Global Self Storage Inc., a self-storage real estate investment trust, has acquired a facility in Fishers, Ind., for $7.7 million. The property is at the intersection of 96th Street and Olio Road, a mile east of Geist Reservoir. Built in three phases from 2007 to 2014, it comprises 81,561 net leasable square feet of storage in 418 climate-controlled and drive-up storage space as well as outdoor vehicle parking. The property also includes a retail building leased to Geist Montessori Academy.
"Our latest acquisition is a state-of-the-art facility in the heart of the growing, affluent Fishers/Geist market in northeast Indianapolis," said Mark C. Winmill, CEO and president. “With the opportunity to increase occupancy rates and potentially expand operations at this location, we are confident this is another great addition to our portfolio.”
In late August, Global also purchased a storage facility in Lima, Ohio, according to a company press release.
Founded in 1983, Global Self Storage focuses on the acquisition, development, operation, ownership and redevelopment of storage facilities in the United States. Through its wholly owned subsidiaries, it currently owns and operates nine properties in Illinois, Indiana, New York, Ohio, Pennsylvania and South Carolina. The company changed its name from Self Storage Group Inc. in January.
