Compass Self Storage, LLC, is at it again. It is projected that they will continue along in this same manner in the foreseeable future. And what is it that they are doing again? Why growing, that’s what – and growing at a remarkable rate.
The company has recently purchased a self storage property in Memphis, Tennessee, at 6780 Country Park Drive.
This facility is the sixth one in the Memphis area for Compass Self Storage. It has 56,125 rentable square feet, drive up access, outdoor storage, and truck rental. They also offer a full line of moving supplies for sale in their office.
Let’s look back over this past year and view some of the acquisitions that they have made. In March, they acquired one facility in Oviedo, Florida. The facility has over 65,800 square feet of rentable space.
In June 2012, the company purchased five self storage properties in the greater Cincinnati area. These properties are Compass Self Storage’s first facilities in that area. Those facilities brought in over 308,000 square feet of net rentable square feet to the company.
In July, Compass Self Storage purchased five storage facilities in Memphis. That added over 300,000 net rentable square feet and over 2100 units to their portfolio. These were the first facilities that they have in Memphis.
In August, they bought a facility in Neptune, New Jersey, which is in the Jersey Shore area. That building is the first one in the area for Compass Self Storage. It has over 50,000 rentable square feet.
This last acquisition is once again in Memphis and brings the number of facilities purchased in just the last year to nineteen. Nineteen! That’s significant growth in one year.
Compass Self Storage is a member of the Amsdell family of companies. Amsdell is headquartered in Cleveland, Ohio. Founded in 1928, the company is over 80 years old.
Through the years, Amsdell has been active in several billions of dollars worth of real estate ventures in the self storage industry. They have owned and operated over 500 facilities under various trade names in over 27 states. Amsdell currently has self storage facilities in Pennsylvania, Florida, Michigan, New Jersey, and Ohio.
Everyone knows that history repeats itself. That means that Compass Self Storage will continue to purchase facilities and continue to grow its portfolio.