Calgary, Alberta, Canada, Sept. 27, 2023 (GLOBE NEWSWIRE) -- All financial figures are in Canadian dollars.
Mini Mall Storage Properties (Mini Mall), one of North America’s fastest-growing self-storage owners and operators, continues to build its presence in the eastern United States with its largest acquisition to date — 19 properties from Rhino Storage Group. The new locations, across several municipalities in Ohio and West Virginia, will expand on Mini Mall’s established presence in the region and bring the company’s best-in-class self-storage operations to a growing market.
The acquisitions are in markets with promising growth outlooks, including several with new manufacturing facilities and industrial projects, which could generate thousands of new jobs for the surrounding communities and attract new residents to the area.
This strategic acquisition brings Mini Mall’s portfolio to over 200 locations and 7.6 million square feet of self-storage space across the North American heartland.
“All of these properties are very well-maintained and have robust security, which make them attractive additions to our portfolio,” says Anders Berg, Vice President, Investments at Mini Mall Storage Properties. “There are many operational synergies with our existing assets at a regional level, making it a seamless transition. We’re excited to leverage our proprietary hub-and-spoke model and experienced management teams to integrate almost a million square feet of space into our portfolio.” Mini Mall’s unique model leverages the geographic proximity between facilities to increase operational efficiency, maximize shared resources, reduce costs, and enhance profitability.
“During the first half of 2023, we focused on our operational cadence and ensured that we maximized efficiency across our portfolio,” says Adam Villard, CEO of Mini Mall Storage Properties. “Now, we’re building on those operational strengths and applying the hub-and-spoke infrastructure that we have built to these new assets entering the portfolio. This will allow us to bring exceptional service standards to our new customers and local communities.”
Mini Mall has a pipeline of $130 million in assets and plans to execute on additional strategic acquisitions. The fund was formed in February 2020 and has since grown to manage over $1.3 billion in self-storage assets across Canada and the United States.
About Mini Mall Storage Properties
Mini Mall Storage Properties is a leading self-storage owner/operator with over 7.6 million square feet of space across 200+ locations in Canada and the United States. The company is focused on acquiring established assets and applying institutional-grade operational strategies to elevate service standards and enhance efficiency. With a proprietary hub-and-spoke operating model, Mini Mall is unique in the industry and can enter new regions efficiently while consolidating a largely fragmented market.
--
This commentary and the information contained herein are for educational and informational purposes only and do not constitute an offer to sell, or a solicitation of an offer to buy any securities or related financial instruments. This article may contain forward-looking statements. Readers should refer to information contained on the Avenue Living website at www.avenuelivingam.com for additional information regarding forward-looking statements and certain risks associated with them.
Attachment
