February 16, 2009 . . . Investment Real Estate Management LLC
Investment Real Estate Management Announces Positive Growth in 2009 . . .
Investment Real Estate Management announced the Fourth Quarter and Year End operating results for its portfolio of managed self storage properties. Despite the softness in the economy, the self storage properties managed by Investment Real Estate Management were able to achieve positive growth during 2009. Same store revenue at the self storage facilities grew 1.8% over 2008's results, property operating expenses grew 2.1%, and Net Operating Income (NOI) grew 1.7%. While 2009 began the year with negative occupancy growth, the trend turned positive and occupancy was the same as last year by the end of August. At the end of December, same store occupancy was 3.4% higher than it was at the end of 2008. During the fourth quarter, revenue grew 1.8%, expenses decreased by 0.7%, and NOI grew 3.4%. Vice President of Investment Real Estate Management, Alyssa Quill, stated, "We are proud of our facility managers for their extra efforts in 2009. All of the managers working at our self storage facilities increased their marketing efforts, focused on improving collections (decreasing delinquency by 2.0% over last year), and effectively managed rate adjustments. They maintained excellent customer satisfaction, even when many of their customers were going through tough financial times. We really have a great team." Investment Real Estate Management is a full service third-party management company specializing solely in self storage. They currently operate 45 self storage facilities in the Mid-Atlantic and Northeastern states and offer consulting services to self storage owners and operators across the country.
For further information, contact: Alyssa Quill, VP of Operations at 717-779-0804.

January 20, 2009 . . . Investment Real Estate Management LLC
Investment Real Estate Management Adds Area Manager . . . Sean P. Barron was promoted to the position of Area Manager / Trainer for the Investment Real Estate Group of Companies as announced by Alyssa Quill, VP, Investment Real Estate Management. In his new position, he will be responsible for total oversight of several property locations under management. He was also named to the position of Trainer for Property and Relief Managers, as well as handling Training Consulting for the company. Prior to his new position, Barron had been a manager with Investment Real Estate Management in the PA area for several years. In 2008, he was named IREM's Manager of the Year. Before joining IREM, Barron had extensive management and trainer experience in the restaurant industry.

December 7, 2009 . . . Investment Real Estate Group of Companies
Joseph T. Braun was appointed to the position of Controller of the Investment Real Estate Group of Companies (IREGC) by John H. Gilliland, president. As a member of IREGC's Executive Committee, Braun will be responsible for directing and coordinating the overall financial planning, budgeting and forecasting, as well as the execution of strategic goals and action plans for the Group of Companies. Braun will oversee the Accounting and Finance staff, as well as the Human Resources and IT functions within the company. "I look forward to utilizing my past experience and education in furthering the outstanding reputation of IREGC within the Self Storage Industry and to assist the Executive Team in achieving the short and long term goals of IREGC," said Braun. Braun most recently served as Controller / Vice President of Finance for Tell Manufacturing, Inc., a distributor / manufacturer of commercial doors and door hardware with five facilities throughout the US. Prior to that, Braun served in various leadership roles with the Key Automotive Group, Telmar Network Technology, and Turbon International. Braun began his career with BDO Seidman, an international public accounting firm. Braun graduated with a Bachelor of Science degree in Business Administration from LaSalle University and earned a Master of Business Administration degree from York College of Pennsylvania.

December 3, 2009 . . . Investment Real Estate Management LLC
IREM Adds New Management Contract . . . Riverline Self Storage in Cinnaminson, NJ, awarded Investment Real Estate Management, the management contract for their facility. IREM originally managed the start-up of the facility when it opened in 2005. This facility is a two-story climate-controlled building with 242 units, with additional room for expansion.

November 20, 2009 . . . Investment Real Estate Construction LLC
Investment Real Estate Management LLC
The seventh Moove In Self Storage facility in Lancaster County recently opened in Manheim, PA. Showcasing the unique dairy barn design for which Moove In Self Storage is known, the office contains 1200 SF of management and retail space. The first phase of this 79,200 SF single-story self storage facility contains 319 units, including 10,200 SF of climate controlled space. This facility was built on over 10 acres and offers state-of-the-art security, a gated perimeter, and a key-code access gate. Investment Real Estate Construction was responsible for the construction of the project, while Investment Real Estate Management is responsible for managing the operations and marketing of the store. Rod Lockard, Vice President of Construction, remarked, "The site presented many challenges due to adjacent wetlands. Our team worked together to design a facility that met all township and state requirements, while maintaining great curb appeal."

October 29, 2009 . . . Investment Real Estate Construction LLC
Investment Real Estate Construction was awarded the contract for the construction of the final phase of Gap Self Storage located in Gap, PA. This project will add 84 climate controlled units, an updated gate, and a video surveillance system to the facility.

September 11, 2009 . . . Investment Real Estate Management LLC
IREM Managing Newly Constructed Facility . . . Adams Street Self Storage in Manchester, CT, opened its doors in August. The facility is one of the few facilities in the country where you can enter on one major highway, drive through the facility, and exit onto another major highway. This unique parcel of land in the suburbs of Hartford contains a three-story climate controlled building and is flanked by two single-story drive up access buildings on either side, which takes advantage of the galley layout of the property. Adams Street Self Storage contains 572 units and 81,275 SF. This facility also boasts a "customizable storage experience" with optional shelving, lighting, and sizing options. Investment Real Estate Management is managing the operations and marketing of the store. Alyssa Quill, Vice President of Operations, says, "We look forward to a successful lease up with two highly regarded property managers who moved to CT for this new challenge."

September 2, 2009 . . . Investment Real Estate Management LLC
Grand Opening of New Facility in New Jersey . . . AR&C Self Storage, located in Hamilton, NJ, opened its state-of-the-art 67,808 SF three-story climate controlled facility. This unique facility with expansive windows from ceiling to floor to showcase the roll-up self storage doors in the building opened with two of three floors built out. Upon completion AR&C will house 635 units. Additionally, drive-up units are accessible around the perimeter of the first floor. This facility sits in a prime Hamilton, NJ location right along Route 130 adjacent to a Home Depot. Investment Real Estate Management is managing the operations and marketing of the store.

August 26, 2009 . . . Investment Real Estate LLC
Investment Real Estate facilitated the sale of a three-property portfolio in central PA in the Pottstown area. 2nd Attic Self Storage's three locations included a rental office at the main site with two satellite locations for a total of 63,862 SF and 396 units. Occupancy rates were in the 90%+ range at time of sale. The $4,350,000 sale was at an 8 cap and had an assumable loan. "We are seeing self storage facilities with a stabilized occupancy being sought out by buyers in this economy. In fact, values of stabilized properties are holding up relatively well," says John Barry who brokered the transaction between the seller and a first-time self storage buyer.

July 1, 2009 . . . Investment Real Estate LLC
Investment Real Estate LLC sells two facilities in Pennsylvania. In the western part of the state, Investment Real Estate brokered the sale of a 13,950 SF self storage facility in Erie. Affordable Self Storage sold for $420,000 in June 2009. The 2.2 acre site also included land with approvals for an additional 15,000 SF of self storage. Dan Wolf represented both seller and buyer in the transaction. Greentree Self Storage in Mount Joy, PA, near Harrisburg, sold for $675,000. Opening in 2004, the facility consists of two self storage buildings containing 92 units in 9,600 SF and land with approvals for an additional four buildings containing 14,100 SF of self storage. Also, included in the sale were four buildings containing 8,700 SF of office and warehouse space, including the self storage management office. John Gilliland brokered the transaction.

June 23, 2009 . . . Investment Real Estate Management LLC
Investment Real Estate Management, a full-service, third-party Management Company, is expanding their consulting services to independent owners of self storage facilities in the Mid-Atlantic and Northeastern United States. Owners can select from an array of services such as revenue management, operations, marketing, website, maintenance, training, and accounting, where they may not have the expertise or the staff to handle a specific topic. See attached flyer for details. "We have had many requests for this type of service, especially from small operators. We saw the need and wanted to fill this demand," says Alyssa Quill, Vice President of Operations. "Owners can pick and choose exactly what their facility needs to better succeed in their competitive market. This might be a new brochure design, a more effective website with search optimization, and/or appropriate street rates for their area. By utilizing our volume discounts, they can get these precise services in a more cost-effective manner by someone with self storage experience.” High on the list of requests has been the training courses on software, sales, collections, day-to-day operations, auctions and legal issues. Another noted request has been for a complete operations overview with pricing, marketing and sales skills requested by a facility not meeting bank required occupancy goals. Other hot topics deal with websites, since many websites are still first-generation websites created years ago, with no thought to search engine optimization. Investment Real Estate Management can give independent owners the new website platform. Should owners not want to deal with the accounting and paying of bills, IREM’s accounting department can do it for them. Call Alyssa Quill for further information and a custom quote.

June 8, 2009 . . . Investment Real Estate Management LLC
Investment Real Estate Management, LLC, York, PA acquired management contracts for Ample Storage in Woolwich, NJ and Greenbrier Self Storage in Chesapeake, VA. Ample Storage was built in 2008 and has 178 climate controlled and non-climate controlled units, with 25,425 NRSF. Ample’s amenities include a large range of sizes, packing and shipping supplies, and outside parking. Ample prides itself on being a friendly “Neighborhood Storage Solution.” IREM was also awarded Greenbrier Self Storage in Chesapeake, VA. Greenbrier opened in 1997 and has 487 climate controlled and non-climate controlled units, with 60,350 NRSF. Greenbrier offers a resident manager, state-of-the-art security, packing and shipping supplies, a convenient location and office hours seven days a week.

May 27, 2009 . . . Investment Real Estate Management LLC
Investment Real Estate LLC announced the promotion of Julie Lane Purcell to Marketing and Advertising Manager of Investment Real Estate Management. Purcell joined the company in 2007 as Marketing Coordinator and quickly rose to the new position of Marketing and Advertising Manager. “Julie promptly became our go-to person for the creative direction of many projects within the management division and in our other divisions. Her hard work, passion for marketing, and creative ideas became an indispensable part of the Investment Real Estate Group of Companies,” affirmed Alyssa Quill, Vice President of Management for Investment Real Estate. Purcell is responsible for direction of marketing and sales functions for managed facilities, including the development and execution of marketing plans, yellow page management, strategy and deliverables for press releases, advertising, seminars, public relations, electronic and print mailing campaigns, and special event management. Purcell’s current projects include campaign management, such as the “Self Storage is Sexy” campaign, creative direction of national advertising for the Group of Companies and the management and re-design of the corporate and managed facility websites. “I look forward to an exciting and challenging year with our ground-breaking new projects and innovations in the field,” says Purcell.

May 7, 2009 . . . Investment Real Estate Construction LLC
Investment Real Estate Construction LLC expanded its maintenance services to all self storage owners in PA, MD, DE and NJ. It offers building renovation, door, spring & hasp replacement, bollard cover replacing, unit conversions (from small units to large units or large to small units), roof, trim repair and replacements, lighting upgrades, painting, and other repairs / construction needs. Self storage owners know the importance of the condition and appearance of their facilities are a vital aspect of a profitable self storage venture. The best outsourcing solution is from a firm specializing in the self storage business. IREC’s full-time maintenance staff can take the hassles, cost overruns and delays off owner’s lists. Call for a free estimate or consultation. Call Rod Lockard.

April 1 & 2, 2009 . . . Investment Real Estate
Investment Real Estate corporate staff attended the Self Storage Association’s Convention and Expo held in Dallas, TX. Four members were speakers. John H. Gilliland, CEO of The Investment Real Estate Group of Companies, spoke on a panel discussion on “How Do I Grow My Business in This Economic Environment.” John Barry, Vice President of the Brokerage Division led discussions at the Roundtable Session on “Managing Your Commercial Mortgage Backed Security ‘CMBS’ loan”. From the Management Division, Vice President Alyssa Quill spoke at the Roundtable Session on “Maximizing Revenue: The Balancing Act”, while Julie Purcell, Marketing Manager, led the discussion on “Marketing in a Hard Economy”. The Self Storage Association is the non-profit association, which for over thirty years has been the influential watchdog for self storage owners nationwide.

March, 24, 2009 . . . Investment Real Estate Management
The Four Points Hotel in York, PA was the setting for the Annual Manager’s Meeting and Luncheon. Over thirty-five managers from five states attended. Training sessions were held on various topics. John H. Gilliland, CEO, spoke to the managers and corporate staff regarding the self storage industry, the management side of the business and self storage in this economy. Highlighting the day were various awards given the managers, culminating in Sean Barron of Sadsbury Self Storage being named Manager of the Year for 2008.

February, 2009 . . . Investment Real Estate Construction
Investment Real Estate Construction was awarded the contract for the construction of a 43,000 SF self storage project for Moove In Partners on Doe Run Road in Manheim, PA.

January, 2009 . . . Investment Real Estate Construction
Investment Real Estate Construction was awarded the contract for the construction of a 27,000 SF self storage construction project for Providence Self Storage in Phoenixville, PA.

January, 2009 . . . Vice President Named at Brokerage Firm
John H. Gilliland, CEO of The Investment Real Estate Group of Companies, announced the appointment of John E. Barry to the position of Vice President for the self storage brokerage firm.
Barry will be responsible for overseeing the daily operations of the self storage brokerage business, including property sales, due diligence, financial analysis, and feasibility studies.
As part of Barry’s promotion, he became a member of the Executive Committee for The Investment Real Estate Group of Companies. “I look forward to having John’s advice and counsel in the coming years to help with the growth of the brokerage business and expansion of the firm,” replied John Gilliland. Barry joined Investment Real Estate in January 2007 and became a top producer in 2008 with $24 million in closed transactions, in one of the most challenging markets for self storage real estate transactions in recent memory. Previous to employment with IRE, he was in the financial services industry for over nineteen years. For ten years as a bond trader and underwriter, he was involved in over $7 billion of municipal bond issues and served as manager of the municipal bond department of a regional brokerage firm. Most recently, as executive vice president and senior portfolio manager with a Pennsylvania money management firm, he was responsible for over $1 billion in assets under management and led a team of portfolio managers and brokers.
Barry is a member of the Board of Directors of the Pennsylvania Self Storage Association and has been a self storage owner since 1997. A graduate of James Madison University, Harrisonburg, VA, Barry earned a Bachelor’s degree in Finance and Real Estate.

December, 2008 . . . Investment Real Estate brokers Self Storage Sales in Virginia
In an uncertain economy, there were two recent highlights in the self storage business arena. Stabilized properties are selling.

Investment Real Estate handled the transaction between Stor-It Self Storage in Manassas, VA, and Strategic Storage Trust, Inc. (SSTI) of Ladera Ranch, California. Purchase price of the 58,700 SF facility was $4.7 million. The 500-unit facility included 289 climate controlled units, an on-site management office and was 80% occupied at time of sale. The five two-story buildings were built in 1996 and 2000 on 2.3 acres. John Barry of Investment Real Estate handled the transaction between the buyer and the seller. Settlement was December, 2008. This was the third property purchased for the portfolio of SSTI, a publicly registered non-traded REIT.

Stor-It, Manassas, VA

Storage America of Fairfax, VA, was sold to StorageMart of Columbia, MO, for $8.1 million. This 60,984 SF self storage facility was 90+% occupied at time of sale. The 2-story facility with a first floor drive-thru lane contains 453 units, 8 office suites, on-site manager’s office and manager’s apartment. John Barry handled the transaction between the buyer and the seller. Settlement occurred in December, 2008. StorageMart is one of the top 15 self storage operators in America.

October, 2008 . . . Vice President Announced for Investment Real Estate Management, LLC
John H. Gilliland, president of Investment Real Estate Management, LLC (IREM), announced the appointment of Alyssa Quill to the position of Vice President. She will be responsible for the strategic and operational leadership of IREM’s self storage property management business. Quill most recently served as Vice President of Operations for Extra Space Storage, a storage REIT with 650 storage facilities across the US. At Extra Space, Quill was responsible for operations of 90 stores in GA, SC, AL and FL. Before her role in operations at Extra Space, she held positions in the revenue management and finance departments for Extra Space and Storage USA. “I appreciate the opportunities Extra Space provided me during my seven years, and I am delighted to bring that experience to the Investment Real Estate team,” said Quill. “The Investment Real Estate Group of Companies offers a unique and complete package from feasibility and development to operations and brokerage for clients interested in investing in the self storage industry, and I look forward to continuing the path to excellence that has been in progress there.” Quill earned her bachelor’s degree in Actuarial Science at the Pennsylvania State University and worked in the insurance industry for several years before changing her career path to the self storage industry. Gilliland said, “We are very excited that Alyssa will be leading the Management Company into the next phase of our company’s growth. She brings a wealth of self storage knowledge to our firm, which will be utilized to better operate our clients’ stores and increase the value of their self storage portfolios.”