US Storage Centers and Iron Gate Storage today announced the formation of Westport NW Management, LLC, a strategic partnership created to develop and acquire storage facilities in the Oregon and Washington markets.
Westport Northwest is a joint venture between US Storage Centers and Iron Gate Storage that builds on an existing portfolio of properties located in the Pacific Northwest. The current portfolio includes six locations, with a seventh currently in development.
“I’m excited about this new partnership and the professionalism and experience that US Storage Centers adds to this venture,” said Glen Aronson, President and CEO of Iron Gate Properties. “In addition to our newest property in development, we have an acquisition pipeline filled for 2014 and 2015.”
Mr. Aronson’s primary focus will involve working on new acquisitions and development. US Storage Centers will be responsible for management, marketing of the portfolio, and development and acquisitions.
“Combining the success, experience and resources of US Storage Centers with one of the best regional operators in the Northwest will produce exciting results,” said Charles Byerly, President and CEO at US Storage Centers. “Glen brings regional expertise, relationships, and experience in getting deals done. Our goals for the future of self-storage in the Pacific Northwest were in alignment from the beginning, and the strengths of both companies complement each other in a way that will advance our vision for Iron Gate Properties.”
Additionally, the partnership will enable the expansion of third-party services into the market.
Dave King, Director of Business Development at US Storage Centers said: “One of the many benefits we provide for our third-party management clients is the ability to reach an operational scale through a larger platform such as revenue management or larger marketing budgets. We believe that, with the additional goal to expand its third-party management services to local operators in the Oregon and Washington markets, many operators in the Pacific Northwest will benefit from our platform.”
US Storage Centers has been a leading operator in the storage industry for nearly 30 years. It has experienced double digit growth in its third party management division since 2009 and is now one of the largest operators in the country.
About US Storage Centers
US Storage Centers owns, operates, or manages over 75 self-storage facilities across the country in a total of 12 states – with a concentration of locations in the California, Arizona, Nevada, Texas, Tennessee, Florida, Georgia, Maryland, Massachusetts, Colorado, and now Oregon and Washington. They plan to expand their operations in each of these areas within the coming year. With more than 50% of their portfolio as owned assets, US Storage Centers takes the approach of managing every facility with the same focus in which they manage their own locations.
About Iron Gate Properties
Iron Gate Properties opened its first self-storage facility in 1989, located in Vancouver, WA. The property, affectionately referred to as Cascade Park, was a newly renovated facility. Today Iron Gate Properties owns and operates four additional facilities located in Vancouver, Washington and one facility in Beaverton, Oregon, which consist of approximately 400,000 square feet of buildings. As the premier self-storage company in the Pacific Northwest, Iron Gate Properties embraces its small business roots and entrepreneurial spirit.