Global Self Storage Completes Acquisition of Self Storage Facility in Lima, Ohio
NEW YORK, NY -- (Marketwired) -- 09/01/16 -- Global Self Storage, Inc. (NASDAQ: SELF), a real estate investment trust (REIT) that owns and operates self storage facilities, has completed the acquisition of an 85,768 net leasable square foot, all single-story self storage facility with 739 rental units in Lima, Ohio. The Global Self Storage Lima store is located between Toledo, Ohio and Dayton, Ohio and is set to open under company management on August 30, 2016.
"We are confident the Global Self Storage store in Lima will be an immediately accretive addition to our portfolio, which now consists of eight self storage stores," said president and Chief Executive Officer of Global Self Storage, Mark C. Winmill. "Through our professional management practices, we can capitalize on the full potential of this store, which is the dominant self storage facility in Lima."
"We continue to evaluate our target markets for properties like this one -- properties that not only have the opportunity for significant profit expansion, but also present the highest barriers to entry to our competition."
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, eight 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.
Global Self Storage, Inc.
Mark C. Winmill
President and Chief Executive Officer
1-212-785-0900, ext. 201
Liolios Investor Relations
Source: Global Self Storage, Inc.
Released September 1, 2016