Focus on the REIT’s Part IV: Sovran Self Storage
Our fourth and final focus on the REITs series brings us to Sovran Self Storage, Inc. Sovran Self Storage, Inc. was founded in 1982. Their headquarters are in Buffalo, New York. Sovran is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that acquires and manages self storage properties. Sovran owns and/or operates 400+ self storage facilities which makes up over 30 million square feet. They are one of the biggest self-storage companies in the US.
Sovran manages its portfolio of self storage facilities under the trade name Uncle Bob’s Self Storage®. They are proud to serve 200,000 plus customers in 25 states. They focus on innovative marketing practices as well as product development. They also provide “value-added products and services like Dri-guard, their state-of-the art dehumidification system; Uncle Bob’s rental trucks; and a national Customer Care Center featuring a fully integrated sales and reservation system for the Company’s rental spaces.”
The Management side of their business focuses on:
Investment Options. Uncle Bob’s investment options are customized to your needs. These include fee-based Management, Joint Venture and Equity Partner options.
Revenue Management. Their revenue management system, “Revenue Management Model (RM) is aimed at understanding, anticipating, and influencing customer behavior in order to maximize revenues. We take it to a new level in self-storage with an RM team made up of the sharpest analysts in the business utilizing cutting edge systems.” Find the value you are looking for in your self storage properties.
Sales Channels. Their sales plan takes advantage of every sales opportunity, whether it be online, a walk-in or a phone call. “Call, click, and visit sales channels are constantly fine-tuned to optimize opportunities to capture customers,” says Edward Killeen, Executive Vice President, Real Estate Management.
Controls & Reporting. Uncle Bob’s uses “proprietary accounting and finance control systems that centralize data and allow real-time updates for services such as online payments and online reservations. The accounting team is made up of more than 20 professionals overseen by two CPAs who have a combined 20 years experience with a focus on self storage.” They have professionals constantly overseeing the financial aspects of your facility along with daily audits.
Additional Benefits. Uncle Bob’s also focuses on acquiring the best of the best employees, having one of the best training programs in the industry, as well as a state-of-the-art performance management program.
“Uncle Bob’s Management enables you to tap the power of the Uncle Bob’s Self Storage brand along with all of our competitive advantages,” says Ken Myszka, President.
For more information on Sovran Self Storage and Uncle Bob’s Management visit their website
Source: Sovran Self Storage, Inc.