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DENVER–(BUSINESS WIRE) – SpareBox Storage, a national self-storage platform focused on consolidating the highly fragmented self-storage sector in the United States, announced today that it has four stabilized properties from multiple sellers in Austin TX and Rogers AR acquired and added 700,000 net rental space to its portfolio. SpareBox is continuing to expand its platform in northwest Arkansas and has built a new presence in the fast growing Austin TX market.
Steve Treadwell, CEO of SpareBox Storage said, “SpareBox continues our strategy of building a diversified portfolio of high quality assets in secondary and tertiary markets with favorable demographic fundamentals. We are excited to establish a business in the Austin market during this period of exceptional growth and transformation for Central Texas. We’re also excited to announce the addition of a fifth store in the vibrant Northwest Arkansas region. We continue to focus on unique opportunities to expand our portfolio and serve customers in growing markets across the Southwest, Southeast and Midwest. ”
SpareBox Storage is sponsored by Rizk Ventures and led by industry veterans Steve Treadwell, Chuck James and Kate Matheny. The company was founded in 2020 with a mission to build a scalable, national self-storage company by combining clusters of stabilized assets in smaller markets or in the suburbs of larger markets. SpareBox creates value in its portfolio by providing operational, technology and marketing solutions through an institutional management platform.
Rizk Ventures is an operations and investment platform for special situations with a focus on real estate, technology and healthcare. Rizk Ventures has established real estate operating platforms in a number of sectors in both the United States and Latin America. Founded by Thomas A. Rizk, the company has more than 30 years of real estate experience and currently owns and operates commercial and healthcare properties in Pennsylvania, New Hampshire, Michigan, Ohio, Minnesota, Arizona, Texas, Oklahoma, Arkansas, South Carolina, and Florida as well as the country of Colombia with a total area of 16 million square feet.
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