Storelocal is a great fit for our company because we are a small company. We want a presence on the web that is equivalent with the REIT’s, but we cannot get there on our own. We would like to work together with other companies to create a unified presence, and be part of something larger. Storelocal can offer that. Storelocal gives us a chance to pull other companies together to compete for space on the web, providing creditability and consumer awareness.
I believe Store Local will help the founders grow a stronger, bigger voice in our industry. I think that the whole is much more powerful than the individual and the Co-op will prove that. I respect a lot of the companies that were originators of the co-op and the members that have joined after its inception. Store Local was founded by industry veterans that are aware of the problems facing the non-public companies, and in working together they can try to change the industry standard, or in some cases create an industry standard. By acquiring StorageFront, Storelocal has shown that it is trying to make a difference in how facilities are marketed and how reservations are taken on the web. They have also provided a value for its shares by acquiring an income producing asset.
I expect Storelocal to provide standards for our industry and expect that they will acquire more assets that will benefit our industry. While we don’t know where the future will take us, I expect Store Local to be right in the front leading us there.
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We acquired our first facility in 2007 as part of a 1031 exchange. During the next 4 years we purchased 4 additional properties in southern California, located in Fontana, Lancaster, 29 Palms and Yucca Valley. In 2012 we rebranded all 5 facilities as Storage Solution, LLC. We are a small company operating all 5 facilities and are actively looking for additional properties. Although we are currently active only in California, we are open to the idea of expanding out of state. We are members of both the National Self Storage Association as well as the California Self Storage Association.