{"id":1004474680,"date":"2020-08-31T04:10:17","date_gmt":"2020-08-31T12:10:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004474680"},"modified":"2025-02-26T06:24:51","modified_gmt":"2025-02-26T14:24:51","slug":"rizk-ventures-launches-self-storage-platform","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/","title":{"rendered":"Rizk Ventures Launches Self Storage Platform"},"content":{"rendered":"
\"\"<\/a>

SpareBox self storage property in Amarillo, Texas. Image courtesy of Rizk Ventures\/SpareBox Storage<\/em><\/p><\/div>\n

Rizk Ventures LLC, of New York, has launched SpareBox Storage, a national self storage platform<\/a>, under the leadership of CEO Steve Treadwell, who most recently was COO of National Storage Affiliates, a publicly traded REIT.<\/p>\n

\n

READ ALSO<\/strong>: Self Storage Sector Shows Signs of Resilience<\/a><\/p>\n

\n

SpareBox Storage has already closed on its first acquisition, a portfolio of 10 stabilized self storage properties in Amarillo, Texas, totaling 670,000 net rentable square feet and more than 4,000 units, with an 86 percent average occupancy rate. Together, the properties reportedly account for more than a quarter of all self storage space in the Amarillo market.<\/p>\n

\"\"<\/a>

Steve Treadwell, Founder & CEO, SpareBox Storage. Image courtesy of Rizk Ventures\/SpareBox Storage<\/em><\/p><\/div>\n

In addition, SpareBox has secured an acquisition facility of as much as $500 million through JPMorgan Chase Bank. SpareBox\u2019s mission reportedly \u201cis to acquire and build a scalable, national self storage company by focusing on clusters of undervalued assets in smaller markets or in the suburbs of larger markets, delivering operational, technology and marketing solutions<\/em>.\u201d<\/p>\n

Consolidation, not development<\/h2>\n

In a prepared statement, Tom Rizk, chairman & founder of Rizk Ventures, noted that the self storage market \u201chas very strong fundamentals, a compelling growth profile<\/em>\u201d and plenty of unconsolidated product, with about 50,000 stand-alone self storage facilities and roughly 30,000 smaller operators. Treadwell added that SpareBox is \u201cinvolved in a number of discussions with other owner\/operators to add quality properties to our portfolio<\/em>.\u201d<\/p>\n

In the property type nationally, \u201ctransaction activity remains robust<\/em>,\u201d according to a market report from Newmark Knight Frank. \u201cBrokers are reporting continued interest and capital flow into the self storage asset class<\/em>,\u201d the report explains. \u201cThe long term, steady cash flow characteristics and performance in dynamic (even recessionary) economic conditions indicate market sentiment that self storage is a safe haven, or a hedge against market turbulence<\/em>.\u201d<\/p>\n

\"\"<\/a>

SpareBox self storage portfolio in Amarillo, Texas. Image courtesy of Rizk Ventures\/SpareBox Storage<\/em><\/p><\/div>\n

In early July, Commercial Property Executive highlighted<\/a> five secondary markets where more than 44 million square feet of self storage space was planned or under construction as of May: Augusta, Ga.; Providence, R.I.; Knoxville, Tenn.; Rochester, N.Y.; and Worcester-Springfield, Mass. <\/p>\n

And the previous week, Nathan McElmurry of InSite Property Group<\/a> laid out some of the possibilities of how the coronavirus pandemic could challenge the self storage sector, which he contended was already overbuilt before COVID-19.<\/p>\n","protected":false},"excerpt":{"rendered":"

SpareBox Storage has made its first purchase and secured an acquisition facility of as much as $500 million through JPMorgan Chase Bank.<\/p>\n","protected":false},"author":882,"featured_media":1004474686,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21825,23891,21742],"tags":[32972,35274,38527,36007],"class_list":["post-1004474680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-finance","category-national","category-latest","tag-jp-morgan-chase-company","tag-jpmorgan-chase","tag-national-storage-affiliates-trust","tag-newmark-knight-frank"],"acf":[],"yoast_head":"\nRizk Ventures Launches Self Storage Platform - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rizk Ventures Launches Self Storage Platform\" \/>\n<meta property=\"og:description\" content=\"SpareBox Storage has made its first purchase and secured an acquisition facility of as much as $500 million through JPMorgan Chase Bank.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-31T12:10:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-26T14:24:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png\" \/>\n\t<meta property=\"og:image:width\" content=\"740\" \/>\n\t<meta property=\"og:image:height\" content=\"555\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/\",\"name\":\"Rizk Ventures Launches Self Storage Platform - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png\",\"datePublished\":\"2020-08-31T12:10:17+00:00\",\"dateModified\":\"2025-02-26T14:24:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png\",\"width\":740,\"height\":555,\"caption\":\"SpareBox self storage property in Amarillo, Texas. Image courtesy of Rizk Ventures\/SpareBox Storage\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rizk Ventures Launches Self Storage Platform\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rizk Ventures Launches Self Storage Platform - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/","og_locale":"en_US","og_type":"article","og_title":"Rizk Ventures Launches Self Storage Platform","og_description":"SpareBox Storage has made its first purchase and secured an acquisition facility of as much as $500 million through JPMorgan Chase Bank.","og_url":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-08-31T12:10:17+00:00","article_modified_time":"2025-02-26T14:24:51+00:00","og_image":[{"width":740,"height":555,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png","type":"image\/png"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/","url":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/","name":"Rizk Ventures Launches Self Storage Platform - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png","datePublished":"2020-08-31T12:10:17+00:00","dateModified":"2025-02-26T14:24:51+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png","width":740,"height":555,"caption":"SpareBox self storage property in Amarillo, Texas. Image courtesy of Rizk Ventures\/SpareBox Storage"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/rizk-ventures-launches-self-storage-platform\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Rizk Ventures Launches Self Storage Platform"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/08\/SpareBox-self-storage-property-in-Amarillo-Texas.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004474680","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004474680"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004474680\/revisions"}],"predecessor-version":[{"id":1004534055,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004474680\/revisions\/1004534055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004474686"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004474680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004474680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004474680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}