Private equity company Stoic Equity Partners commissioned construction of a self-storage facility in Pensacola, Florida with virtual-only management. This will be a new addition to its "portfolio of StoreEase managed self-storage facilities," says the firm in a press release.
"The property will be third-party managed by StoreEase from Birmingham, AL. StoreEase provides a revolutionary solution to many of the problems in the self-storage industry," Stoic said. "The property will be Virtually Managed using their proprietary virtual management technology which allows customers to interact with a live manager via a Kiosk which provides a superior customer experience even though the facility is unmanned."
Stoic said that it is currently developing and acquiring self-storage and flex industrial properties in the southeast. It already has a number of StoreEase sites. The new location will consist of a 50,000 square foot building and 379 units, some of which will be climate controlled drive-up ones. Presumably it contracts with local firms or individuals to perform whatever maintenance and other work that is needed on the self-storage sites.
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StoreEase claims 37 locations across a dozen states, with five of those already in Florida. Its units are in fenced and gated properties and have 24/7 access, digital video recording, climate-controlled options, Bluetooth locks and gates, clean storage facilities, and carts and dollies for free onsite use. Consumers can purchase moving and packing supplies. Consumer units run from 5×5 to 10×25. Commercial units run from 10×30 to 34×60. There is also vehicle storage.
By working virtually, there is less expense because people are not on site. "StoreEase operational expense ratios range between 23-28% of revenues based on the size of the facility compared to traditional models in the 35-45% range," that company claims.
In addition to saving money, the lack of on-site personnel also should make management easier by not needing to hire, train, and retain personnel in a tight labor market.
Noké One smart access control will manage all doors and locks through phones and an app connecting with Bluetooth without needing keys. "Your customers can also view access activity, share a digital key with employees, family members, or movers, and move-in to a unit whenever they'd like," says Janus International Group, which is the vendor. "Tenants can rent units online, use the app to access the facility and their units and move-in: all without having to come into the office." The company claims that self-storage owners can "capture more rentals by fully automating the move-in process for tenants."
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