Go Store It, a provider of vehicle and self-storage rentals, has reportedly acquired a storage facility that is newly constructed and located on Nantucket, bringing in the company’s first acquisition in the Northeast. Apparently, this facility is 100 per cent climate controlled, features 672 units and spans over 63,000 rentable square feet and would be branded as Go Store It.
Founder of Go Store It, Ryan Hanks, said in a statement that the company has been presented with a very unique opportunity through this acquisition. The company is a big supporter of Nantucket on a personal level and sees the demand for quality self-storage on the Island.
Hanks further said that Nantucket has some major barriers to entry, and the company is now owning an institutional quality asset on the island. The company looks forward to working with local community of Nantucket for several years to come, he added.
According to reports, Go Store It has finished this year with 13 acquisitions in 2018 along with delivering 4 new development projects. While the primary footprint of Go Store It has been in the Southeast, the company is now seeking to further expand in Texas, the Southwest and in select Northeast Markets.
Sources familiar with the matter said that Go Store It would also start to offer third party management services in 2019, seeking to selectively partner with owners and developers who would like to grow their own platform and maximize revenues.
For the record, Go Store It is based in Charlotte, NC and specializes in the management, development and acquisition of self-storage assets throughout the nation. Currently, Go Store It owns more than 2,200,000 square feet of storage space, along with having another 900,000 square feet in the pipeline via acquisitions and development.