Partner

 Steven Medeiros started his first retail business in 1989 at the age of 25. That multimillion-dollar business has grown over the years and is celebrating its 33rd anniversary this year.

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Steve has been investing in and developing commercial and residential properties for over 22 years. In 2005 an opportunity to purchase and develop 10 acres of land in Coventry RI presented itself. Steven, along with his partners, designed, developed and built a 100,000 square foot storage facility on the site. Our goal was to build a “class A” facility. Great design, easy access, with high tech capabilities, clean, secure and safe. We successfully managed the facility with our team for over 10 years. Following an expansion project and after achieving stabilization our NOI and profits increase significantly. This site was successfully sold to a private investment firm out of NY in 2016.

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Steve and his partners were looking for further opportunities and located a 10-acre parcel in Warwick, RI. This parcel has since been developed by us, into a 100,000 square foot cutting edge storage facility. A mix of retail strategies, aggressive marketing, fully automated move in process, intense sales training, clean and easy web site, powerful software and a seasoned management team has resulted in a record 7 months to stabilize and fill the facility to over 90%. We are currently working on an expansion of the site.

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While the Warwick site was being developed Steven and his partners identified a quality acquisition opportunity in West Warwick RI. The site was challenged with, under market rental rates, low occupancy, poor processes, high delinquency, deferred maintenance and general mismanagement. Within 6 months of the takeover by our team, we have updated the site to current aesthetic and technical standards and have successfully tripled the rental income and maintain 95% plus occupancy. We are currently working on an expansion and further updating of the site.

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Steve lives in Cranston RI, with his wife Kerry, and his two sons. Loves boating and skiing.