CORAL SPRINGS, Fla. (PRWEB) May 04, 2020
Sentry Self Storage Management has announced operating results for the first quarter, ending on March 31st, 2020.
-Revenue growth of 4%, and a 2% decrease in property expenses, drove Net Operating Income (NOI) to a 6% year over year increase.
-Portfolio occupancy held steady at 88%.
-Third Party Management and Company Owned Facilities portfolio includes 23 facilities containing 1.8M net rentable square feet.
-Sentry Self Storage Hollywood began leasing during the fourth quarter, bringing 83k square feet of climate controlled storage to market, including the very highly desired first floor, drive up, air conditioned unit.
-Expansion is currently in progress at two properties, one located in Boca Raton, Florida, and the other in Tampa, Florida with anticipated completion dates in 2020. Sentry is also in the initial planning phases for a new store in East Boca Raton, Florida. Estimated completion is 2021.
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.