Self Storage News

• Storage Deluxe Announces Opening of New Facility in the Bronx, New York
• Storage Deluxe Acquires Building in Bronx, New York
• Storage Deluxe Opens New Facility in the Bronx, New York
• Storage Deluxe Acquires Self-Storage Facility in Freeport, New York
• Storage Deluxe Named SSA Facility of the Month, September 2002
• Storage Deluxe Is Awarded Two Management Contracts
• Storage Deluxe acquires 110,000 SF Building on Brook Avenue in the Bronx, New York
• Storage Deluxe acquires 2887 Atlantic Avenue, Brooklyn, New York, a 90,000 SF Building
• Storage Deluxe acquires 1125 Wyckoff Ave, Queens, NY
• Storage Deluxe acquires 1,400 unit self storage facility (PDF)
• Storage Deluxe acquires 80 S. Kensico Ave., White Plains, NY, a 1,400 Unit Self Storage Facility (PDF)

NEW YORK, New York, March 2002 -- Storage Deluxe, a Manhattan-based owner, developer and manager of self-storage facilities, announced today that it has acquired the Keeper's self-storage facility located at 80 Mill Road in Freeport, New York on the South shore of Long Island.

The one-story building contains a total 126,000 square feet consisting of a 69,000 square foot self-storage facility with 540 storage units, and a vacant 57,000 square foot warehouse facility. The property is conveniently located near the entrance to the Meadowbrook Parkway, has excellent access and visibility on Mill Road, and is in close proximity to the newly opened 100,000 square foot BJ's Warehouse, which is located just east of the property.

Storage Deluxe also announced that it would immediately begin redevelopment work on the property. The plans include an upgrade/renovation of the exterior façade and leasing office, refurbishment of the units and interior hallways, installation of a HVAC system to provide climate controlled units, and the addition of approximately 500 self-storage units through the conversion of the warehouse facility.

Commenting on the acquisition, Steven Novenstein, Partner and Chief Operation Officer stated, "The Keeper's facility represents a unique investment opportunity. Through a redevelopment and expansion program, we believe we can reposition the property and capitalize on the strong demographic and demand characteristics of the Freeport market."

Storage Deluxe is a real estate company specializing in the acquisition, development, and management of self-storage properties. The company owns, has interest in, and manages six facilities containing over 600,000 square feet of storage space in the greater New York area. For more information, contact Steven Novenstein, Partner/Chief Operating Officer at (212) 309-8709.