INDUSTRY NEWS 1Q 2022
Sentry Releases Operating Results Sentry Self Storage Management announced operating results for the third quarter ending on Sept. 30, 2021. The company reported same-store revenue growth of 18 percent, and reduced operating expenses drove net operating income (NOI) to a 19 percent year-over-year same-store increase. Sentry’s total revenue growth was 35 percent and total NOI growth was 23 percent. Quarter over quarter, revenue grew by nine percent, operating expenses remained flat, and net operating income increased by 11 percent.
2022 Catalog Available Chateau Products
the has
released its 2022 product catalog. To take a look at
124-page cata-
log, visit
www.chateau
products.com.
CFI Unveils New Floor Coating Coatings for Industry, Inc. (CFI), has intro- duced WearCOAT 2055, a new long-cure polyaspartic floor coating formulated to provide a smooth, glossy finish. The new product is ideal for use in high-visibility, high- traffic environments. It’s formulated to flow out flat and cure to touch in four to six hours
to help eliminate dry roller overlap marks or other imperfections. Additionally, it is highly resistant to UV exposure for excellent color stability. Available in standard colors and clear in full gloss, WearCOAT 2055 is conveniently packaged in one- and five-gallon kits. For more information on WearCOAT 2055, visit
cficoatings.com or call (215) 723-0919.
Vineburg Storage Installs Solar Vineburg Storage in Novato, Calif., has installed 298 high-efficiency 380 kW solar panels to its rooftop to produce 163,813 kWh of sustainable electricity every year. Vineburg Storage will reduce its expenses and lower its carbon footprint by offsetting 116 metric tons of carbon dioxide that would otherwise be emitted by fossil-fuel-based utility power. This impact is equivalent to saving 269 barrels of oil, removing air pollution produced by over 292 miles of driving, or the pollutants removed by planting 142 acres of trees annually.
PC Launches Storage Division Peterson Cos. (PC), a real estate develop- ment firm based in Fairfax, Va., has launched an official self-storage division. The new department, the company’s first in 35 years, will be led by Jim Mertz, senior vice presi- dent. PC, which owns three self-storage facilities managed by CubeSmart, develops, owns, and manages commercial, office, residential, retail, and self-storage properties in Maryland and Virginia.
K-9 Sniffs Out Cat Burglar On Nov. 24, 2021, a police officer and her K-9 partner, Kilo, tracked a burglar who was hiding at the U-Haul Moving & Storage facility in Methuen, Mass. Juan Rivera, 42, was found hiding in a third-floor self-storage unit after alarms sounded at 2 a.m. Kilo led officers to a storage unit containing several large cabinets and Rivera was hiding in one of them. He was in possession of two screw- drivers and a flashlight, which were used to pry open cabinet drawers in the office and remove two video monitors. The monitors were later found in the building. Rivera was charged with breaking and entering, posses- sion of burglary tools, and malicious destruc- tion of property under $1,200.
6 Self-Storage NOW!
IRE Announces New Hires Investment Real Estate, LLC (IRE) recently announced the hiring of Daniel VonBussenuis as project manager. Added to the construction and development depart- ment, he is responsible
for planning and overseeing Daniel VonBussenuis
Wesley Benfer
projects. He predicts resources needed to reach objec- tives, manages resources, and provides project updates on a consistent basis about strategy, adjustments, and progress. He also manages contracts with vendors and suppliers.
In addition, IRE has hired Wesley Benfer as acquisitions broker. He is responsible for sourcing, negotiating, and prospecting new acquisitions on behalf of IREGC.
ASM Announces Operating Results Absolute Storage Management (ASM), has released its operating results for the three and nine months ended Sept. 30, 2021. For the three months ended Sept. 30, 2021, ASM increased same-store revenue by 17.1 percent compared to the same period in 2020. It also achieved NOI of 22.5 percent. For the nine months ended Sept. 30, 2021, ASM increased same-store revenue by 13.9 percent compared to the same period in 2020. The company ended the time period with 94.4 percent square foot occupancy—a nearly five percent increase over 2020. Moreover, ASM has decreased rental concessions by 38.6 percent and added 12 facilities to its third-party management portfolio.
UNITS Partners With CBPR UNITS Moving and Portable Storage has formed a new partnership with Coldwell Banker Premier Realty (CBPR). UNITS Moving and Portable Storage of Las Vegas is now a Premier Service Provider for the real estate company which includes more than 275 real estate agents. The two companies will combine resources to provide moving and storage solutions for clients throughout southern Nevada. UNITS of Las Vegas is one of two local Coldwell Banker Premier Service Providers selected to service the storage needs of the greater Las Vegas area.
FIRST QUARTER 2022
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