Sentry Self Storage Management Reports 4Q 2022 Financial Results
March 3, 2023
Sentry Self Storage Management, a third-party management and consulting firm serving the self-storage industry, released financial results for the quarter that ended Dec. 31. The company reported same-store revenue growth of 17%, with net operating income at a 21% year-over-year, same-store increase, according to a press release.
Sentry’s portfolio of 23 managed and owned properties maintained an occupancy in the mid to high 80% range, the release stated.
Expansions remain in progress at two Florida facilities. The Boca Raton site is expected to be complete in the fourth quarter, with Tampa scheduled in the first. Construction is underway for a facility in East Boca Raton, Florida. The company is also in the planning stages for a new location in St. Lucie County, Florida. Both new developments are expected to open this year. Storify Self Storage, managed by Sentry, is opening in Gainesville, Georgia, this month.
Based in Coral Springs, Florida, and founded in 1997, Sentry operates 1.7 million net rentable square feet of self-storage. In addition to consulting and property management, the company offers assistance with acquisitions, development, project feasibility and renovations.
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