Compass Self Storage, a member of the Amsdell family of companies, recently acquired a self-storage facility in Providence, R.I. The property at 711 Branch Ave., the company’s first acquisition in the state, will be rebranded under the Compass name. The purchase was made by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC.
The facility comprises 58,000 net rentable square feet of storage space. Compass plans to spend approximately $500,000 on capital improvements, including a digital surveillance system with access controls, LED lighting, online-payment capabilities and other conveniences, according to a company press release. When completed, the business will offer indoor, climate-controlled units, and moving and packing supplies.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. Since its inception, the company has been active in several billions of dollars of real estate ventures, with a primary focus on self-storage. It has owned and operated more than 500 storage centers under various trade names in more than 27 states. It currently owns and operates properties in Florida, Georgia, Kentucky, Michigan, Mississippi, New Jersey, Ohio, Pennsylvania, Tennessee and Texas.
