THE HISTORY OF METRO STORAGE
Karl F. Nagel, Founder learns of the mini-warehouse concept while on a business trip in Texas: Finding it an interesting niche in the real estate sector, he pioneers the concept in Illinois.
Company builds several facilities throughout Chicagoland.
Name Changed to Metro Self Storage
Matt Nagel joins the company to oversee site selection and facility development.
- Acquires first existing facility in DesPlaines, Illinois
- 8 Locations 600,000 square feet of space
Blair Nagel joins the company to oversee Construction and Property Management.
Enters Indiana, Ohio, Michigan, and Wisconsin with the acquisition of eleven stores.
The Nagel brothers buy-out Karl Nagel.
- Form Metro Storage LLC with a 100% focus on self-storage.
- From 1987-97 the company experienced steady growth the number of stores increased to 42 operating in five states: Illinois, Wisconsin, Indiana, Michigan and Ohio 2.3M square feet of storage.
- Company introduces iconic logo and green and gold colors
Enters Florida purchase and development of five stores
Company become the 15th Largest Operator in the country
- 56 locations and 3.2million square feet
- Enters Georgia with purchase of three locations in the Atlanta area.
The company sells 42 locations for $184,000,000 to a publicly Traded REIT the transaction became the Industries largest private sale to date.
Metro Storage LLC moves into new 14,000 square foot corporate headquarters located in Lake Forest, IL.
Is awarded a 3rd Party Management contract to operate a 40 store multi-state portfolio
- Entered new states: NY, NJ, PA, LA, CT, HI, CA, UT
Over 90 locations, 5,600,000 sf of storage.
Acquires a 9 store multi-state portfolio in a distressed asset auction.
Over 100 locations, 6,500,000 sf of storage.
- Metro is the 5th largest privately held company in the self-storage industry
Metro Storage LLC forms Metro Storage International “MSI” to focus on emerging markets. MSI launches its first international brand MetroFit operating in Sao Paulo, Brazil.
Metro Self Storage and The Nagel Family celebrate 40 years serving the industry and providing best in class products and services to its customers – having served an estimate 3,000,000 customers over the past 40 years.
Metro embarks on a 20-store development program to build large Gen-5 Big Box Stores with a private partner.
Metro recapitalizes/acquires 42 stores in four states.
MSI enters Central America with purchase of an ownership interest in Mr. Bodeguitas the oldest and largest self-storage company in Central America.
MSI sells MetroFit and exists Brazil.
Mr. B's Self Storage opens its 13th and largest facility to date, located in downtown Guatemala City overlooking international Airport. The company celebrates the opening of its new Corporate Offices located on the 5th floor of the facility.