Columbia-based ezStorage has inked a $1.8 billion deal to sell its portfolio to Public Storage PSA.
The sale means that ezStorage’s 48 locations in the Baltimore area, Washington, D.C. and Northern Virginia will soon change hands to the national self-storage giant based in Glendale, California.
The deal comes amid a national self-storage craze that has been among the hottest new trends in commercial real estate, due in part to families moving during the pandemic. The acquisition is expected to close in May.
ezStorage started humbly in Howard County in 1988 with 700 self-storage units. Today, its portfolio spans a total of 4.2 million square feet of rentable square footage in a total of 47,000 units, most of them climate controlled.
