Update 3/30/16 – Storage Asset Management Inc. (SAM), a property-management and consulting firm serving the self-storage industry, has also released the operating-performance results of the facilities it managed in 2015. SAM managed 48 self-storage properties in 13 eastern states last year.
For the year, same-store revenue increased 8.4 percent and net-operating income grew 10.1 percent, according to a press release. Occupancy grew 1.7 percent during the year. In total, SAM collected more than $18.3 million in rent from its portfolio of more than 2.7 million square feet, a 17 percent year-over-year increase.
Company officials attributed the performance results to the staff training and customized marketing and operating plans implemented at each location.
Since the beginning of the year, SAM has signed seven new management contracts in four states, adding Colorado to its footprint of managed facilities.
Founded in 2010 and based in York, Pa., the company manages more than 50 self-storage facilities, mostly along the East Coast.
2/12/16 – Self-storage property management firm Absolute Storage Management (ASM) has released its fourth quarter and year-over-year operational results for 2015. As of December, the company’s same-store property pool was comprised of 38 properties.
ASM reported a 9.3 percent same-store revenue growth and 9.7 percent overall growth for 2015. The company signed nine property-management contracts last year, bringing its total count to 88 sites.
“I continue to be impressed with our industry and, in particular, our firm’s leading results. 2015 was another solid year for our sector,” said CEO Michael Haugh. “Looking ahead, I think we are facing some major economic headwinds that will challenge us all over the next couple years. We are, however, optimistic our industry will hold up, barring a huge increase in newly delivered projects, and the best operators will continue to thrive.”
Founded in 2002, ASM owns and manages self-storage facilities throughout the Southeast, operating in 12 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn. The company ranked No. 17 on the 2015 Inside Self-Storage Top-Operators List.