NitNeil Partners, the parent company of The Storage Neighbor self-storage brand, ranked No. 34 on Inc. magazines 500|5000 FastestGrowing Private Companies in America list for the second consecutive year. With revenue reaching $4.3 million at the end of 2010, NitNeil experienced 115 percent growth over the last three years, much of it attributed to its self-storage business.
NitNeil continues to grow The Storage Neighbor brand through the acquisition of properties in highgrowth markets throughout the Southeast. Over the past four years, the company has tripled the size of its self-storage portfolio and experienced a steady increase in physical occupancy and rent per square foot. It has 600,000 square feet of self-storage space currently under management.
The down economy has increased the demand for self-storage as many Americans are forced into transition, said Neil Sapra, principal. Furthermore, we have seen an increase in the average length of a rental, suggesting that economic uncertainty has made self-storage a more permanent solution in peoples lives.
NitNeil Partners is a regional investment firm that specializes in the acquisition, development and management of commercial real estate.