SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage market across the United States, recently purchased 13 stabilized properties in Myrtle Beach, SC and Amarillo, TX from multiple sellers. Combined, these properties are comprised of approximately 330,000 net rentable square feet and 2,500 units with over 88% occupancy.
“These acquisitions underscore SpareBox’s strategy in building a diversified portfolio of high-quality, stabilized assets in secondary and tertiary markets with great demographic fundamentals.”
The South Carolina portfolio acquisition opens a promising new market for SpareBox in one of the fastest growing markets in the nation while enhancing the geographic diversification of the portfolio. The Amarillo acquisition is a perfect complement to the portfolio of Amarillo properties that SpareBox has previously acquired and it delivers incremental operating efficiencies within the Amarillo market.
Steve Treadwell, CEO of SpareBox Storage said, “These acquisitions underscore SpareBox’s strategy in building a diversified portfolio of high-quality, stabilized assets in secondary and tertiary markets with great demographic fundamentals.”
The SpareBox portfolio now consists of 37 stores across Texas, New Hampshire, South Carolina and Florida, with over 10,000 units and nearly 1.6 million square feet of rentable space.
