Mitiska REIM announces two new Storo self storage sites

Mitiska REIM, a specialist investor in European convenience real estate, has announced that construction is underway on two new Storo self-storage sites in the Belgian cities of Antwerp and Mechelen.

Scheduled to open next year, these two new sites will create a portfolio of seven Storo facilities developed on behalf of the MEREP 3 fund, offering more than 3,500 storage units with a net lettable area in excess of 28,000 sqm. Additional projects are in the pipeline at permitting and late-stage negotiation, with opening planned in 2026/27.

The Antwerp project involves the renovation of a former lift manufacturing facility and showroom to create 750 self-storage units across a net lettable area of 5,000 sqm, plus 1,500 sqm of wholesale storage and two 450 sqm SME units. The new Mechelen site will become the second Storo facility in the city, and is a new development which will offer 500 units with a net lettable area of 3,500 sqm spread over five floors.

Storo Antwerp is planned to open in June next year, with the new Mechelen site scheduled for autumn 2026. Storo’s existing sites are in Brecht, Mechelen, Roeselare, Groot-Bijgaarden and Zaventem.

Lennert De bruyn, Managing Director of Storo, comments: “The Storo concept is proving very popular with both consumers and businesses, with occupancy rates exceeding 85 percent in our initial sites and solid lease up across our latest facilities. Storo represents the next generation of self-storage, offering customers a unique digital booking and onboarding process, a keyless system for units managed on an app and a fully digital automated service.”

Bart Rabaey, Mitiska REIM’s Chief Investment Strategy Officer, adds: “We see a significant investment opportunity in the self-storage sector, fuelled by the increasing demand for conveniently located, digitally accessible and sustainable self-storage. The sector is currently underserved in Europe but well positioned to create value, underpinned by constrained supply, strong tenant demand and positive NOI growth. We think that Storo is very well placed to meet this demand.”