Under the Symbol:
Global Self Storage Signs First Property for New Third-Party Management Platform
Wednesday, October 23, 2019 5:00 PM
NEW YORK, NY / ACCESSWIRE / October 23, 2019 / Global Self Storage, Inc. (NASDAQ:SELF), a real estate investment trust that owns, operates, manages, acquires, develops and redevelops self-storage properties, signed its first self storage client under its new third-party management platform.
The 134,318-leasable square foot property, which will be rebranded as "Global Self Storage," is comprised of 618 climate-controlled and non-climate-controlled units located in Edmond, Oklahoma.
Global Self Storage's experienced and dedicated industry professionals will provide the property owner a comprehensive solution that manages staff, budgets, billing, collections, auctions, rental-rate adjustments, digital marketing, insurance and maintenance - all designed to enhance the self-storage customer experience and maximize performance of the property.
"We look forward to providing a complete management solution with all the benefits of scale," said Mark Winmill, CEO of Global Self Storage. "The self-storage owner chose us because of our peer-leading same-store revenue growth, as well as our ability to lower administrative costs and provide a trusted quality brand."
"Our third-party management platform provides an additional revenue stream and helps expand our brand awareness, but also allows us to build a captive acquisition pipeline," continued Winmill. "We are actively marketing our third-party management platform to developers, single-property self storage operators, and small-portfolio self storage operators, and we believe these discussions may lead to the addition of new properties to our portfolio in 2020."
Over the last several years, Global Self Storage has been generating peer-leading same-store revenue growth as compared to other publicly traded self storage real estate investment trusts. Independent property owners seeking similar results are encouraged to contact the company at 866-536-SELF (7353) to learn more about the new third-party management platform and discover how it can help maximize the value of their storage business.
About Global Self Storage
Global Self Storage is a self-administered and self-managed REIT that owns, operates, manages, acquires, develops and redevelops self-storage properties. The company's self-storage properties are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. Through its wholly owned subsidiaries, it owns, manages, and operates 12 self-storage properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina, and Oklahoma.
For more information, go to ir.globalselfstorage.us or visit the company's customer site at www.globalselfstorage.us. Follow Global Self Storage on Twitter, LinkedIn and Facebook.
Cautionary Note Regarding Forward Looking Statements
Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws including, but not limited to, the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements concerning the company's plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions, and other information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "plans," "intends," "expects," "estimates," "may," "will," "should," "anticipates," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements by the company involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the company, which may cause the company's actual results to be materially different from those expressed or implied by such statements. The company may also make additional forward looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by the company or on its behalf, are also expressly qualified by these cautionary statements. Investors should carefully consider the risks, uncertainties, and other factors, together with all of the other information included in the company's filings with the Securities and Exchange Commission, and similar information. All forward-looking statements, including without limitation, the company's examination of historical operating trends and estimates of future earnings, are based upon the company's current expectations and various assumptions. The company's expectations, beliefs and projections are expressed in good faith, but there can be no assurance that the company's expectations, beliefs and projections will result or be achieved. All forward looking statements apply only as of the date made. The company undertakes no obligation to publicly update or revise forward looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events. The amount, nature, and/or frequency of dividends paid by the company may be changed at any time without notice.
Global Self Storage
Mark C. Winmill, President and CEO
1 (212) 785-0900, ext. 201
CMA Investor Relations
Tel (949) 432-7566
SOURCE: Global Self Storage