Sentry Self Storage Management Reports Third Quarter 2019 Financial Results
Net Operating Income and Occupancy have both increased as compared to the third quarter of 2018.
CORAL SPRINGS, Fla., Oct. 31, 2019 /PRNewswire-PRWeb/ -- Sentry Self Storage Management has announced operating results for the third quarter ended September 30, 2019.
Key Highlights:
- Revenue growth of 4% and a 5% decrease in property expenses drove Net Operating Income ("NOI") to increase by 9% year over year.
- Occupancy at the end of the third quarter was 89%, which is an increase of 340 basis points quarter over quarter.
- Third Party Management and Company Owned facilities portfolio includes 23 facilities containing 1.7M net rentable square feet.
- Sentry Self Storage's newest flagship property, Sentry Hollywood, is poised to open in the fourth quarter, bringing 83k of climate controlled storage to market.
- Expansion is in process at two properties; Boca Raton, Florida, and Tampa, Florida with anticipated completion dates in 2020.
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) 228-4611.
SOURCE Sentry Self Storage Management
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