In August 2019, Cedar Creek Creations LLC took over the management of 150 uni, 14,000 NRSF facility in Central Illinois. At the time, the facility was at 70.9% physically occupancy.
After taking over, we combined some smaller, less desirable units into larger units, eliminating 11 hard to rent units. The facility was rebranded as "Where U-Store-It" and added to our existing U-Store-It website. Tenants Insurance was added to the facility's offerings.
7 months later, occupancy was up to 93.5%. Gross income is up 35%. Ownership is looking to expand the facility.
GA CASE STUDY
In early March 2020, we added a 236 unit, 23,500 NRSF facility in central Georgia. While structurally sound, the facility was physically outdated and undermanaged.
We embarked on a facility makeover! A new paint scheme and exterior fencing were completed. A new lighted sign was added to the facility. An automated gate as well as a new camera system were also installed to enhance security. Several physical changes were made to eliminate the on-site office and implement remote management of the facility . On the operations side, we established an interactive website dedicated to the facility. We added our existing 800 number to all marketing materials. Our trained team was answering the phone every day to meet the clients' needs. Tenant Protection was added for the benefit of our clients.
10 weeks later, it looked like a new facility!
In May 2021, we received an unsolicited offer to sell our Warner Robins facility. We took it! 21% return in 18 months.
So, what is our secret?
An experienced and dedicated full- time team of Storage Specialists.