Who’s Who In Self-Storage: Andrew Capranos, 10 Federal Storage

Andrew Capranos doesn’t stay idle for long. The Toronto, Ont., native has always been driven, and it’s helped propel him through every chapter of his professional career. Today, he leads 10 Federal Storage, one of the most technologically advanced and fastest-growing self-storage companies in the U.S., and one of the largest operators of fully automated facilities in the country. Getting there, however, took some bold decisions, strategic maneuvers, and relentless energy.

“I was born in Canada,” says Capranos, who lived there until his family relocated to the U.S. His father, an executive with a large home textile manufacturer, was offered a leadership position in Florida. “We came down on an L1A work visa, which allows international companies to transfer key leaders to their stateside operations,” Capranos recalls. “It was supposed to be temporary—but for me, it became permanent.”

From an early age, Capranos was eager to take initiative. “When I was 13, I applied to be a dishwasher at an Italian restaurant,” he says. “The owner made me bring my dad in to make sure he wasn’t forcing me to get a job.” In high school, that same work ethic flourished. As student body president, he launched several initiatives that are still in place today.

Capranos went on to attend the University of Central Florida, where his ambition quickly distinguished him. He founded the school’s first chapter of Sigma Pi fraternity, thrived academically, and secured a spot in Target Corporation’s executive internship program—ranked among the top in the country. He performed so well that he received a full-time job offer nearly a year before graduation. “It was pretty cool being a senior and already knowing you had a great job lined up,” he says.

That same drive was tested when a required course wasn’t offered in time to keep him on track. “At one of the largest universities in the country, I convinced the dean to create a class just for me,” Capranos says. “I was the only student.” He earned an A and graduated on time. It was a defining moment that encapsulated his mindset: When the path isn’t clear, create your own.

On Target

With degree in hand, Capranos launched his career at Target. “They are a machine when it comes to training and development,” he says. “They give you real leadership tools early, and I was learning a ton.”

He started in talent acquisition and later moved into logistics and operations. “I became fascinated by how complex systems could be streamlined.” Eventually, he was managing a team and producing strong results in one of the company’s most challenging stores.

But as time went on, his desire for something different grew. “The amount of labor that goes into day-to-day operations is insane,” he says. “You can drive a lot of top-line revenue, but it all goes out the door in expenses. At the end of the day, you’re squeezing by with single-digit margins.”

Just as that desire began to grow, a new opportunity presented itself.

Going Public

Like many in the industry, Capranos never expected to find himself in self-storage. But when an executive recruiter from Public Storage reached out, he was intrigued. “They liked my background, and after doing a little research, I liked the business model—low OpEx, strong fundamentals, recession-resistant. I figured I’d give it a shot.”

He was hooked almost immediately. “I wish I’d found it sooner,” he says. “Self-storage is one of the most open and collaborative sectors I’ve worked in. There’s a real willingness across the industry to share ideas, raise the bar, and help it grow.”

Capranos now pays that spirit forward. “I try to give back, whether it’s speaking at conferences, writing for trade publications, or mentoring newcomers in the Self Storage Association’s Young Leaders Group before I age out,” he jokes. “But seriously, sharing what works helps the whole industry move forward.”

Finding 10 Federal

After nearly a decade with Public Storage, another recruiter came calling—this time with a high-level opportunity at a fast-growing company: 10 Federal Storage.

“I wasn’t even looking,” says Capranos. “Public Storage was an incredible place to grow. Working for a large operator like that, you basically earn a second MBA in self-storage.”

Still, the pitch got his attention. 10 Federal was young, well-capitalized, and focused on tech-enabled growth. “It was founded by the Minsley brothers, Cliff and Brad, who are smart, tech-forward entrepreneurs. I was on a great path at Public Storage, but the chance to join a company redefining the industry was too good to pass up. And honestly, I was ready to get out of the Florida heat.”

Capranos brought something 10 Federal needed: deep operational experience in self-storage. Most of the existing team came from multifamily or industrial backgrounds. “Self-storage is its own animal,” he explains. “Different economics, different customer expectations, and very different communication strategies.”

He immediately set to work, revamping operations, recruiting talent, and driving growth. Today, 10 Federal manages more than 100 properties with fewer than 100 employees—an efficiency driven by automation and a culture of performance. The team added 27 properties in 2024 and nearly 20 more in the first half of 2025.

Innovation remains a key focus. “We installed cloud-based cameras, then drones, then curbside rental service,” he says. “We’re always looking ahead.” And while the company had previously avoided third-party management, that’s changing. “We weren’t ready before,” Capranos says. “But now, if it’s the right asset, we’re in. We even brought on a director of data science to help us assess fit.”

Technology is now inseparable from the 10 Federal model. “We’ve been all-in on automation and unmanned operations for 15 years—longer than anyone in the industry,” Capranos says. “Today, we’re also one of the largest operators of fully automated self-storage properties in the country. Now we’ve opened the door to third-party management. And why wouldn’t we? We know what works: security, marketing, ground support, and a tech stack built for consistency and scale. We’re like the McDonald’s of automated storage—consistent customer experience and quality, every time. But ours is powered by automation and driven by data.”

Capranos recounts a recent conversation with a competitor who asked how business was going. “I told him we were doing great—move-ins up, move-outs down, NOI growth over last year.” The competitor, despite recent tech investments, wasn’t seeing the same results. “I explained that no amount of automation can fix a bad acquisition,” he says. “We’ve invested over a million dollars in our pricing model and data science tools. That’s what drives our performance. Everyone sees the front-end automation, but the back-end data work is even more advanced. When we post results, it’s not just because we managed the properties well—it’s because we bought the right ones.”

Looking Ahead

10 Federal shows no signs of slowing down, and Capranos is committed to fueling that momentum. “We’re constantly evolving,” he says. “I like to say we’re constructively dissatisfied at all times. We don’t rest on laurels. We don’t follow the status quo. We’re always looking to go bigger and do better.”

With the company’s rapid growth and Capranos’ international roots, could Canadian expansion be on the horizon? “Nothing is off the table,” he says. While acknowledging recent political tensions between the U.S. and Canada, Capranos brings a unique perspective, with roots in both countries. “I’m proud to be an American—and I’m also proud to be Canadian,” he says with a smile. “I’ve got a soft spot for each, and honestly, we’re better off when we work together. Ultimately, we’re a commercial real estate company. We’ll go where the returns are.”

And if the returns happen to be north of the border?

“Well, more hockey’s never a bad thing,” he says with a laugh.

Thinking Outside The Box

These days, 10 Federal seeks out prime self storage locations, but when the company was just getting started, a few facilities were located in higher crime areas. This posed a challenge for unmanned facilities, which could be a target for thieves. “It was difficult catching someone in the act without the levels of security we have now,” says Capranos. “So we started thinking outside the box.”

This sometimes meant putting something inside a box. “We actually put trackers in some Playstation sets, and placed them in vacant units. Then we’d stage the unit to make them look inviting to thieves, securing it with nothing but a cheap luggage lock that could easily be cut.”

The ruse has worked a number of times with thieves taking the bait. “Our off-site security gets a notification that one of tracked items has moved and they immediately alert the police. This has resulted in a number of apprehensions—and one high-speed chase with law enforcement!”

Although 10 Federal now has much more advanced methods of security, Capranos says they still occasionally stage units in this manner. “Anything to catch the bad guys,” he says.

Brad Hadfield is MSM's lead writer and website manager