Midtown Vault Storage expands solar on Memphis self-storage facility

Published August 21, 2015

Inside Self Storage

August 19, 2015

Midtown Vault Storage, a self-storage facility in Memphis, Tenn., is expanding the number of solar panels on its rooftop. The new system will cover nearly all of the building’s 12,500-square-foot roof. It’ll be installed by LightWave Solar, the company that mounted the original panels in 2013.

The existing panels have cut the facility’s electric costs by one-third, according to a press release from Absolute Storage Management (ASM), the property-management firm that developed and operates the facility. “Our solar-panel system [will soon cover] two-thirds of our carbon footprint and will do so for the nest 25-plus years. We’ve been very pleased with our experience with LightWave Solar and the system they installed,” said Michael Haugh, ASM President.

Opened in 2006, Midtown Vault is in midtown Memphis, which includes new restaurants, stores and urban revitalization, the release stated. Property features include a business center, truck rental, a retail center selling moving and packing supplies, and vehicle storage.

Founded in 2002, ASM owns and manages self-storage facilities throughout the Southeast, operating more than 80 properties in 11 states. The company is actively seeking to add more properties to its portfolio through traditional third-party management relationships and joint-venture/acquisition opportunities. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; and Jackson, Miss.