Friday, August 15, 2014

Self Storage Industry Makes Progress in New Executive Appointments

It has been an exciting couple of weeks for those in executive positions in the self storage industry. Facilities all around the country have been shaking things up in management for a bit with new appointments and promotions. The changes signify that the leaders in the self storage industry are committed to making services even better through effective management and leadership.

Just a few short weeks ago Extra Space Storage announced that Diane Olmstead, the co-CEO of W3, would join the Company’s Board of Directors starting January 1, 2014. Ms. Olmstead joined Extra Space Storage with more than 32 years of experience in investing, corporate finance and capital-raising. She received an MBA from Pepperdine University and is also a part of the board of Mercy Housing, Inc. and Synedgen, Inc. and is a member of the Urban Land Institute and the Policy Advisory Board of the Fisher Center for Real Estate and Urban Development. Her addition to the Extra Space Storage team is expected to add to the already robust talent that the company has and further catapult it into new ventures in the self storage industry.

StoreSmart Self Storage also recently experienced a new change in upper management when the company named Todd Allen as a partner. He has been with the company since 2009 as Vice President of Operations and has been an integral part of the company’s success and growth. StoreSmart Self Storage’s recent acquisition of a facility in Fayetville, NC is being heralded as the self storage industry’s first crowdfunded property. With the help of Realty Mogul, an online marketplace for investors, StoreSmart Self Storage raised over $1 million. Executives in the company are very excited about Todd’s new position as partner and view it as a the new step in his already excellent years of service to the company.

StorQuest, which is owned by the William Warren Group, has also made an addition to its team. The company hired Gary Sugarman as the newest principal and chief strategy. The position was recently created as the company made strategic growth plans, which were initiated in 2012 when the Kent Christensen, the former executive vice president and chief financial office for Extra Space was hired.

Moving over to the world of self storage technology, Robert A. Chiti, OpenTech Alliance Inc.’s president and CEO, has been appointed to the board of directors of the national Self Storage Association. OpenTech Alliance Inc. has been sponsoring events in the self storage industry for more than a decade. Chiti, who is responsible for meeting profit goals, overseeing day-to-day operations and strategic planning, brings his more than 25 years of technology and business expertise to the board. The other members of the Self Storage Association are happy to see Chiti on board and value the contribution that he will make as a member of the team.

As the self storage industry continues to move forward, we can expect to see more strategic hires and placements that are aimed at revitalizing the industry to provide further value to self storage customers.


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