Jun 18, 2024


Articles & Insights

ICM Bluebird Canadian Self Storage Fund Acquires Buffalo Run, Adding 83,000 SF to the Taza Exchange Development in Calgary

(June 2024 — Calgary, Alberta) ICM Bluebird Canadian Self Storage LP is proud to announce its latest acquisition in Calgary – Buffalo Run. This marks the first self-storage facility to be established on the Tsuut’ina Nation, strategically positioned to cater to the underserved Southwest Calgary area.

Buffalo Run offers over 83,000 SF of net rentable space with 800 lockers. Since its launch in July 2023, the site has thrived, achieving over 60% occupancy by the end of May 2024 – setting a record lease-up rate within Bluebird’s portfolio. It stands as the only self-storage facility within a 5 kilometer radius, providing exclusive storage solutions amidst bustling surroundings.

Situated within The Shops at Buffalo Run, this Class ‘A’ Bluebird self-storage facility is part of the vibrant Taza Exchange development. Anchored by The Seven Chief’s Sportsplex and 250,000 SF of retail space featuring Costco, alongside leading national brands such as Tim Hortons, Dairy Queen and Dollarama, the area is a high-traffic hub of retail activity and commerce. The property also benefits from excellent visibility from the newly constructed Stoney Trail ring road, serving multiple communities in Southwest Calgary.

This transaction marks the Fund’s 10th outright acquisition since inception and third acquisition in Calgary, bringing the Fund’s Gross Asset Value to over $185 million. The Fund continues to grow its portfolio of Class ‘A’ self-storage facilities, reinforcing its strategy of acquiring institutional quality assets across Canada.

About ICM Bluebird Canadian Self Storage LP

ICM Bluebird Canadian Self Storage LP is the only storage fund in Canada focused on Class ‘A’ assets in major markets. The Canadian self-storage market is undersupplied, and the Fund was built to consolidate a portfolio of institutional quality assets from coast-to-coast.

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