Global Self Storage, Inc. (NASDAQ: SELF), a real estate investment trust (REIT) that owns and operates self storage facilities, has completed the acquisition of a self storage facility located in Fishers, Indiana for approximately $7.7 million.
The 81,561 net leasable square foot self storage facility is comprised of climate controlled storage, traditional drive-up storage, and outdoor parking storage. The store, situated at the 96th Street and Olio Road intersection and one mile east of Geist Reservoir, features 418 storage units and a retail building currently leased to Geist Montessori Academy. The store was built in three phases during 2007, 2009, and 2014, and opened under company management on September 27, 2016.
"Our latest acquisition is a state-of-the-art facility located in the heart of the growing, affluent Fishers/Geist market in northeast Indianapolis," said president and chief executive officer of Global Self Storage, Mark C. Winmill. "With the opportunity to increase occupancy rates and potentially expand operations at this location, we are confident this is another great addition to our portfolio, which now consists of nine stores."
In late August, the company closed the acquisition of its eighth store located in Lima, Ohio.
About Global Self Storage
Global Self Storage, Inc. is a self-administered and self-managed REIT focused on the ownership, operation, acquisition, development and redevelopment of self storage facilities in the United States. The company's self storage facilities are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. It currently owns and operates, through its wholly owned subsidiaries, nine self storage properties located in New York, Pennsylvania, Illinois, Indiana, South Carolina and Ohio. For more information, go to http://ir.globalselfstorage.us or visit our self storage customer site at www.globalselfstorage.us.