Rizk Ventures launches national self-storage platform SpareBox Storage
Rizk Ventures, founded by Thomas A. Rizk, has launched SpareBox Storage, a national self-storage platform.
Rizk Ventures, a special-situation operating and investment platform with a focus on real estate, technology and healthcare, owns and operates more than 10 million square feet of office, light industrial, flex and healthcare real estate across the United States.
Steve Treadwell, longtime industry executive and most recently COO at publicly traded REIT National Storage Affiliates (NSA), is the CEO.
In connection with the launch of the platform, SpareBox Storage disclosed that it has closed on its first acquisition in Amarillo, Texas. SpareBox acquired 10 stabilized self-storage properties with 670,000 net rentable square feet and over 4,000 units with approximately 86 percent occupancy. All of the properties are in the attractive Amarillo demographic market and account for more than 25 percent of the total square footage in the Amarillo self-storage market.