When a baby is born into a family, adjustments are made to accommodate the little new addition. When the mother gives birth to twins, the adjustment is major. Two tiny babies are a huge responsibility to take care of at the same time.
American Spectrum Self-Storage Management, LLC, recently added to its self-storage portfolio. This addition doubles the amount of facilities in its portfolio. It is just like giving birth to twins. However, due to the company’s current infrastructure, they feel that they can take the addition in stride.
“We feel that we are uniquely suited to serve the needs of this self-storage portfolio. Our specific experience managing similar properties and the size of our portfolio – specifically in Texas – is a natural fit for a seamless transition,” says CEO William Carden. “We are honored to be awarded this management assignment and look forward to implementing some positive changes to achieve the same success we’ve experienced with our current storage portfolio.”
The 19 self storage properties will be marketed under the trademark name of 1st American Storage. These facilities have a combined total of over 1.3 million square feet and 11,000 units. Thes facilities are in seven states.
American Spectrum will evaluate each property looking at the operational and financial aspects. They will provide extensive staff training, streamline operations, and do aggressive marketing for the facilities.
American Spectrum took over a similar portfolio in 2010. Their evaluation of those facilities gave them insights into ways that things could be improved. Even though it was a down economy at the time, the portfolio saw a 28% increase in occupancy and a 13% growth in revenue. They expect to see good results from their new acquisition.
The company now has 2.9 million square feet with 66% of the new assets located in Texas. This makes American Spectrum one of the largest self storage management companies in Houston.
American Spectrum Self-Storage Management, LLC, is a storage management company that has 20 facilities with over 11,000 units and 1.7 million square feet. Their headquarters are in Houston and have been a publicly traded company since 2001.
American Spectrum has a proven track record of success. They grow revenue, lower operating costs, increase occupancy, and improve the overall value of the asset. They expect to do the same for their newest additions to their family.
“American Spectrum Awarded Property Management Assignment of a Large Self-Storage Portfolio. Yahoo Finance; 23 April 2013.
New Management Assignment of 19 Storage Properties. 1st American Storage.