Sovran Self Storage has acquired 14 new self storage facilities and agreed to manage two others in deals worth a total of $83 million, the Williamsville-based real estate investment trust said Wednesday.
Sovran said it acquired six facilities in Chicago, four in southwest Florida, three in Austin, Texas, and one in Phoenix, Ariz., in six separate transactions.
The acquisitions will add 960,000 square feet of space to its portfolio of self storage facilities, which now operates 462 stores in 25 states, mostly in the eastern half of the United States.
Sovran acquired 28 new stores during the past year in deals worth a total of $190 million. The company also took over management responsibilities for 17 others. All of the stores were switched to Sovran’s Uncle Bob’s brand name.