Corporate Self Storage Facility - How to see if they'd sell?

Question

I passed this place the other day and it was in pretty rough shape.

Its the local Public Storage. Roof had shingles missing and I noticed other deferred maintenance, one of the recent reviews was saying that the climate controlled units were having an AC issue, etc.

With this being a corporation or franchise, how would you go about trying to see if they'd sell? With storage being so hot right now, I could see this being an opportunity, just not really sure what to do next.
The tax records say the LLC name and a PO box.

I'm guessing that this is a franchise owned by the LLC but with it being a Public Storage (name brand company and not a mom and pop) I didn't know if they trade the same as a mom and pop storage facility . My thought would be to send a letter like a residential house but didn't know if there was more I could do. Not sure that being a large company that they'd take a yellow letter seriously.

Any suggestions?

Eric Cornwell · Answer

Not necessarily a corporate-owned store. They are also 3rd party managers of privately-held facilities. This sounds like a managed-facility to me.

You could send a letter - or look into the owner address and see if you can stop in.

Ronald Rohde · Answer

Send a letter, negotiate terms of purchase like anything else. Sometimes corporate will have a right of first refusal, but regardless they will need to approve you as an operator of the franchise. If you don't plan on using the name, there is termination of franchise fees.

Corporate Self Storage Facility - How to see if they'd sell?

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