Overview
- StorageMart acquired 15 facilities across Manhattan, Staten Island, Brooklyn and Queens totaling about 1.3 million net rentable square feet with 25,498 units and 121 parking spaces.
- The Manhattan Mini Storage brand now spans 51 locations in the New York metro, while StorageMart’s global footprint reaches roughly 354 sites across three countries.
- The company characterizes the transaction as the second-largest self-storage acquisition in New York City history, following its 2021 Manhattan Mini Storage purchase reported at $3 billion by Yardi Matrix.
- StorageMart says the expansion pushes its assets under management past $10 billion, reinforcing its position as a leading privately owned operator in the sector.
- Commercial Observer reported the seller as The Carlyle Group and the deal value at roughly $1 billion, a figure not confirmed by the parties, as New York City posts the nation’s highest self-storage street rates at $34.52 per square foot per Yardi Matrix.