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10 Federal launches acquisition fund to expand self-storage facility automation
10 Federal is in business since 2010

December 4, 2016: Based in Raleigh, NC, 10 Federal acquires, develops and manages multi-family and self-storage properties in North Carolina, plans to launch an acquisition fund in 2017 with the intent to buy and convert traditional self-storage facilities in the Southeast to full automation.

10 Federal has two storage facilities in Durham and one each in Graham and Hillsborough. Integrating technology into its operation is a core tenet of the business, according to the company website.

The Durham facility initially operated with staff for a year, producing 35 rentals during its best month. Following its move to automation, the property rented 48 units during the first month, the release stated. The unmanned properties use a combination of various technologies including access control from PTI Security Systems, automated kiosks from Advanced Kiosks, electronic locks from Janus International Group LLC, management software from StorEDGE and other proprietary systems.

10 Federal has used automation in its other real estate interests, including multi-family properties, and built the 15,600-square-foot Graham facility to be automated from the beginning. “We feel it is where the industry is going,” co-founder Brad Minsley told a source earlier this year. “When the North Carolina DMV manages to start using kiosks and making their process unmanned, you pretty much know self-storage should be there, too.”