Utah-based self storage giant Extra Space Storage Inc. is expanding its presence in Hawaii with its acquisition of a Honolulu property near the airport for $29 million, Pacific Business News has learned.
The company, which is one of the largest owners and operators of self storage properties in the United States, recently purchased Diamond Head Self Storage’s property at 633 Ahua St., according to public records.
Extra Space Storage, which purchased two self storage facilities on Oahu for $30 million in 2013, one on Kalakaua Avenue in Honolulu and another on California Avenue in Wahiawa, has 12 facilities in Hawaii.
It also recently formed a new business in Hawaii called Extra Space Storage of Honolulu Keahole Street LLC, which could mean that another location is in the works for the Extra Space Storage in Hawaii Kai in East Oahu.
Extra Space Storage owns and/or operates at least 1,350 self storage properties in 35 states, Washington, D.C., and Puerto Rico.
PBN reached out to Extra Space Storage for comment.
Headquartered in Salt Lake City, Extra Space is a real estate investment trust that owns or operates 1,371 self-storage properties in 37 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 910,000 units and 103 million square feet of rentable space.