For the second time, Leitbox Storage Partners LLC has made a commitment to technology to bolster its competitive edge. Today, Leitbox Storage Partners announces the acquisition of a leading automated, remote-management firm Remote Management Solutions (“RMS”). RMS utilizes cutting edge technology to remotely manage self-storage assets, coupled with a comprehensive revenue management system capability and a full suite of self-storage audit tools.
Since 2017, Leitbox has been at the forefront of integrating advanced technology into its site selection efforts. The creation of Leitbox Sitefinder was a game-changer in the industry, utilizing a comprehensive demographic suite of metrics to identify superior self-storage locations. This innovative approach originated from 25+ years of retail development experience through Leitbox’s related affiliate, Merchants Retail Partners LLC, a firm owned by management and Protective Life Insurance Corporation, Inc. Retail tenants, whether anchor, restaurants, or fashion, rely on detailed and robust psychographic and demographic data that was not present in the self-storage sector in 2017. Site selection was driven by a base set of standard demographic information. Leitbox Sitefinder incorporates demographic metrics not typically used by self-storage operators, such as sales volumes of nearby retailers. Leitbox’s deep-dive site selection strategy has not only differentiated it from its competitors, but also led to the sale of 50% of its developments at the certificate of occupancy stage. This success is a testament to Leitbox’s prowess in site selection with Leitbox Sitefinder.
The latest acquisition is a leap forward in Leitbox’s ongoing journey towards fully embracing remotely managed, automated storage management. The acquired company brings with it a seasoned management team, spearheaded by Cindy Ashby, a well-known and respected figure in the industry with 20+ years of experience at National Storage Affiliates and other national players. This acquisition will allow Leitbox to bring its operations and property management in-house.
“As with our retail portfolio, we believe that operations and property management oversight is integrally important. But, self-storage management never worked for our platform given the employee hiring and rollover challenges. Now, with technology and automation, Leitbox can beter drive its business plans. All this while reducing the payroll burden. We have seen Public Storage and others gain profit margin, and with this acquisition, we will intend to do the same by reducing a material expense burden – payroll”, said Bill Leitner, Founder and CEO of Leitbox Storage Partners.
RMS is unique in its multi-prong abilities. In conjunction with its remote management ability, RMS also brings a full suite of high-tech revenue management and expense management. Additionally, the RMS team has conducted property audits throughout the United States over the last twenty (20) years. RMS is led by Cindy Ashby. Cindy and her entire team will be joining Leitbox; Cindy will be Managing Director of Leitbox’s Portfolio Operations.
About Leitbox Storage Partners
Leitbox Storage Partners (“Leitbox”) is a real estate investment company that develops and acquires self-storage (often with mixed use & retail integration) in primary and secondary markets throughout the United States. In addition to programmatic, greenfield development of vertical self-storage, Leitbox utilizes its 30+ year history in the retail and mixed-use sectors to identify and acquire retail, big-box conversion opportunities and income-producing, storage facilities presenting value-add upside potential.
Contact
Angela Darden
adarden@merchantsretail.com
