Absolute Storage Management (ASM), a self-storage owner and property-management firm, announced operating results for the third quarter of 2018 that ended Sept. 30. The company increased same-store revenue by 4 percent compared to the same period last year. Same-store occupancy increased by .3 percent versus the same time in 2017, according to a press release.
ASM gained two management contracts of operating facilities and six more following the completion of construction. The facilities include Gatehouse Self Storage in Clayton, N.C.; Highway 31 Storage in Thompson Station, Tenn.; Niceville Loc-N-Stor in Niceville, Fla.; Northshore Storage in Chattanooga, Tenn.; SoBro Storage in Nashville, Tenn.; Toledo Self Storage in Toledo, Ohio; University Storage in Lawrence, Kan.; and The Vault in Rock Hill, S.C.
“We are extremely proud of our team’s performance. Our focus on rate management, and our attention to both local and regional marketing efforts are contributing to our exceptional results,” said CEO Scott Beatty. “We look forward to a successful end of 2018 and a strong start to 2019.”
Founded in 2002, ASM operates 116 properties in 14 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.