Canadian Self-Storage Operator Dymon Targets Toronto for Expansion

Canadian self-storage operator Dymon Storage Corp., which has seven facilities in Ottawa, Ontario, Canada, intends to develop approximately 80 storage projects in the greater Toronto area. The expansion plan will place Dymon Self Storage locations between Hamilton and Oshawa, Ontario, according to the source.

Thus far, the company has secured a location in Brampton, Ontario, and another in Toronto, near the Yorkdale Shopping Centre. When its Toronto expansion is complete, Dymon expects to operate a 10 million-square-foot portfolio. No timeline was given for the company’s plan, but the operator is focusing on locations along the “400 series of highways” to create “instant visibility and to allow us to roll out our marketing plan,” Steve Creighton, senior vice president, told the source.

The company requires 125,000 square feet for its self-storage developments. It prefers to own the real estate on which it builds but is open to leasing or other arrangements. It also prefers ground-up construction but is looking at conversion sites as well. Dymon typically identifies sites in high-traffic areas near big-box retailers, the source reported.

Dymon is also an eco-friendly business. It has incorporated rooftop solar panels at its locations in Ottawa and is the city’s largest producer of electricity in the private sector, according to the source. Service offerings include climate-controlled units and free access to a fleet of moving trucks with professional drivers. “We typically don’t do things status quo; we really try to do things unique,” Creighton said.

Dymon, which owns retirement properties in the Ottawa area, built its first self-storage facility in 2006. “We toured North America to dozens of facilities, and we identified the key attributes of those that seemed to perform better than average,” Creighton told the source. “We brought them all back and added a whole bunch of unique features, and we created this Dymon storage brand.”

Dymon’s current portfolio comprises 8,000 self-storage units. In addition to its seven Ottawa properties, the company website lists one development as “coming soon” and identifies nine other sites in the metropolitan area as future locations.