Absolute Storage Management (ASM), a self-storage owner and property-management firm, has announced its operating results for the first quarter, which ended on March 31. The company increased same-store revenue by 18.3% and gross potential income by 21% for the quarter compared to the same period in 2021, according to a press release.
ASM reported it “maintained” square-foot occupancy compared to the first-quarter 2021, which was 90.5%. The company also gained nine management contracts during the quarter. Four are for operating facilities and five are for projects under construction. The properties are Trussville Storage and Annex in Trussville, Alabama; Absolute Storage of Maumelle in North Little Rock, Arkansas; BRB Self Storage in Griffin, Georgia; Commerce Crossing Self Storage in Commerce, Georgia; Matt Highway Storage in Cumming, Georgia; Smart Storage in Kansas City, Missouri; Hub City Storage in Spartanburg, South Carolina; and Tiger Storage in Memphis, Tennessee.
Founded in 2002, ASM operates 137 properties in 16 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, North Carolina.; Jackson, Mississippi; and Nashville, Tennessee.