Storage Post continuously managed the property since March 2012 and in that time significantly grew the occupancy and rent roll, which led to the owners’ decision to pursue a sale. Storage Post’s strong familiarity with the Bronx property was conducive to a quick and smooth transaction. The entire acquisition was completed in 22 days.
“This is just the first successful management to acquisition contract we hope to create – especially within our strong New York and New Jersey property base,” said Storage Post Director of Acquisitions Jack Giannola. “Our unrivaled technology and strong industry experience truly simplifies this process for sellers looking for exit strategies.”
Storage Post’s management approaches benefited the ownership group by providing access to a performance-oriented reporting infrastructure. Relevant, real-time operating information was easy to retrieve, which enabled Storage Post to quickly strike a mutually-beneficial deal to purchase the property. With this most recent acquisition, Storage Post continues to increase their core portfolio with high-quality assets within New York City’s sub-markets.
Storage Post actively pursues growth opportunities through the acquisition, redevelopment and management of existing self storage properties. The company targets both single property and portfolio transactions and is looking for existing self storage real estate opportunities nationwide. Storage Post also selectively considers management opportunities for owners seeking increased operational value and investment returns.
For additional information on Storage Post acquisitions and property criteria, contact the Acquisitions Department at 877-674-6777 or acquisitions@storagepost.com, or call Jack Giannola directly at 201-679-6790.
About Storage Post
Headquartered in Atlanta, GA, Storage Post is a leading self storage company that focuses on quality products, operational excellence and superior customer service. Storage Post has locations along the East Coast and throughout the South, and is actively pursuing self storage acquisitions. For more information on Storage Post acquisitions and its executive leadership team, visit www.storagepost.com.
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