Update 8/20/18 – Absolute Storage Management (ASM), a self-storage owner and property-management firm, announced operating results for the second quarter of 2018. The company increased same-store revenue by 5.1 percent compared to the same period last year. Same-store occupancy increased by 1.5 percent as of June 30, according to a press release.
ASM gained eight management contracts during the quarter. The facilities include Arlington Climate Controlled Storage in Arlington, Tenn.; Eastside Self Storage in Snellville, Ga.; Melrose Storage in Nashville, Tenn.; New Shackle Self Storage in Hendersonville, Tenn.; and Starkville Storage in Starkville, Miss. The company also acquired five facilities at completion of construction.
“We are extremely proud of the efforts of our team members and their commitment to success,” said Jennifer Barnett, chief operations officer. “With occupancy levels at such high percentages, it is no easy task for our team to continue to generate such excellent year-over-year gains.”
Founded in 2002, ASM operates 107 properties in 13 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.
8/14/18 – Sentry Self Storage Management, an industry management and consulting firm, has released its second-quarter 2018 operating results showing year-over-year improvement in revenue, net operating income (NOI) and occupancy. The company reported revenue growth of 4.1 percent and a 2.7 percent increase in property expenses, which resulted in a 4.9 percent increase in NOI compared to the same period in 2017.
Occupancy at Sentry-operated self-storage properties was 90.7 percent as of June 30, a year-over-year increase of 10 basis points, according to a press release.
The company is expanding two properties in Lakeland and Tampa, Fla., which are expected to be complete during the second quarter of 2019. A new development in Hollywood, Fla., is also expected to open during the second quarter next year.
Based in Coral Springs, Fla., and founded in 1997, Sentry owns or manages 27 properties comprising more than 2.3 million net rentable square feet. The company’s services include consulting, development, feasibility studies, acquisitions, renovations and facility management.
