Sentry Self Storage Management Reports Third Quarter 2022 Financial Results
Net Operating Income has increased as compared to the third quarter of 2021.
CORAL SPRINGS, Fla., Oct. 31, 2022 /PRNewswire-PRWeb/ -- Sentry Self Storage Management has announced operating results for the third quarter, ending on September 30th, 2022.
Key Highlights:
- Same store revenue growth measured 20%, and net operating income (NOI) finished with a 22% year over year same store increase.
- Quarter over quarter, revenue grew by 2%, operating expenses increased by 3%, and net operating income increased by 2%.
- Portfolio occupancy held steady at the 90% range.
- Third Party Management and Company Owned facilities portfolio includes 23 facilities containing 1.7M net rentable square feet.
- Expansion is currently in progress at two properties, one located in Boca Raton, Florida, another in Tampa, Florida. Tampa has an anticipated completion date in 2022, while the Boca Raton expansion's anticipated completion date is 2023. Sentry has one facility currently under construction in East Boca Raton, Florida, with an anticipated completion date in 2023. Lastly, Sentry is in the planning phase for one new store located in St. Lucie County, Florida, which also has an anticipated opening date in 2023.
Sentry Self Storage Management 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 additional information, please visit us at http://www.sentry-selfstorage.com or call (954) 228-4611.
Media Contact
Scott McLaughlin, Sentry Self Storage Management, 1 954-341-4940 Ext: 1, [email protected]
SOURCE Sentry Self Storage Management
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