CORAL SPRINGS, Fla. (PRWEB) May 09, 2018
Sentry Self Storage Management has announced operating results for the first quarter ended March 31, 2018.
- Revenue growth of 5.0% and a 1.9% increase in property expenses drove Net Operating Income (“NOI”) to increase by 7.2% year over year.
- Occupancy at the end of the first quarter was 90.5%, which is an increase of 20 basis points compared to the same quarter of 2017.
- Third Party Management and Company Owned facilities portfolio includes 27 facilities containing over 2.3 million net rentable square feet.
- Expansion is underway at three properties. Tampa and Lakeland Florida both to be completed in Q4 2018 and Grayson Georgia opened May 1, 2018.
- Development and conversion activities include deals in Deerfield Beach, FL which opened in Q1 2018 and Hollywood, FL projected to open in Q1 2019.
Sentry Self Storage was founded in 1997 to provide the self-storage industry with state of-the-art, consumer friendly, secure and convenient locations throughout the United States. We offer a full spectrum of services and a wealth of experience and knowledge to deliver maximum property results. Sentry has its finger on the pulse of the industry, for more information, please visit us at http://www.sentry-selfstorage.com or call (954) 346-2330.