Woodbridge, New Jersey, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Ryan Blank, a consultant with the Poverni Sheikh Group recently completed another self-storage facility sale. The project, located in Woodbridge, New Jersey, continues to help build the reputation for Blank as a major player in the self-storage industry. He puts work into new deals and brings in funds necessary to get developments to the point of sale in numerous locations on the East Coast of the United States.
This latest self-storage facility is located at 112 New Brunswick Ave. in Woodbridge, New Jersey. With just under 2 acres of land, Blank instantly fell in love with the location, as it sits near numerous residential areas. The facility is 96,600 ft.² of self-storage, with 3700 ft.² of retail opportunity on the ground floor.
Blank continues to work hard on great deals for the Poverni Sheikh Group. With self-storage facilities, customers like convenience so they have easy access to their stuff when they need it most. Many customers settle for self-storage facilities miles away from their homes, but Blank hopes to continually put together projects that close those distance gaps.
This latest sale is an example of Blank putting in incredible effort from the very beginning. After crafting the plans for the project and presenting them to investors, one investor came in and bought the project before completion. This made the final sale easy for both parties on the contingent that everything finished up construction-wise with no hold-ups.
Blank's combination of finding perfect locations and bringing in outside capital has allowed the Poverni Sheikh Group to grow year after year. With self-storage needs on the rise, that’s unlikely to stop anytime soon. There have been some slowdowns with residential and retail locations, but there’s been a steady increase in self-storage space when done correctly.
The goal for Blank moving forward is to continue focusing on location and quality over quantity. It’s better to find one perfect location than have a few different subpar self-storage facilities in lackluster locations not servicing specific needs.
From beginning to end, Blank worked quickly on the Woodbridge, New Jersey project to meet expectations. The equity closing happened in October 2019, and the project acquisition took place in March 2020. Investors witnessed a pretty fast turnaround, as Public Storage sent over a purchase agreement for $23.5 million.
After landing the purchase agreement, it came down to handling the construction the right way. The project remained on budget, even with an occasional hiccup or two that seemed like it could possibly cause delays. Investors made significant amounts of money by putting up funds at the end of 2019 before receiving their return at the beginning of 2022.
Moving forward, Blank hopes to continually lock in on the Mid-Atlantic region of the United States. Density continues to be on the rise, and that means storage units are in demand. Many feel forced to downsize with rising housing costs, meaning that some of their excess stuff must go in cheaper storage units.
With the right knowledge and experience, Blank believes he can give the Poverni Sheikh Group an edge over the competition. He already has experience and knowledge of what it takes to achieve results. He’s been a go-to resource for the Poverni Sheikh Group as they continue to work towards offering more and more self-storage facilities. With Blank on the team, success rates go up.
About Ryan Blank
Working as the man in charge of business development and investor relations, Ryan Blank has helped the Poverni Sheikh Group grow. He works towards creating capital partnerships for the company, with a particular focus on self-storage. Along with this specific type of real estate, Blank also puts effort into real estate investing on his own.
In his spare time, Blank is a high-level poker player. He’s played in many different professional tournaments in his career. Most notably, he placed in the top to 7% of the field in the Main Event at the World Series of Poker in 2022.
