Monthly Archives: March 2011

Stillwater, MN

Press Release For immediate publication

Storage Investment Management, Inc., (SIMI) announced it’s 4th quarter 2010 operating results for 31self storage facilities owned and contract managed from the mid-Atlantic states to New England.

  • Occupancy grew 242 basis points compared to same quarter last year.
  • Same store sales rose by 3.56% compared to same quarter 2009.
  • Expenses have decreased by 4.41%
  • Net Operating Income (NOI) rose by an incredibly strong 13.15% compared to same quarter last year.
  • YTD same store sales rose 1.33% compared to YTD 2009.
  • ¬†Operating expenses have continued to decrease by 3.7% and NOI rose by 7.29% compared to YTD 2009.

Same store sales increased primarily through a continued reduction in tenant concessions and an increase in occupancy and stronger rates. Net Operating Income increases are attributable to on-going expense reductions along with an increase in revenue.

SIMI is a boutique management company with decades of self storage management experience