Farmington Hills, MI, May 15, 2008 --(
PR.com)-- Storage Opportunity Partners LLC (“StorageOp”) of Farmington Hills, Michigan is pleased to announce the May 7th acquisition of Store-It Self Storage in Westland, Michigan. The acquisition brings StorageOp’s holdings to eight properties totaling 457,000 rentable square feet, 3,970 units and 959 outdoor storage spaces in its initial target markets of southeastern Michigan and New England.
The former Store-It in Westland is located on Van Born Road, just east of the intersection with Middlebelt Road, and just north of I-94 and Detroit Metro Airport. The property has 29,650 rentable square feet in 3 single-story drive-up buildings, plus 18 outdoor vehicle storage spaces.
The acquisition is consistent with StorageOp’s core objective of acquiring well-located underperforming properties requiring physical upgrades. The property will undergo updating and capital improvements to the paving, signage and video security system. In addition, operating efficiencies will be achieved by running the property in conjunction with StorageOp’s nearby Storage Pros Romulus facility, located just one-half mile east of the Westland property along Van Born Road.
The property will be rebranded Storage Pros Self Storage, and will be operated by Storage Pros Management LLC, a wholly owned subsidiary of StorageOp, owned by principals David Levenfeld and Ian Burnstein.
For more information, please contact David Levenfeld at 617-658-1200 or visit www.storageop.com and www.thestorageprosonline.com.
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