29 Dec 2020
Vertically integrated self storage developer, operator, and manager InSite Property Group acquires two self storage facilities in Portland, Oregon.
The acquisition includes one certificate of occupancy (“C/O”) facility located at 16017 SE Division St, in addition to the acquisition of the recently opened Extra Space on 3737 NE Columbia Blvd. The acquisition is the first closing of a portfolio of properties InSite is purchasing from the same seller.
SecureSpace Self Storage, InSite’s wholly-owned management firm, will serve as operator for both storage facilities, adding to its rapidly-growing roster of well-located self storage locations.
The first facility - SecureSpace Centennial, located at 16017 SE Division St, Portland, Oregon - offers over 110,000 square feet of climate-controlled storage space across 3 stories. Strategically located to offer excellent exposure from Division St and 162nd Ave, the SecureSpace facility will serve Southeast Portland residents and businesses near Rockwood, Powellhurst-Gilbert, and Gresham.
The second facility - 3737 NE Columbia Blvd, Portland, Oregon - offers 100% climate-controlled storage and will be rebranded from Extra Space to SecureSpace North East Portland. This 3-story property currently offers over 140,000 square feet of self storage space and is well located less than 2 miles from the Portland International Airport (PDX).
SecureSpace’s signature modern design and outfitting will make its way to Portland with both locations featuring leasing offices equipped with the latest amenities. Free WiFi will accompany the welcoming workspaces with packing supplies available for purchase.
Residents of Portland will also soon be able to utilize SecureSpace’s one-of-a-kind Contact Free move-in option by visiting SecureSpace.com where they can calculate their storage size needs, see pictures & virtually tour the facility, make a reservation, or even rent a unit online without stepping foot inside.
InSite Partner Keith Wetzel, notes, “Expanding into Portland was a key priority for us. Portland is a hub for innovation with strong job growth and we are excited to purchase our first two properties in that market through this portfolio acquisition. To coincide with the purchase, we put in place a $200 million debt facility with Goldman Sachs Bank to finance not only this deal but future self storage acquisitions. The new facility is a testament to the strength of our technology-enabled vertically integrated platform to develop, acquire, and operate the highest quality self storage properties in the country.”
With a large share of highly-educated millennials and one of the most environmentally friendly cities in the world, Portland is home to over 650,000 people and is ranked among the top 5 best cities for businesses. Both SecureSpace facilities in Portland are open for business and customers can reserve their own secure space by visiting https://SecureSpace.com or calling (877) 399-0319.
Eariler this December, InSite also acquired a 9.9-acre self storage development site in San Diego, CA.
Strategically positioned at the intersection of the I-15 and Ted Williams (CA-56) freeway, the site sits between several of the highest income residential neighborhoods in San Diego County. The development will include a 109,725 NRSF SecureSpace self storage facility and drive-up access to all units. In addition to 115 Boat & RV parking spots, a convenient RV wash and dump station will be available on site. Facility rendering pictured below, courtesy of InSite Property Group.
Based in Redondo Beach, California, InSite Property Group is the parent corporation of SecureSpace Self Storage. As a vertically integrated self storage developer, operator, and manager, InSite Property Group currently has over 30 stores operating and under development. Please visit https://www.InsitePG.com to learn more.
Relax. It’s safe at SecureSpace.
Based in Redondo Beach, California, the SecureSpace team is dedicated to providing you with a hassle-free self storage experience. All of our facilities provide the latest amenities for securing your belongings. We look forward to serving you and satisfying your storage needs - please visit https://www.SecureSpace.com to make a reservation or learn more today.
