Storage Pros Adds 10 Properties to Third-Party Management Program

Storage Pros Management LLC (https://storageprosmanagement.com/), recently added 10 self storage facilities to its rapidly-expanding third-party management business. The 10 properties include eight in Michigan and two in Indiana, bringing SPM to 51 properties under management, including more than 2,660,000 rentable square feet and 22,700 units and outdoor parking spaces for rent. All 10 new properties are in process of being rebranded to the Storage Pros Self Storage trade name. SPM now has 28 properties under management in Michigan. The two Fort Wayne properties, which utilize SPM’s receivership services, represent SPM’s first entry into the Indiana self storage market. Twenty-one of SPM’s properties are owned, whereas 30 are part of SPM’s third-party management program. Robin Chera, owner of the eight incremental storage facilities in Michigan managed by SPM, commented, “We are very pleased and highly impressed with your team’s total commitment towards offering quality services, as well as thorough and professional training of the staff. We look forward to many years of association with the Storage Pros Management team.” “We are pleased with the steady, profitable growth generated by both new and existing clients”, added CEO David Levenfeld. “We are currently under contract to purchase three additional properties, and plan to expand our platform with strategic, value-add acquisitions as well as additional third-party management contracts.” SPM, founded in 2007, offers comprehensive third-party self storage management services including all operational, accounting and reporting responsibilities, as well as repairs & maintenance, capital improvements and receivership. The platform is focused on improving expense loads and leveraging economies of scale by aggregating multiple assets within each market in which SPM operates. This approach, combined with a focus on revenue management, positions SPM to enhance property valuation. SPM’s third-party client base includes private equity funds, lending institutions and individual investors. For more information on SPM and its third-party management program, please visit https://www.storageprosmanagement.com.