The portfolio comprises 415,000 rentable square feet and 3,500 storage units for rent. In combination with Storage Pros’ three existing Knoxville facilities on Sutherland Avenue, Papermill Drive and Shotsman Lane, Storage Pros is now the largest owner-operator of self storage in the Knoxville market.
In all, Storage Pros owns and operates 13 facilities in Tennessee, including two additional properties in the Nashville suburb of Goodlettsville.
The eight facilities will be rebranded to the “Storage Pros Self Storage” trade name, and will undergo a selective capital improvements program. Storage Pros also intends to implement an innovative marketing program with a focus on local sports teams and the University of Tennessee.
David Levenfeld, President and CEO of Storage Pros, commented, “The acquisition of these eight well-located properties cement our position as the dominant provider of self storage in Knoxville. We now have the opportunity to enhance brand awareness, and to leverage operating efficiencies with our greater exposure in the Knoxville market.”
Storage Pros owns 47 properties and manages a total of 53. The facilities are in six states in New England, Michigan, Florida and Tennessee. The properties comprise more than 3.125 million square feet of self storage space and more than 27,500 storage units and parking spaces for rent.
For more information on SPM, please visit www.StorageProsManagement.com.
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