Self-Storage Management Firms Report 1Q 2017 Financial Results

Self-storage management companies Absolute Storage Management (ASM) and Sentry Self Storage Management have released their first-quarter 2017 operating results. Both firms showed improvements in same-store revenue over last year.

Update 5/31/17 – Absolute Storage Management (ASM), a self-storage owner and property-management firm, announced operating results for the first quarter of 2017. The company increased same-store revenue by 6.9 percent and same-store rent per occupied unit by 6.3 percent compared to the same period last year. Occupancy at its 59 same-store pool was 85.9 percent as of March 31, according to a press release.

ASM gained four management contracts during the quarter. The facilities are Capital Boulevard Storage in Raleigh, N.C.; Killian Hill Storage in Lilburn, Ga.; Magnolia Self Storage in Sanford, Fla.; and Walton Security Storage in Monroe, Ga. The company also maintained management of Main Street Climate Storage in Chattanooga, Tenn., and Commerce Storage in Commerce, Ga., during property-ownership transfers, the release stated.

Founded in 2002, ASM operates 92 properties in 13 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.


5/11/17 Sentry Self Storage Management, an industry management and consulting firm, has released its first-quarter 2017 operating results showing year-over-year improvement in revenue, net operating income (NOI) and occupancy. The company reported revenue growth of 7.1 percent and a 1.3 percent increase in property expenses, which resulted in a 9.1 percent increase in NOI compared to the same period in 2016.

Occupancy at Sentry operated self-storage properties was 90.2 percent, an increase of 40 basis points compared to the same quarter of 2016.

The company added one new management contract during the quarter for a self-storage property in Tampa, Fla. It also has development activity in Deerfield Beach and Hollywood, Fla.

Based in Coral Springs, Fla., and founded in 1997, Sentry owns or manages 26 properties comprising more than 2.2 million net rentable square feet. Its services include consulting, development, feasibility studies, acquisitions, renovations and facility management.

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