Stone Mountain Storage

In June 2014, we acquired Stone Mountain Storage. At the time of purchase, the property was plagued by persistent bad debt, and rental rates were identified as being 10%-15% below the market average. Management invested in enhancing the curb appeal and upgrading the leasing office. These improvements enabled us to increase rental rates by over 40% within three years and reduce bad debt by 55%, resulting in a substantial improvement in Net Operating Income (NOI).