European self-storage operator Euro Mini Storage plans to expand its operations in the Bucharest, Romania, area, according to an interview with Managing Partner Danu Temelie published in The Diplomat, a monthly magazine.
According to the interview, Euro Mini Storage will now bid on new facilities or land after investing 150,000 euros (about $196,350) in the expansion of its current location in Bucharest. Temelie reported the current facility had an occupancy of about 90 percent before the addition and now is in the 60 percent range. The minimum rental period is 30 days, and the average stay is about nine months. The tenants are a mix of private individuals and small companies.
As it happened in every business and every area, 2011 was a challenging year," Temelie said. "While being in full recession, we had to become more creative, to find revenue and work aggressively at cutting unnecessary expenses. Considering that, a new service such as self-storage was at the bottom of their list; therefore, we had to fight hard even to become noticed. We developed special offers and special prices.
Euro Mini Storage currently operates a facility in Bucharest and another in Budapest, Hungary.