Welcome To Next Century Self Storage
Next Century Self Storage was founded to invest in traditional self storage facilities and create value by implementing revenue optimization strategies and operational efficiencies driven by the adoption of state-of-the-art PropTech.
The next paradigm shift is the management of self storage facilities in the Virtually Managed or Remote operating model. Enabled by recent advancements in PropTech, the Virtually Managed operating model provides customers with a more pleasant, streamlined rental experience and owners/investors with high operating margins and more control over operations via professional management and centralized decision making. By replacing outdated on-site offices and staffing models with centralized, automated systems, including a professional, e-commerce enabled website and self-storage focused call center, we aim to eliminate inefficiencies and deliver a superior customer experience
Our Approach
Next Century Self Storage was founded to invest in small - medium sized, traditional, drive-up, suburban self storage facilities and create value by implementing revenue optimization strategies and operational efficiencies driven by the adoption of state-of-the-art PropTech.Our approach to self storage investment includes the following key tenets:
- Investing in well-located, undermanaged facilities
- Replace on-site property managers with Virtual Management Counters staffed by well-trained, US-based Virtual Managers
- Implementing state-of-the-art SEO strategies to drive traffic to the facility’s website, the primary point of sale
- Upgrading gate access and unit access by installing Bluetooth-enabled gate access technology and DaVinci overlocks, which can be unlocked by tenants immediately upon their accounts becoming current
- Implementing low cost/high ROI technologies that power the "Virtually Managed" operating model and drive efficiency and profitability
- Drive sales through our Virtual Management Counter, e-commerce enabled website, and call center
TARGET PROPERTY PROFILE
Geography
- Initially targeting the eastern United States and Texas
- Suburban, infill locations with projected population growth
- Balanced supply/demand dynamics and limited new supply pipeline
- Easily accessible to local residential and business community
- • Demographic trends favor the Southeastern states and Texas
- • As NEW supply is focused on urban locations, suburban markets offer better risk adjusted returns vs urban locations
- • Expansion possibilities, a large driver of value creation, are greater in suburban locations
Facility Type
- Small - Medium sized facilities (25,000sf – 100,000sf)
- Traditional, drive-up facilities
- Existing facilities with existing cash flow
- Undermanaged properties that present value-add opportunities
- • Inefficient to operate under traditional operating models
- • Under the radar screen for public REITs and most institutional investors
Value-add Opportunities
- Mark-to-Market of below market rate rents
- Expansion opportunities
- Operating expense savings
- Unit mix optimization
- Out-of-service units
