Metro Storage LLC recently announced the purchase of a parcel of land in Naperville, Illinois to build a new self storage facility, the company's 24th in the Chicago area. Located at 1752 N. Aurora Road in the Chicago suburb of Naperville, the new state of the art facility will be a two-story, 92,000 GSF state-of-the-art, self storage facility offering approximately 75,000 RSF of storage
"We're excited to develop another new store with our partners at Fremont Realty Capital," said Matthew Nagel, Chairman of Metro Storage LLC. "This is another great addition to our Chicago area portfolio."
"Our Acquisitions and Development teams once again did great job of selecting an outstanding site and designing a state-of-the-art facility," said Blair Nagel, CEO of Metro Storage LLC. "We look forward to breaking ground and getting construction underway."
The new store will be located on a major thoroughfare, in a strong demographic market close to residential areas and major retailers. Features of the store include a mix of climate (59%) and non-climate (41%) controlled storage, drive up access, a primary covered and enclosed loading/unloading bay with additional access points around the building, state of the art security, and a large, modern retail office area.
"Fremont is very pleased with this latest addition to the Fremont-Metro partnership," said Matthew Reidy, Partner of Fremont Realty Capital in San Francisco. "The success of our venture is built on the great management team at Metro; a best-in-class developer, operator and leader in self storage."
The 597-unit facility is scheduled to open in the summer of 2017.
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 100 stores covering 12 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 http://www.metrostoragecorporate.com.
About Fremont Realty Capital
Fremont Realty Capital ("FRC") is the real estate private equity business unit of the Fremont Group, the investment office of the Bechtel family of San Francisco. Since formation in 1997, FRC has provided its investors with superior risk-adjusted returns and value-creation through investments in non-traditional and traditional real estate sectors, both domestically and abroad. FRC has been has been investing in U.S. and European self-storage businesses since 1998. Its success is based on a disciplined investment strategy, enduring long term relationships with best-in-class operating partners, and the collective experience of the firm's principals. FRC has made investments in 365 properties in 11 countries, totaling over $5 billion.