Union Realtime LLC, a technology-services company that specializes in self-storage development data, has partnered with Andover Properties LLC to track monthly occupancy at all Storage King USA facilities. Current and historical data will be added to Union Realtime’s Radius database, launching the platform’s tracking of occupancy figures at the facility level. The company expects to expand the dataset by adding “several” other operators into its reporting network, according to a press release.
Union Realtime is trying to encourage participation from other self-storage operators by limiting access to those who share their information. "Occupancy data will help us and our competitors make informed decisions, which leads to better performance and higher revenues,” said Brian Cohen, president of Andover. “Today is a major step in changing the industry for the better by providing the right incentives for operators like ourselves to share occupancy."
Founded in 2003 and based in New York City, Andover owns or manages 30 self-storage facilities in nine states comprising more than 2 million rentable square feet of storage space in 15,150 units. The firm focuses on the acquisition, development and management of industrial, retail and self-storage facilities, primarily in the North and Southeast.
Union Realtime uses technology solutions to deliver self-storage data and analysis. Among its offerings is Radius, an online tool that tracks market demographics, occupancy and rental rates in addition to new and existing self-storage supply. Its tracking data is updated daily.
