Go Store It acquires The Vault storage in Rock Hill, South Carolina
Go Store It, a real estate investment company that offers self-storage assets in the US, has acquired The Vault self-storage based in Rock Hill in South Carolina, for an undisclosed price.
The acquisition marks Go Store It’s fifth location in the Charlotte MSA.
The Vault self-storage will be re branded to Go Store It.
It features 520 units and 70,000 net rentable square feet besides having enough space for parking cars, boats, and recreational vehicles.
Go Store It intends to expand the self-storage facility.
Ryan Hanks – CEO of Go Store It said: “This acquisition presents a unique opportunity for Go Store It and gives us more scale in a target market.
“There is a big demand for quality storage and the market has high barriers to entry. We look forward to owning the facility and getting started on the expansion.”
Go Store It said that the property was purchased as part of a joint venture with Cerberus Capital Management. The Vault self-storage is the second acquisition for the joint venture, which is expected to buy various other assets in the near future.
Go Store It, which is an affiliate of Madison Capital Group, is engaged in acquiring, developing, and managing self-storage assets. Presently, it has a storage space of more than 2,500,000 square feet under ownership and more than 25,000 units.