The Southern California firm, AC Self Storage Solutions LLC is expanding with a well-controlled plan. They have several criteria that they use as a standard for purchasing facilities. The property should have between 60,000 to 120,000 net rentable square feet. They should be primarily in the Sun Belt markets and have a strong demographic. The occupancy rate should be 80% or greater and they should be in top physical condition.
Using those criteria, they have expanded their portfolio over the last year-and-a-half with the purchase of four facilities. They recently purchased another facility which makes it the fifth purchase in less than two years.
They acquired the Go Store It Self Storage facility in the Houston suburb of Pasadena, Texas. The facility is located at 7905 Spencer Highway and has 144,605 square feet of rentable space and has the occupancy rate of 85 percent.
In addition to the well-kept facility and grounds, there are two other factors that make this facility desirable. It is near the central campus of the San Jacinto College which is a commuter college with 12,000 students. Also, the neighborhood consists primarily of single and multi-family residential housing.
“This is definitely one of the more attractive Self Storage facilities I’ve seen,” states Troy Downing, Chief Executive Officer, AC Self Storage Solutions, LLC. “The facility is Class-A, has a tremendous amount of curb appeal, and is well occupied in what we believe is a strong market.” Downing continues, “We have transitioned property management and expect to improve this facility with professional management and aggressive revenue management.”
AC Self Storage has five facilities in Texas, two in Tennessee, two in Nevada, and one in Colorado. The firm has offices in Carlsbad and Newport Beach, California. They have over a million square feet of self storage space in their portfolio.
In June 2012, AC Self Storage Solutions was retained by the owners of a storage facility in Las Vegas to manage and operate the facility. The facility has 653 storage units with 95,000 net rentable square feet.
The leadership management team is comprised of professionals who have experience in various aspects of the self storage industry, in commercial real estate, asset management, investment banking, technology, and finance. Their team includes Troy Downing, F. Craig Morris, Tim Snodgrass, Felix Dadivas, Chase Hoeven, Lauralea Emel, and Stephanie Roberts.
“AC Self Storage Solutions LLC Acquires the ‘Go Store It’ Self Storage in Houston Suburb of Pasadena, TX.” PR Web; 31 January 2013.