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StorageMart is a premier fully-integrated real estate operating company that is focused on developing, acquiring and managing Class A, climate controlled, multi level self storage facilities in first tier urban U.S. markets with strong demand drivers and barriers to entry. The Company's current target markets are Kansas City, Chicago, New York/New Jersey, SE Florida, Atlanta, Minneapolis, Austin TX, San Antonio TX, Oakland/San Francisco CA, and Canada.
StorageMart will seek investment opportunities where they will be able to achieve strong market penetration, benefit from economies of scale, enjoy limited competition and produce exceptional operating margins.
The Company's fully integrated development and acquisition team, combined with their market expertise, superior asset base, in place infrastructure and strong institutional investor support, make StorageMart an ideal platform for continued growth. The Company expects to grow substantially over the next several years through the following combination of investment strategies:
Developing New Facilities.
StorageMart intends to develop self storage facilities in certain markets where there are favorable demographics and where suitable acquisitions are not available. The Company intends to make its decision based on the cost of development versus the cost of acquisition, its demographic market analysis and the existence of barriers to entry.
Converting Commercial Real Estate to Self Storage.
StorageMart has a long history of converting commercial real estate in to self storage where development or acquisition opportunities may not be economically feasible. Conversion can be completed in shorter periods of time and have limited zoning entitlement issues. Additionally, the costs of converting or re-developing self storage facilities can be substantially less than those of acquisition or development. The Company has been recognized by industry groups for its self storage conversion expertise. StorageMart has completed over 900,000 square feet of conversion projects over the past ten years, most notably, the Fonainebleau Hotel in New Orleans, a car dealership and grocery store in Kansas City, four industrial buildings in Chicago and two industrial buildings in Brooklyn, NY.
Acquiring Existing Facilities.
The Company may seek to acquire assets in its target markets if it is economically feasible.
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