Hines acquires Storage 365 in Worcester, MA

Deal value: $9M

Hines acquired Storage 365 at 1 Brussels St., Worcester, MA, a four-story self-storage building comprising 50,730 square feet.

Hines' acquisition of Storage 365 reflects a strategic push into the self-storage sector, driven by the asset class's resilience, stable cash flows, and growing demand amid shifting consumer and business storage needs. The timing aligns with Hines' broader expansion into alternative real estate sectors and the opportunity to acquire a well-located, income-producing property in a growing secondary market. The belief is that self-storage offers defensive characteristics and upside potential in a diversified portfolio.