American Spectrum Realty, Inc. (NYSE:AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today that its subsidiary, American Spectrum Management Group, Inc. (“ASMG”), has been awarded the management and leasing of a self-storage facility in Jonesboro, Georgia.
Affordable Self-Storage is a 44,566 SF facility located just south of Atlanta, Georgia in Jonesboro. The property has 279 rentable units and includes amenities such as an on-site management office, video surveillance, 24 hour secured keypad access, drive-up units, exterior lighting, wide driveways, and moving supplies as well as RV, boat and vehicle storage.
This assignment marks the third storage facility to be brought under management within the past month. Darren Kelley, Asset Manager for ASMG’s National Self-Storage Division, says that the division’s commitment to reducing expenses and its ability to improve NOI is what’s catching attention. “Being able to produce consistent, measured results plays a huge factor in the division’s growth,” says Kelley. ASMG goes beyond the management assignment to develop a partnership with our owners in order to foster a long-term relationship. Cost-efficient branding, aggressive marketing strategies, and streamlined operations allows ASMG to bring significant cost savings and increased revenue to third-party clients, resulting in increased value.
ASMG’s self-storage portfolio consists of over 10,000 units in excess of 1.6 million square feet in multiple states. Most of the facilities operate under the 1st American Storage ® brand, which is a registered trademark of American Spectrum Realty, Inc. 1st American Storage ® is a brand that represents value, integrity, and customer service within the industry. For more information on our National Self-Storage Division, visit www.1stAmericanStorage.com.American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interest in office, industrial, self-storage, retail properties, multi-family, and student housing properties throughout the United States. The company has been publicly traded since 2001. American Spectrum Management Group, Inc. is a subsidiary of American Spectrum Realty, Inc. and manages/leases all properties owned by the Company as well as a significant number of third-party clients.
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