travel up units, and drive as a result of interior access models.
Michael Gordon, Main Financial commitment Officer of Harrison Road, mentioned, “Self-storage is at the core of Harrison Street’s demographically pushed financial commitment tactic, as demand from customers for storage does not always correlate with the financial environment and is usually pushed by life changes. We are pleased to further more our deep relationships with major self-storage operators Reliant, Trojan, and LifeStorage to help a portfolio of fashionable self-storage facilities positioned in densely populated submarkets with strong demand from customers drivers, including steadily expanding and hugely affluent populations.”
Given that its inception in 2005, Harrison Avenue has invested about $2.9 billion in gross prices throughout approximately 280 storage belongings, comprising far more than 181,000 models in 25 U.S. states and two Canadian provinces.
The agency has realized investments on much more than 170 self-storage houses for a gross transaction worth of $1.3 billion.