Update 8/18/20 – Storage Asset Management (SAM), a property-management and consulting firm for the self-storage industry, has released its operating results for the first half of 2020, showing improvement in same-store revenue and NOI. The company increased same-store revenue for the first six months by 3 percent and same-store NOI by 4.8 percent compared to 2019, according to a press release. Average occupancy grew 1.5 percent compared the first half last year. Expenses across same-store facilities grew .3 percent.
Founded in 2010 and based in York, Pa., SAM oversees 250 storage facilities in 31 states. Its managed portfolio comprises more than 17 million square feet in 123,669 units.
8/11/20 – Sentry Self Storage Management, a third-party management and consulting firm for self-storage operations, has released its second-quarter 2020 operating results, showing year-over-year improvement in revenue and net operating income (NOI). The company reported revenue growth of 5 percent and maintained flat operating expenses, which resulted in a 7 percent increase in NOI compared to the same period in 2019, according to a press release. Occupancy at Sentry-operated properties was 88 percent as of June 30.
Expansions are in progress at two Florida facilities in Boca Raton and Tampa, both slated to be complete this year. Sentry is also in the initial planning phases for a new store in East Boca Raton, which will open next year.
Based in Coral Springs, Fla., and founded in 1997, Sentry owns or manages 24 self-storage facilities comprising more than 1.8 million net rentable square feet. In addition to consulting and property management, the company offers assistance with acquisitions, development, project feasibility and renovations.