The company has approximately 2 million square feet of self-storage space in Michigan and Ohio
July 10, 2019: Farmington hills, Michigan based Pogoda Cos. closed on three Michigan self-storage properties during the first half of the year as part of its growth strategy for the Upper Midwest. The three self storage properties comprise 170,666 net rentable square feet in 1,521 units. All three facilities have been rebranded as National Storage Centers and will undergo renovations. Two are slated for expansion.
The four-story property at 1100 Oakman Blvd. in Detroit comprises 52,470 square feet in 543 units. The former Devon Self-Storage is Pogoda’s first Opportunity Zone investment. The company renovate the property with a new management office and signage, LED lighting, a new roof, and tenant amenities.
The company acquired a former Bloomfield Mini Storage facility at 800 Martin Luther King Blvd. S. The facility comprises 43,156 square feet in 353 units. The renovations include new doors and roofs, LED lighting, a redesigned office, security upgrades including new cameras and gates, new asphalt and landscaping, and upgrades to the county roadway.
The facility located at 5215 Curtis Road in Traverse City is the largest of the three facilities, it comprises 75,040 square feet in 625 units. The company planned to renovate the facility with new fencing and signage, climate-controlled building as well as add boat/RV storage to the site. Future expansion could include up to 25,000 square feet.
“We are what I would call patient, aggressive buyers. We are able to pay all cash, which has separated us from the herd, and are strategically selecting stores that complement our existing portfolio in Michigan and Ohio. We are educated buyers with many years of self-storage experience and are willing to sit back and wait if necessary. This has allowed us to pick up properties that were priced much higher just months ago.” Said by Adam Pogoda
Pogoda Cos. is a self-storage operator with approximately 2 million square feet of self-storage space in Michigan and Ohio. The firm also provides brokerage, consulting, investment and management services to the self-storage industry through Pogoda Group Inc. and Pogoda Management Co.