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Depotium Sells Initial Site for $13.8 Million 

Published: September 21, 2006

Public Storage acquired Quebec-based Depotium’s flagship facility, Cote De Liesse, in June for $13,850,000. The deal followed eight months of on-again, off-again negotiations. The facility comprises 216,000 rentable square feet and 2,400 units, making it the largest self-storage locale in Canada, according to Turan Kalfa, who founded Depotium in 1996.

Critics warned Kalfa he would never succeed in converting the old spaghetti factory into self-storage because the building was too vast and the ceilings too high. “I never used roll-up doors, I never covered the top of my lockers, and had no individual door alarms,” Kalfa says. “In 10 years, I’ve not had a single break-in or lost one item because the tops weren’t covered, and the swing doors seem to work fine.” To date, Kalfa has built Depotium into 12 operational facilities with plans to expand to 50 locations by 2010.

Source: http://www.insideselfstorage.com/articles/339/68h211552547378.html