Extra Space Storage will manage the four A-American Self Storage properties in Hawaii recently purchased by W.P. Carey & Co., a N.Y. investment firm.
A-American was founded by Edmund C. Olson 35 years ago. The family-owned business has more than 100 facilities in five states. Olson also owns large tracts of land in Hawaii.
In February, Olson entered into a voluntary conservation easement agreement with the newly formed Hawaiian Islands Land Trust to protect 1,276 acres of land on the slopes of Oahu's Waianae mountains. The agreement also covers 907 acres in the Big Island's Kau district. No development, including homes, commercial, roads or power lines will be permitted. Most of the acreage is currently used by three small ranchers, who will continue to lease the land.
Headquartered in Salt Lake City, Extra Space owns or operates 820 self-storage properties in 34 states and Washington, D.C. The company's properties comprise approximately 550,000 units and more than 59 million square feet of rentable space.