Manhattan Mini Storage Portfolio Hits Market at Potential $3B Price

Edison Properties has introduced the sale offering of its Manhattan Mini Storage business, hoping to fetch in the neighborhood of $3 billion. The portfolio of 18 locations—all of which are in Manhattan, covers 3.1 million square feet across 56,000 units; and counts more than 150,000 customers and an occupancy rate above 95 percent. Edison is hoping to cash in on the spike in the number of New Yorkers that put things in storage during the pandemic.