Pogoda Companies is pleased to announce the recently closed sale of Budget Self Storage in Battle Creek, Michigan, and the addition of Premium Self Storage to its family of managed properties.
Budget Self Storage, sold by EDA Cassar, LLC, consists of 432 units in 62,550 square feet of rentable space. Mark Floria, Pogoda’s Self Storage Investment Broker, was able to bring in an all-cash, international buyer who was attracted to the property’s potential in this underperforming, high occupancy facility, and was willing to pay a very low cap rate. “This property presented a unique opportunity in that it is a well-occupied, stabilized facility just waiting for improved property management to unleash its potential,” says Floria.
Premium Self Storage, formerly managed by CubeSmart, located at 22901 Industrial Drive West in St. Clair Shores, Michigan, will keep its name while reaping the full benefits of having the Pogoda advantage of management services. “Our revenue management strategies will bolster revenue, drive occupancy and decrease expenses,” says John George, Vice President of Operations. “We are poised and ready to deliver the results for which we are known.”
For more information regarding Budget Self Storage’s transaction, please contact Mark Floria either by phone at 248-420-4612 or by email at MFloria@PogodaCo.com.
For more information regarding Premium Self Storage’s management contract, please contact John George at 248-855-9676.
About Pogoda Companies
Pogoda Companies (PogodaCo.com) is one of Michigan's largest self-storage operators and brokers, and one of the largest in the U.S., with almost 3.0 million square feet of self storage space in both Michigan and Ohio. The firm provides brokerage, management, and investment services to the self storage industry through its Pogoda Group, Inc and Pogoda Management Co. divisions based in Farmington Hills, Mich.