Houston, Texas – January 4, 2018 - GreenSpace Self-Storage, LLC (GSSS) is pleased to announce today that it has entered into the second phase of its six-phase business strategy by agreeing to terms with a well-known self-storage investor in the State of Texas (Investor). The agreement calls for GSSS to build at least 50 multi-story, climate-controlled self-storage facilities using the GSSS patents-pending designs within the United States over the next 8 years.
GSSS and the Investor will own these facilities, the vast majority of which will be held as part of a long-term investment strategy.
"I can't tell you how pleased we are to have entered into an agreement of this magnitude with such a high net-worth investment group", said GreenSpace Self-Storage Chief Financial Officer and co-founder, David Ledoux. He added, "we have been working on this deal for several months and we feel very comfortable with not only the terms of the agreement, but more importantly with the integrity and character of our Investor. Getting a deal like this done within 24 months of start-up speaks volumes to the depth and sustainability of our intellectual property, and we just couldn't be more pleased."
GSSS co-founder Rick Stockton added, "The opportunity to build 50 stores for one investor is exciting, but we are also pleased that this transaction provides us with the resources to build facilities for other investors and developers who have either already contacted us about their projects or for those who learn about us in the future."
GSS has already acquired the first 2 properties called for in the agreement.