Metro Storage LLC, which operates more than 100 self-storage facilities in 11 states, has purchased Willow Grove Self Storage in the Philadelphia suburb of Willow Grove, Pa. The property at 1145 Easton Road encompasses 92,000 rentable square feet of storage space in 626 units. It features ground level units, climate control, drive-up access, U-Haul truck-rental services, and a retail store that sells moving and packing supplies.
This is the eighth self-storage facility Metro Storage has opened in the Philadelphia area in the last year. “With 11 stores now in the Philadelphia area, we have effectively established the Metro brand in this market,” said chairman Matt Nagel.
Last month, Metro acquired three storage facilities in North Philadelphia suburbs for $29 million through a partnership with LaSalle Investment Management, a real estate investment management company. The sale included the two-property StorageWORKs portfolio, with facilities in North Wales and Warminster, Pa., as well as Newtown Storage in Newtown, Pa.
Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the acquisition, development and management of self-storage facilities nationwide.
