The property is a section in the same building where SSG owns and operates an existing facility under the City Self Storage brand.
“With this acquisition SSG will get ownership of the whole building, enabling additional expansion of the facility. With this investment we will strengthen our position as market leader in the Østfold Region, in line with our strategy to grow our freehold portfolio in selected markets. There is a growing demand for self-storage in Norway, as urbanization and smaller living spaces cause an increasing need for external storage solutions,” says Fabian Søbak, CEO of Self Storage Group.
The property is currently occupied by one tenant, and conversion into self-storage will be performed when the existing lease contract expires.