American Spectrum’s Self-Storage Management Portfolio Now Extends into Georgia
HOUSTON--(BUSINESS WIRE)-- 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 ASMGs National Self-Storage Division, says that the divisions commitment to reducing expenses and its ability to improve NOI is whats catching attention. Being able to produce consistent, measured results plays a huge factor in the divisions 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.
ASMGs 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.
ASMG provides first-class management and leasing services for office, industrial, retail, self-storage, student housing, and multi-family properties, totaling over 11 million square feet in multiple states. For more information on what ASMG can do for your properties, visit www.asrmanagement.com or call 888-315-2776.
Certain matters discussed in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including the risks and uncertainties of acquiring, owning, operating and disposing of real estate. Such risks and uncertainties are disclosed in the Companys past and current filings with the U.S. Securities and Exchange Commission.
American Spectrum Realty, Inc.
Bill McGrath, CCIM, 713-706-6200
Senior VP of Operations
Source: American Spectrum Realty, Inc.Copyright Business Wire 2012