Metro Storage LLC Acquires Metro Mini & RV Self Storage Portfolio in the Minneapolis Market

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Metro Storage LLC today announced the acquisition of the four-store Metro Mini & RV Storage portfolio in the Minneapolis market. The acquisition adds 208,000 rentable square feet, 1,500 storage units, and 450 RV/Parking spaces units to Metro Storage’s existing Minnesota portfolio, and will bring the total number of Metro Self Storage stores in the Minneapolis market to six.

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Metro Storage LLC today announced the expansion of its presence in the Minneapolis market with the acquisition of the four store Metro Mini & RV Storage portfolio. The new facilities are located in the Minneapolis suburbs of Bloomington, Eden Prairie, Mound and Orono, and add 208,000 rentable square feet, 1,500 storage units, and 450 RV/Parking spaces units to Metro Storage’s existing Minnesota portfolio.

In the first quarter of 2015, Metro is also scheduled to open a newly converted storage facility in the Minneapolis suburb of Blaine. This will bring the total number of Metro Self Storage stores in the Minneapolis market to six.

“We’ve been in the Minneapolis market with our Maple Grove store for a few years now and welcome this opportunity to expand our presence.” said Metro Storage LLC Chairman Matthew Nagel. “The addition of the Metro Mini stores as well as the Blaine facility fit in well with our current business model and future growth plans.”

The facilities are well-positioned on or near major retail corridors in strong demographic areas. The high-quality facilities feature interior loading bays, climate controlled units, exterior drive-up units, state-of-the-art security systems, computer-coded gate access and RV/boat storage spaces. All four locations will feature Penske truck rentals.

The store located at 6200 W. Old Shakopee Road, Bloomington, Minnesota consists of six single-story storage buildings containing 391 self storage units and 182 outdoor RV/Boat parking spaces. Features include convenient exterior drive-up storage units, RV/boat parking, energy efficient 40-watt solar panels, perimeter fencing, automatic gates and doors, and video camera system.

The property at 6851 Flying Cloud Drive, Eden Prairie, Minnesota consists of three one and a partial two story storage buildings containing 397 self storage units and 50 post office boxes. Features include interior climate controlled units, convenient exterior drive-up storage units, post office boxes, wide asphalt driveways, perimeter fencing, automatic gates and doors, and video camera system.

The facility at 5300 Shoreline Drive, Mound, Minnesota is part of a light industrial complex that was the former home to Tonka Toys. The property consists of a single-story 52,870 rentable square foot climate controlled facility and a site to the north of the storage building containing 85 RV/boat parking spaces. Features include interior climate controlled units, covered loading docks, RV/boat parking space, and state of the art security.

The building at 2725 W. Wayzata Boulevard, Orono, Minnesota was converted to self storage use in 2012 has 313 storage units and 67 interior heated and 114 exterior RV/boat parking spaces. Additional features include interior climate controlled units, indoor loading docks, interior RV/boat parking space, exterior RV/boat parking space with plug-in electrical access, and industry standard security.

“These stores round out our ability to better serve the storage needs of the surrounding community.” said Blair Nagel, CEO of Metro Storage LLC. “With climate controlled units, extensive boat and RV parking, and truck rentals we’re positioned for continued success in the Minneapolis area.”

About Metro Storage LLC

Metro Storage LLC is a privately owned, fully integrated, international self-storage operating company specializing in the development, construction, acquisition, and management of self-storage facilities in the USA and Brazil. Metro operates under the trademark Metro Self Storage in the US, being one of the top 10 largest owner/operators of self-storage facilities in the United States with over 80 stores covering 11 states. Metro operates in Brazil under the trade name MetroFit which is one of the fastest growing self-storage companies in Brazil. More information about the firm is available at metrostoragecorporate.com.

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Martin Gallagher
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