Extra Space Storage Inc. Reports 2015 First Quarter Results
SALT LAKE CITY, April 29, 2015 /PRNewswire/ -- Extra Space Storage Inc. (NYSE: EXR) (the "Company"), a leading owner and operator of self-storage in the United States, announced operating results for the three months ended March 31, 2015.
Highlights for the three months ended March 31, 2015:
Achieved funds from operations ("FFO") of $0.68 per diluted share. Excluding costs associated with acquisitions and non-cash interest, FFO as adjusted was $0.69 per diluted share, representing a 21.1% increase compared to the same period in 2014.
Increased same-store revenue by 8.3% compared to the same period in 2014.
Increased same-store net operating income ("NOI") by 11.4% compared to...
Self-Storage Design Challenge: Making the Most of a Small Land Parcel
Smaller-sized lots can actually be great self-storage development opportunities. Follow these design guidelines to get the most from your urban project.
Marcus & Millichap Arrange Sale of a 45,828 Square Foot Self Storage Facility- Valdosta, GA
MARCUS & MILLICHAP ARRANGES THE SALE OF
A 45,828- SQUARE FOOT SELF-STORAGE FACILITY
VALDOSTA, GA, April 29, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Perimeter Self Storage, a 45,828-square foot self-storage facility located in Valdosta, GA, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,530,000.
COMPASS SELF STORAGE OPENS STATE-OF-THE-ART SELF STORAGE CENTER IN RIVER GROVE, IL
Cleveland, OH – April 23, 2015 – Compass Self Storage, a member of the Amsdell family of companies, proudly announces the opening of their newest self storage center, located at 3000 N. River Road in River Grove, IL. This brand new, high end self storage center offers over 56,000 net rentable square feet and is located in a former warehouse that was converted into a state-of-the-art; climate controlled self storage center. This is the fifth Compass Self-Storage location that the company has opened since 2015 began.
Construction was just completed on the River Grove self storage center, which offers indoor climate controlled units, digital surveillance, electronic access, online payments and a full line of moving and packing supplies. The company has plans to expand the product offering at the property to also include outdoor, drive up self storage in the near future, as well as truck rental. “We are thrilled to open this brand new, state-of-the-art self storage center in River Grove and believe our exceptional product and top notch service will bring value to the community. We will serve as a convenient, one-stop shop for the moving and storage needs of our customers,” stated Todd Amsdell, President.
The above-mentioned acquisition was made by separate affiliates of Amsdell Group, LLC and Compass Self Storage, LLC. The Amsdell family of companies (Amsdell Companies) is headquartered in Cleveland, OH. Amsdell draws its roots from the family owned construction company founded in 1928 and has since been active in several billions of dollars worth of real estate ventures with a primary focus on self storage. As industry pioneers, Amsdell has owned and operated over 500 storage centers under various trade names in over 27 states. With over 85 years of doing business, the Amsdell team has extensive experience in property acquisition, construction and property management. Please visit www.amsdellcompanies.com and www.compassselfstorage.com for more information.
Amsdell/Compass Self Storage Opens Conversion Project in River Grove, IL
The Amsdell family of companies recently converted the former Fort Lock Corp. property in River Grove, Ill., which has been vacant since 2006, into a 90,000-square-foot storage facility. The 3.5-acre property at 3000 River Road opened this week and will be operated by Compass Self Storage LLC.