Compass Expands in Philadelphia with Third Location
- Mar 24, 2016
By Adriana Pop, Associate Editor
The acquisition marks the seventh facility the company has opened under the Compass Self Storage flag since the start of 2016. The Oregon Avenue center offers more than 104,000 net rentable square feet and marks the company’s third location in the greater Philadelphia market.
An advantage of this property is it offers the market’s only fully climate-controlled, drive through building to make moving and storing easy for customers in any weather conditions. The facility also features electronic access, online payments, RV and boat storage, truck rental and a full line of moving and packing supplies.
Compass is now planning a renovation of its newest location, which will include upgraded surveillance systems and a major property facelift. The facility will also offer a smartphone app that will allow customers remote gate access via their phone.
“This acquisition of this self-storage center, well located right off of I-95, will allow us to further expand our service area in the Philadelphia market. The planned improvements for our newest Compass Self Storage location will deliver an upgraded customer experience to the residents and businesses of this area,” stated Todd Amsdell, president.
The acquisition was made by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC. The Amsdell family of companies is headquartered in Cleveland, Ohio, and draws its roots from the family-owned construction company founded in 1928. Since then, Amsdell has been active in several billions of dollars’ worth of real estate ventures, with a primary focus on self-storage. As industry pioneers, the Amsdell team has owned and operated more than 500 storage centers under various trade names in more than 27 states.
Earlier this year, Compass expanded in Taunton, Mass., with the acquisition of a 44,000-square-foot self-storage facility. In February, Compass also entered the Nashville market with the purchase of four self-storage centers totaling 212,000 net rentable square feet.
Image courtesy of Compass Self Storage