SOURCE: Global Self Storage, Inc.

Global Self Storage, Inc.

September 27, 2016 16:47 ET

Global Self Storage Completes Acquisition of Self Storage Facility in Fishers, Indiana

NEW YORK, NY--(Marketwired - Sep 27, 2016) -   Global Self Storage, Inc. (NASDAQ: SELF), a real estate investment trust (REIT) that owns and operates self storage facilities, has completed the acquisition of a self storage facility located in Fishers, Indiana for approximately $7.7 million.

The 81,561 net leasable square foot self storage facility is comprised of climate controlled storage, traditional drive-up storage, and outdoor parking storage. The store, situated at the 96th Street and Olio Road intersection and one mile east of Geist Reservoir, features 418 storage units and a retail building currently leased to Geist Montessori Academy. The store was built in three phases during 2007, 2009, and 2014, and opened under company management on September 27, 2016.

"Our latest acquisition is a state-of-the-art facility located in the heart of the growing, affluent Fishers/Geist market in northeast Indianapolis," said president and chief executive officer of Global Self Storage, Mark C. Winmill. "With the opportunity to increase occupancy rates and potentially expand operations at this location, we are confident this is another great addition to our portfolio, which now consists of nine stores."

In late August, the company closed the acquisition of its eighth store located in Lima, Ohio.

About Global Self Storage
Global Self Storage, Inc. is a self-administered and self-managed REIT focused on the ownership, operation, acquisition, development and redevelopment of self storage facilities in the United States. The company's self storage facilities are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. It currently owns and operates, through its wholly owned subsidiaries, nine self storage properties located in New York, Pennsylvania, Illinois, Indiana, South Carolina and Ohio. For more information, go to http://ir.globalselfstorage.us or visit our self storage customer site at www.globalselfstorage.us.

Cautionary Note Regarding Forward Looking Statements
Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws. Forward looking statements include statements concerning the company's plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions and other information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "expects," "estimates," "may," "will," "should," "anticipates" or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. The company may also make additional forward looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by the company or on its behalf, are also expressly qualified by these cautionary statements. All forward-looking statements, including without limitation, the company's examination of historical operating trends and estimates of future earnings, are based upon the company's current expectations and various assumptions. The company's expectations, beliefs and projections are expressed in good faith and it believes there is a reasonable basis for them, but there can be no assurance that the company's expectations, beliefs and projections will result or be achieved. All forward looking statements apply only as of the date made. The company undertakes no obligation to publicly update or revise forward looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

Contact Information

  • Contacts:
    Global Self Storage, Inc.
    Mark C. Winmill
    President and Chief Executive Officer
    Email Contact
    1-212-785-0900, ext. 201

    Liolios Investor Relations
    Michael Koehler
    Email Contact
    1-949-574-3860