Mitiska REIM and STORO open fifth self storage site

Mitiska REIM, a specialist investor in European convenience real estate, announced the opening of its fifth self-storage facility in Belgium in partnership with STORO. Located close to Brussels airport, this latest site has 600 storage units ranging in size from 1 sqm to 30 sqm, with a total rentable area of 4,250 sqm spread across three floors.

Developed on behalf of the MEREP 3 fund, this project involved the conversion and refitting of a former office building to create a modern and sustainable self-storage facility, designed to achieve a “Very Good” score on the BREEAM scale.

Like other STORO sites in Brecht, Mechelen, Roeselare and Groot-Bijgaarden, the Zaventem site is a next-generation self-storage facility, offering customers a unique digital booking and onboarding process, a keyless system for units managed on an app and a fully digital automated service.

Lennert De Bruyn, Managing Director of STORO, comments: “This latest opening is part of our plan to roll out the innovative STORO concept across cities in Belgium. We continue to see increasing consumer demand for conveniently located and digitally accessible self-storage, which is reflected in the high occupancy rates and solid lease up across our other sites.”

Bart Rabaey, Mitiska REIM’s Chief Investment Strategy Officer, adds: “We see a significant opportunity to transform and capture value from assets which are currently underperforming, vacant or obsolete, such as offices, industrial buildings and showrooms. This strategy not only allows us to acquire sites at attractive pricing, but it also contributes to sustainable development by repurposing existing buildings and providing them with a new future, in addition to retaining the embodied carbon within.”