Self-Storage Startup, Flush With Investor Cash, Begins Expansion

Self-storage startup Stuf, recent recipient of investor capital, is beginning a national expansion. The company has 22 locations on both coasts, including Southern and Northern California, metro New York and Washington, D.C., with plans for an unspecified number of new facilities this year.

Stuf recently opened locations in Seattle, including a 5.5K SF location adjacent to a Downtown parking garage and a 3.5K SF space in the basement of a building in Pioneer Square, the Puget Sound Business Journal reports.

Earlier this year, the self-storage startup Stuf closed an $11M Series A financing round led by Altos Ventures and Allegion Ventures, with participation from Wilshire Lane Capital and Harlem Capital, among other investors.

In March, the company opened a location in Boston in space that used to be overflow storage for an office building, but was essentially underutilized.

The new locations hew to Stuf's business model, which takes existing but underutilized space in commercial properties, such as basements, surplus parking space or other neglected spots, and retrofits them to be tech-enabled self-storage, ideally closer to a base of renters.

Stuf is marketing its services to landlords as a way to create new revenue streams, which may be especially appealing to office property owners who are squeezed by tepid occupancies.

“What I heard from investors across the board is, yes, self-storage really needs improvement,” Stuf CEO Katharine Lau told Bisnow in March. “They're surprised that no one has really tackled this approach before.”

By repurposing spaces in existing buildings, the company avoids the time-consuming and costly process of building new, Lau said.

Continue reading this story with a free account

Log in or register
Related Topics: Katherine Lau , Stuf
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

The Bridge-To-Bridge Bet Is Holding Off CRE's 'Day Of Reckoning' — For Now

Augmentation, Not Replacement: How AI Platforms Are Streamlining Front Desk Teams

Lawmakers Punt On Stripping Approvals From 15 Projects In Data Center Alley

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

HUD Launches Investigation Into Wells Fargo's Efforts To Support Black Homeownership

Delaware Statutory Trust Fundraising Jumps 27% From 2025

Bank OZK Shares Drop After Citi Flags $915M Mortgage Concern

Soaring Yields Strand REITs In M&A No-Man's-Land

How UK Investment Giant L&G Plans To Grow Its U.S. Multifamily Holdings

Properties Owned By REIT Accused Of Fraud To Be Auctioned Off

LS Power Raises $6B To Capitalize On Data Center Power Demand

DHS Buys 3 More Detention Facilities From The Geo Group For $950M