Bee Safe Storage and Wine Cellar owner Roy E. Carroll II intends to create a property-management firm to handle the day-to-day operation of his growing self-storage business. Based in Greensboro, N.C., Bee Safe currently has three facilities in operation, but has 25 projects in various stages of development stretching from the Washington, D.C., area to Florida and into Texas, according to the source. Carroll believes the company could have 25 new locations by the end of the year and envisions a portfolio of 33 facilities.
Parent company The Carroll Cos. currently contracts with a third-party management firm to run Bee Safe, but Carroll’s new business will include finance and marketing executives along with senior management, he told the source. It will have 30 to 40 employees. “We are really putting gas to our Bee Safe program,” Carroll said. “We are really having to expand our home office to handle the ramp-up.”
Bee Safe facilities typically include climate control and wine storage. In addition to its amenities, Carroll believes the company’s bee logo has resonated with customers and helped to fuel growth. “This is a brand we feel really good about,” Carroll told the source. “The results are very good, and we feel like we’ve got something really exciting with this Bee Safe brand.”
In the region nearest its headquarters, Bee Safe has three facilities under development in the Greensboro market and another in Lexington, S.C. It currently operates two facilities in Greensboro and one in Raleigh, N.C.
Carroll is also founder and CEO of The Carroll Cos., a real estate development firm in business for more than 30 years. The developer has built or has under construction more than 15,000 apartment homes with an asset value of more than $1.4 billion, according to its website. The company has more than $500 million invested in development projects in the Carolinas, Tennessee and Texas.