SpareBox Storage Eyes $1 Billion in Deals as People Leave Cities
- Rizk Ventures-backed firm sees sector as resilient in pandemic
- New company plans to target smaller cities for acquisitions
Photographer: tacojim/Getty Images
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Rizk Ventures-backed SpareBox Storage is seeking to amass $1 billion in assets in an effort to consolidate the fragmented self-storage market.
The recently launched company is targeting businesses across the U.S., with an eye toward making 15 or more acquisitions within the next year, according to Tom Rizk, chairman of Rizk Ventures Self Storage LLC, which manages SpareBox.