Press Releases and News
Metro Storage LLC Purchases 4 Store Chicago Area Self Storage Portfolio
LAKE FOREST, IL September, 2011 –Metro Storage LLC recently acquired four properties totaling 415,000 square feet of self-storage space, for approximately $14.75 million. The portfolio contains 2,857 rental units and 57,000 square feet of industrial space. Metro acquired the note from the special servicer and subsequently closed on the assets in a separate deed–in-lieu transaction. The four stores were acquired from an existing 3rd party management client and previously operated under the trade name of Metro Self Storage®.
“We continue to grow our portfolio through innovative, complex transactions and this acquisition was in keeping with that theme. This high quality portfolio fits in perfectly with our investment objectives of acquiring stores with strong fundamentals, high barriers to entry markets with expansion opportunities,” said Metro’s Chairman, Matthew Nagel.
Three of the stores were warehouse conversions with one ground-up development. The stores average 85% occupancy; the average age of the portfolio is seven years.
Metro Storage LLC, operating under the trademark Metro Self Storage®, is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. Headquartered in Lake Forest, Illinois, the Company is the 5th largest privately held operator of self-storage facilities in the United States with over 100 stores in 13 states. An industry leader since 1973, Metro has been involved in hundreds of self-storage transactions. The Company is soliciting acquisitions nationwide of single facilities, multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com or by calling CEO, Blair Nagel (847) 235-8910.
Metro Storage LLC Purchases Moore Self Storage on Stanten Island for $4.6 Million
LAKE FOREST, IL July, 2011 –Metro Storage LLC recently acquired Moore Self Storage a Class A facility totaling 47,000 gross square feet for $4.6 million.
The acquisition of Moore Self Storage represents the third acquisition in the greater New York City region for Metro Storage LLC in the past twelve months; Metro now owns or operates five locations in the region. “Acquiring Moore Self Storage gives our company a Class A asset located in a very high barrier to entry market with strong demographics. Locations such as this one are difficult to replicate.” said Metro’s Chairman, Matthew Nagel.
This facility will be rebranded under the Metro Self Storage® trade name. The property consists of 352 units, and offers both multi-level climate controlled and traditional drive-up storage.
Metro Storage LLC, operating under the trademark Metro Self Storage®, is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. Headquartered in Lake Forest, Illinois, the Company is the 5th largest privately held operator of self-storage facilities in the United States with over 100 stores in 13 states. An industry leader since 1973, Metro has been involved in hundreds of self-storage transactions. The Company is soliciting acquisitions nationwide of single facilities, multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com or by calling K. Blair Nagel at (847) 235-8910.
Metro Self Storage Purchases Paramount Self Storage in Stanhope, NJ for $4.5 Million
LAKE FOREST, IL June, 2011 –Metro Storage LLC recently acquired Paramount Self Storage a Class A store built in 2004 totaling 70,666 gross square feet for $4.5 million.
The acquisition of Paramount Self Storage represents the second acquisition in the greater New York City region for Metro Storage LLC in the past twelve months; Metro now owns or operates four locations in the region. “We are very pleased with the addition of this asset to our growing New York and New Jersey presence.” said Metro’s CEO, Blair Nagel.
This facility will be rebranded under the Metro Self Storage® trade name. The property consists of 488 units, and offers both multi-level climate controlled and traditional drive-up storage. Metro Storage LLC, operating under the trademark Metro Self Storage®, is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. Headquartered in Lake Forest, Illinois, the Company is the 5th largest privately held operator of self-storage facilities in the United States with over 100 stores in 13 states. An industry leader since 1973, Metro has been involved in hundreds of self-storage transactions. The Company is soliciting acquisitions nationwide of single facilities, multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com or by calling CEO, Blair Nagel (847) 235-8910.
RK Kliebenstein Joins Metro Storage LLC Team
Lake Forest, Illinois, May 1, 2011 – Metro Storage LLC, one of the largest private owner-operators of self-storage properties in the U.S., announces today that RK Kliebenstein has joined the Company as Vice President of Business Development. K. Blair Nagel, CEO, commented “RK has been a consultant to Metro and we have known him for many years; he is an excellent fit for our Company. He will be spearheading efforts to grow our third party management services division. RK added “Metro Storage was a great client over the years; they are a company with the highest level of integrity, ethics, and expertise. I look forward to representing them in the marketplace, and know that many of my past clients can benefit from Metro’s management expertise. I am excited and honored to now be part of their organization.”Kliebenstein will seek new business opportunities for Metro, concentrating on adding clients and stores to the third party management program while offering expanded client services. “The addition of RK allows us to provide comprehensive advisory services to our clients to assist in the feasibility, construction, and management of self storage projects” said Nagel.
About RK Kliebenstein
RK was formerly the President of Coast-To-Coast Storage, the largest consulting firm dedicated to self storage, mobile storage and vehicle storage in the world. Since 2000, Coast-To-Coast provided feasibility studies, due diligence, brokerage services, financing, and consulting under the direction of RK. RK is the published author of three books and hundreds of self storage industry articles in trade magazines. He is a sought after speaker and expert witness, having lectured around the globe.
About Metro Self Storage
Metro Storage LLC, operating under the trademark Metro Self Storage®, is a fully integrated real estate operating company specializing in the development, acquisition, and management of self storage facilities. Headquartered in Lake Forest, Illinois, the Company is one of the largest private owner-operators of self-storage facilities in the United States. An industry leader since 1973, Metro has been involved in hundreds of self storage transactions. The Company is soliciting acquisitions nationwide of multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com, or by calling K. Blair Nagel at 847.235.8910. For information regarding Property Management or Client Advisory Services contact RK Kliebenstein at 847.235.8965.
Metro Storage LLC Aquires 15 Store $46 Million Portfolio in Texas/Kansas
LAKE FOREST, IL December, 2010 –Metro Storage LLC recently purchased a 15 store Class A portfolio of approximately one million square feet of self-storage space located in Texas and Kansas.
This $46 million transaction contained eleven stores in Texas increasing Metro’s presence in the Texas market to 19 stores and provided the company’s first entry into the Kansas market. Metro now has over 90 storage facilities in 13 states nationwide.
“We are honored to have been chosen as the buyer of this portfolio by the key selling principals whom we greatly respect. This fine portfolio averages only five years in age, all the units are individually alarmed; traditional regular drive-up spaces with state-of-the-art surveillance systems at each store, allowing for 24 hour access. Twelve of the fifteen stores were stabilized with a portfolio average occupancy of 90% fitting perfectly within Metro’s acquisition strategy,” said Metro’s Chairman, Matthew Nagel.
Metro Storage LLC, operating under the trademark Metro Self Storage®, is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. Headquartered in Lake Forest, Illinois, the Company is the 5th largest privately held operator of self-storage facilities in the United States with over 90 stores in 13 states. An industry leader since 1973, Metro has been involved in hundreds of self-storage transactions. The Company is soliciting acquisitions nationwide of single facilities, multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com or by calling K. Blair Nagel at (847) 235-8910.
Metro Storage LLC Owners Profiled in SSA Globe Magazine
LAKE FOREST, IL February 10, 2010 – Metro Storage LLC owners Matthew Nagel and K. Blair Nagel were recently profiled in the Self Storage Association Globe Magazine. The January 2010 issue includes a detailed profile of the Nagels as well as the history of Metro Storage LLC. The article notes, "And nowhere can the successful passing of the torch be better seen than with Blair and Matt Nagel, the owners of Metro Storage LLC based in Lake Forest, Illinois. They have not only taken what their father Karl passed along to them, but expanded it exponentially..."
Metro Self Storage® Acquires New Facility In Tampa, Florida
LAKE FOREST, IL February 5th, 2010 – Metro Storage LLC recently acquired Discount Mini Storage, a self storage facility in Tampa, FL. This location represents the company’s 12th self-storage facility in the greater Tampa area and its 22nd self-storage facility in Florida. The company now owns and operates more than 80 self storage facilities nationwide.
The facility is located at 8323 W. Hillsborough Ave. and offers 41,000 square feet of multi-level climate controlled and traditional drive-up storage. The site also provides a variety of customer-focused conveniences, including 24 hour electronic gate access, on-site management, online and automatic payment and a full line of boxes and moving supplies.
"This new facility compliments our current Tampa portfolio nicely," says Metro Storage LLC Chairman Matthew Nagel. "We’ve been in the Tampa market since 1999 and are committed to our long term growth strategy."
Metro Storage LLC, operating under the trademark Metro Self Storage®, is a fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities. Headquartered in Lake Forest, Illinois, the Company is one of the largest private owner operators of self-storage facilities in the United States. An industry leader since 1973, Metro has been involved in hundreds of self-storage transactions. The Company is soliciting acquisitions nationwide of multi-store portfolios, projects in development, or the management of existing operations.
More information about the firm is available at www.metrostorage.com or by calling K. Blair Nagel at (847) 235-8910.
