July 2021 – Cypress Ventures Group has acquired property from CHC Addiction Services, a non-profit addiction services agency in Akron Ohio. The property is a storage facility with large units up to 25 x 25 on Kenmore Boulevard in the Kenmore area of Akron and built around 1990. Operation and rental management will be out of our Ellet location with the same software that powers our main location.
Since our purchase in July, we have installed electric to power our new lighting, surveillance and gate system. Our barbed wire fencing has been repaired, secured and painted in the front. At the rear of the property we have added seven foot tall steel wall fencing. Doors were repaired and the locking system has been changed to more secure cylinder locks.
An office was added using a smaller unit facing the street and new roofs and gutters were added to the buildings within weeks of closing. Trees and brush were cut, trimmed and cleared immediately after acquisition along with minor drainage issues. As of October 2021, we have paved the entire facility with asphalt. During this time, we have been leasing up space and stabilizing rates. Current clients are brought in at full rates and legacy tenants rates will be brought in line with new tenant rates by year-end. Leasing has been steadily increasing by drawing customers from our very full Ellet location.
Cypress Kenmore Storage puts us very close to managing 300 doors of living and storage rentals. Cypress Ellet Storage – single family homes and multifamily apartments. For more info and to find out how to invest with us, please email: info@cypressventuresgroup.com
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