Sentry Self Storage Management, an industry management and consulting firm, has released its second-quarter 2017 operating results showing year-over-year improvement in revenue, net operating income (NOI) and occupancy. The company reported revenue growth of 7.2 percent and a 2.2 percent increase in property expenses, which resulted in an 8.2 percent increase in NOI compared to the same period in 2016.
Occupancy at Sentry-operated self-storage properties was 90.2 percent as of June 30, a year-over-year increase of 20 basis points, according to a press release.
The company is expanding two properties in Lakeland and Tampa, Fla. Both are expected to be complete during the third quarter of 2018. The firm also has a site under development in Deerfield Beach, Fla., which will open this year, and another in Hollywood, Fla., slated to open in fall 2018.
Based in Coral Springs, Fla., and founded in 1997, Sentry owns or manages 26 properties comprising more than 2.2 million net rentable square feet. The company’s services include consulting, development, feasibility studies, acquisitions, renovations and facility management.
