September 29, 2014
Storage Investment Management, Inc. (S.I.M.I.), a privately held self storage management company, as a 3rd party manager, operates 28 self storage facilities in the northeastern US. Collectively, all 28 self storage properties have averaged an increase in Same Store Sales of 9.48 percent 2nd quarter 2013 over the previous 2nd quarter 2012. Net Operating Income for this period jumped by 13.67 percent. SIMI attributes the increase mainly to an increase of 595 basis points in occupancy over the same period in 2012.
Revenue up 4.73% over same 2nd qtr 2013 and NOI up 9.11%.