People in the state of Texas are proud of their state. You can tell just in how they talk about it and how they react when you go against the popular slogan—Don’t Mess With Texas—and do just that. Another popular slogan is one that executives for one self storage company are hoping rings true: Everything’s bigger in Texas.
That could be translated in a number of different ways. In a literal sense it could refer to the facility filling up with really large items, but that is not the meaning that the company is hoping for here. It is hoping for a busy industry that will result in a high rate of occupancy—and higher profits.
If that is the case than the company’s newest self storage facility will be at or near capacity in no time!
Compass Self Storage has continued its expansion efforts by purchasing a self storage facility in Cedar Hill, Texas. The facility marks the first for the company in Texas, and it plans on spending close to $100,000 to update the facility.
“We look forward to servicing the moving and storage needs of our new customers in Cedar Hill, TX with the acquisition of this self storage center,” said Todd Amsdell, President of Amsdell Companies (parent company for Compass Self Storage).
The facility becomes the 45th self storage facility for a company that has at one time or another owned and operated over 500 facilities.
With the industry performing well investing in self storage properties and building a portfolio is plan that makes sense on a financial basis. Since the majority of the industry is comprised of single facility and small business owners a company with enough financial backing can do well.
In recent months Compass Self Storage has been busy buying properties in several states and expanding Amsdell’s portfolio. The company recently (early April) completed the purchase of a facility in Deptford, New Jersey. Prior to that it purchased one in Acworth, Georgia (March 25) and another in Jacksonville (March 27).
“We are pleased to enter the Jacksonville market and to provide top notch customer service to our new customers in the Jacksonville area,” said Todd Amsdell.
As long as the health of the industry remains relatively where it is it would not be surprising to see Compass Self Storage continue to buy up self storage properties.
“Amsdell Companies Acquires State-Of-The-Art Self Storage Center In Cedar Hill, TX.” PRNewswire; 07 May 2014.
“Amsdell Companies Completes Second Acquisition This Week With Purchase Of Self Storage Center In Jacksonville, FL.” PRNewswire; 28 March 2014.