StorageMart, a Columbia, Mo.-based self-storage operator with 165 facilities in Canada and the United States, recently acquired two Strong Box Storage locations in Lincoln and Papillion, Neb. The facilities comprise more than 106,000 net rentable square feet in 793 storage units. They will be rebranded under the StorageMart name.
The property at 1502 Bristol St. in Papillion comprises 59,375 net rentable square feet in 392 storage units. It will be the company’s first location in the Omaha metropolitan market. The facility at 2701 W. O St. in Lincoln comprises about 46,600 square feet and will be StorageMart’s second in the city. Both were more than 80 percent occupied at the time of purchase, according to a press release.
"We're very pleased to be making our initial entry into the Omaha market," said Mike Burnam, StorageMart CEO. "The property in Papillion meets all of our operating criteria. We're also very excited to be increasing our presence in Lincoln."
Both properties will receive interior and exterior lighting upgrades and carpeted hallways, according to a press release. In addition, the facilities will feature perimeter fencing, PIN-controlled gate access, video cameras, climate control, vehicle storage, and a full supply of moving and packing supplies, company officials said.
Bill Bellomy, Michael Johnson and John Owens of Bellomy & Co. represented StorageMart and the seller in the transaction. Bellomy & Co. is a real estate firm specializing in the self-storage industry. The company has offices in Austin, Houston and Lubbock, Texas.
Founded in 1999, StorageMart serves more than 75,000 self-storage customers across Canada and the United States. The company operates in Chinese, English, Punjabi, Quebecois French and Spanish.
