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Self-Storage in Europe and Veritas International - Overview
Veritas International has formed a JV partnership with Dr. Antonio Battaglia, the CEO of SilvaTeam, to develop self storage in Italy. SilvaTeam is of the largest producers of tanning chemicals in the world. In addition, SilvaTeam’s other divisions include chemicals for food, textiles, pharmaceuticals, petroleum, mining, and general industry. Dr. Battaglia’s resources and contacts in Italy have proved invaluable in furthering the goals of Veritas International. The partnership has purchased property in Turin, host of the 2006 winter Olympics, and is currently converting the warehouse into a Class A self storage facility. The property contains approximately 18,000 square meters (4.5 acres) of land with an existing 6,500 square meter building. The site sits directly on Turin’s busiest highway and has excellent visibility. Even with a population of approximately 1,000,000, Turin does not have any self-storage facilities. The viability of storage in the Italian market, however, has been tested in Milan (a two hour drive from Turin). Milan has several storage facilities all of which appear to be performing very well. It is estimated that the storage center will open in September 2005. Casaforte, Italy’s largest self storage operator, will manage the facility.
For more information, please contact:
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