Sovran Self Storage Inc., a self-storage real estate investment trust (REIT), and Uncle Bobs Management LLC, the companys fully owned subsidiary, entered into a third-party management agreement with Storage Bin Self Storage Centers. The agreement covers three properties in New Jersey totaling more than 298,000 net rentable square feet.
"I'm delighted with our new partnership with Uncle Bob's Management, said Horace Murph Long, president of Storage Bin Self Storage Centers. As a mid-size operator, I lack the effective toolbox the Uncle Bobs brand offers, specifically the technology, capital and people required to manage an in-house call center, revenue-management program, and a strong Internet marketing presence.
The storage facilities will be re-branded as Uncle Bobs Self Storage and integrated into the companys management platform, allowing them to take full advantage of the companys Internet advertising, website functionality and national call center.
The addition of these properties allows us to expand our footprint into New Jersey and adds to the 25 properties already being managed under our joint-venture agreements, said Jack Rogers, vice president of business development.
Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT in the business of acquiring and managing self-storage facilities. The company operates 380 self-storage facilities in 25 states under the name Uncle Bobs Self Storage.