10 Federal Fully Automated Self-Storage Facility Achieves 77 New Leases in a Single Month

RALEIGH, N.C., May 3, 2017 /PRNewswire/ -- 10 Federal announced today that its newest, fully automated self-storage facility leased a record 77 units in a single month.  The facility opened on January 30, 2017 at 3802 Angier Avenue, in Durham, NC.  The 77 leases in April exceeded 10 Federal's prior single month record of 48 leases achieved in May 2016 at its 2542 South Alston Avenue fully automated self-storage facility.

10 Federal's fully automated facilities are able to handle all of the leasing functions that would traditionally be conducted by an on-site property manager.  It is able to do so through the use of a combination of various technologies including the Janus International SecurGuard™ Electronic Lock, an Advanced Kiosks kiosk, a PTI Security System Access Control Solution, the StorEdge FMS management software system and other proprietary systems.

Regarding the leasing success, Brad Minsley, Co-Founder of 10 Federal stated, "I am exceedingly proud of our construction and operation teams.  The Angier facility has minimal drive-by traffic, so to achieve this level of success with those limitations is a testament to the quality of the online advertising program that our operations team has implemented as well as the ongoing improvements to the online and kiosk leasing workflow."

The property is comprised of 205 climate controlled and ambient units.  10 Federal's construction company built the facility in eight months.

Regarding the construction, Cliff Minsley, Co-Founder of 10 Federal stated, "I am pleased with our construction team's success on delivering the facility in time for the spring leasing season.  We continued to vertically integrate through the construction disciplines with the Angier Avenue facility which allowed us greater control of the construction process and more flexibility to implement new technologies."

10 Federal is launching a Self-Storage Acquisition & Conversion Fund later this month that will focus solely on acquiring manned facilities and converting them to fully automated, unmanned operations.

10 Federal is a diversified real estate company headquartered in Raleigh, NC.  Through a combination of vertical integration and leveraging technology to improve performance, it is 10 Federal's mission to deliver a superior product to its customers at a superior value to the competition.  10 Federal acquires, develops, constructs and manages multifamily and self-storage properties in North Carolina.

SOURCE 10 Federal

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