City Storage acquired an existing 29,000 SF self-storage facility in Chattanooga, TN illustrative of the company’s value-add strategy.The poorly managed circa mid-1990’s facility suffered from years of neglect for repairs and capital improvements, and lacked the features and benefits necessary to complete in the current market.The site allowed for expansion of a new climate controlled building and doubling of recreational vehicle parking spaces; each benefit now viable in response to market demand.City Storage acquired the asset below appraisal value, immediately installed a professional management team, and commenced a comprehensive restoration plan which included;

• a new leasing and retail sales office
• new storage unit doors and refreshed exterior finishes
• state-of-the-art access control and video surveillance system
• a new climate control building with drive-up climate control units and covered loading and staging areas; features not found in the competitive market