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Ontario  + Canada + Quebec  + Industrial  |  January 3, 2024
StorageVault has agreed to purchase two locations in Ontario for $20 million.
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By: Monte Stewart

StorageVault to Buy Two Ontario Sites for $20M

StorageVault has agreed to purchase two stores in Ontario for $20 million.

Other location details were not disclosed. The transactions are slated to close in the first quarter of 2024, StorageVault said in a news release.

StorageVault expects to finance the acquisitions with cash on hand and first mortgages.

The company also announced that it has completed a previously announced acquisition of a Quebec City storage asset for $13.5 million., StorageVault purchased the proiperty with funds on hand.

With the deals, StorageVault announced a total of $130.1 million in acquisitions for 2023, with $94.6 million of transactions having closed thus far. The Quebec City acquisition is also slated to close in the first quarter of 2024.

Scarborough, Ont.-based StorageVault owns and operates 242 storage locations across Canada. StorageVault owns 211 of these locations and about 5,000 portable storage units representing approximately 11.7 million rentable square feet on 685 acres of land.

The company also provides last-mile storage and logistics solutions and professional records management services.

Photo: StorageVault

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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