Storage Pros Management LLC recently purchased a Vanguard Self Storage facility in Old Hickory, a suburb of Nashville, Tennessee. The new facility is their third in that area and it will be rebranded as Storage Pros Old Hickory.
David Levenfeld, President and CEO of Storage Pros Management, commented, “We see significant opportunity by adding this facility to the Storage Pros family. It had been operated as a stand-alone property, and will now benefit from the revenue maximization, marketing and expense control facets of the Storage Pros operating platform. We are especially pleased to grow our footprint in the growing Nashville MSA (metropolitan statistical area).”
The facility has approximately 40,000 square feet of storage. Since many of the facility’s customers camp nearby and participate in water sports on the Old Hickory Lake, the facility has 135 spaces for recreational vehicles under a covered parking structure. Many customers store their boats, jet skis, motor homes, and campers there.
Through strategic planning, Storage Pros Management regularly adds to its portfolio. In 2013, they acquired seven self storage facilities. Those facilities were located in Florida, Massachusetts, Michigan, and Tennessee. The purchase of the facility in Florida was significant because at that time Florida was a new market area for them.
In 2012, they purchased four facilities. Their new facility in New Hampshire was the company’s first one in that state. Storage Pros launched a capital improvement program to upgrade all of their recent purchases and to rebrand them to the Storage Pros Self Storage trade name.
Storage Pros now owns 49 facilities and manages 56 facilities in six states. The facilities are in Massachusetts, Michigan, Tennessee, Florida, New Hampshire, and Rhode Island. They have more than 3.3 million square feet of self storage space and more than 28,500 storage units.
Founded in 2007, Storage Pros Management specializes in the acquisition, development, improvement, and management of self-storage facilities. Their primary focus is on buying and re-positioning existing self storage facilities that have “value-added” opportunities to improve the facility’s operations and physical condition.
They also provide third-party self storage property management services to facilities in the eastern United States. They hire new staff, handle marketing, coordinate repairs and improvements, and provide reports and updates to the facility’s upper management.