Self-Storage Management Firm ASM Reports 2Q 2022 Financial Results

Absolute Storage Management (ASM), a self-storage owner and property-management firm, has announced its operating results for the second quarter, which ended on June 30. The company increased same-store revenue by 17.7% for the quarter compared to the same period in 2021, according to a press release.

ASM gained 12 management contracts during the quarter. Nine are for operating facilities, two are for projects under construction, and one as a result of receivership. The properties are Arrington Storage in Arrington, Tennessee; Asheville Mini Storage in Asheville, North Carolina; Augusta’s Best Storage in Augusta, Georgia; Eau Gallie Self Storage in Melbourne, Florida; Hernando Self Storage in Hernando, Mississippi; LokStar Self Storage in Madison, Alabama; Main Street Storage in Duncan, South Carolina; MyPlace Self Storage in Mount Dora and Palm Bay, Florida; Northboro Storage in Murfreesboro, Tennessee; One Stop Self Storage in Milwaukee, Wisconsin; and Silo Self Storage in Monroe, Georgia.

The release also included highlights for the first six months of 2022. Overall, ASM increased same-store revenue by 17.7% vs. the same period in 2021, ending the first half of the year with 90% unit occupancy. It also reported a 14.5% increase in gross potential income over the same period last year. Nineteen management contracts have been added to the company’s portfolio.

Founded in 2002, ASM operates 132 properties in 16 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, North Carolina.; Jackson, Mississippi; and Nashville, Tennessee.