US Storage Centers Announces First Acquisition in Nevada
US Storage Centers (USSC) announced its first acquisition in Nevada with the purchase of a self storage facility located in Las Vegas at 6380 Annie Oakley Drive. Immediately prior to the sale, the company provided third-party management of the property beginning in August of 2014.
“We continue to be very competitive in the acquisition of self storage assets despite increased competition in the marketplace,” said Charles Byerly, president and chief executive officer. “This success can be attributed in part to our ability to transition assets onto our platform, increase leads, and effectively manage rental rates and expenses.”
The facility boasts 68,593 rentable square feet of space, 11,088 of which consist of covered parking for RV, boat, and vehicle storage. There are 508 storage units spread out over two floors, and 44% of the units are air cooled.
“Having managed this property, we were comfortable making our initial ownership play into this market,” said Mark McGilvray, executive vice president. “USSC has made operational gains with on-site management, collections, and in-place effective rents at this location, and we expect to see additional increases in these areas with the continued implementation of our advanced operations and marketing platforms.