SpaceGenie Opens First Self-Storage Facility in Germany

German self-storage company SpaceGenie, which was launched in 2022 by alternative asset management firm Intrivia Capital, has opened its first facility in Hassloch, Germany. SpaceGenie plans to launch six more locations this year, and is currently in negotiations to acquire 11 additional sites. The ultimate goal is to develop and manage 50 locations by 2027. 

According to the company website, the Hassloch facility "offers a range of solutions tailored to meet the diverse needs of both private and commercial customers. Storage units are designed with versatility in mind, providing the perfect space for a variety of storage needs. Units can be accessed directly by vehicle for quick loading and unloading."

The website notes that small businesses can take advantage of its mega units, which have an additional 28 sq m (approximately 300 sq ft) mezzanine level.

"The strong demand for our first facility in Hassloch has exceeded our expectations, with over 25% of the space already leased at rates above our forecast," says Joe Hare, director at Intrivia Capital. 

Hare adds that the company has appointed Steffen Kluners as CIO and Malte Behrens as CFO. "I am delighted to welcome Steffen and Malte, who bring deep expertise to our operations as we scale up. We are also looking to expand our team with strategic hires throughout 2024 to meet Germany's growing need for self-storage solutions."

Kluners comments, "The German self-storage market is severely undersupplied... [SpaceGenie] is committed to become the dominant player over the next two years in Germany."

Visitors to the SpaceGenie website can take a virtual tour of the Hassloch self-storage facility. Take the tour.