Storage Asset Management (SAM), a third-party self storage management company hit a milestone of reaching 300 managed storage offices in July. SAM was founded in 2010 with 22 management contracts. Today, SAM manages over 300 storage offices in 32 states, which amounts to over 360 storage locations. SAM does not own any storage facilities. To celebrate the 300 stores milestone, SAM staff completed random acts of kindness in the communities of their corporate office and managed stores. Store managers, district managers, and corporate office employees were all provided with the means to complete a good deed in the community. Celebrating the 300 managed stores milestone with random acts of kindness within the communities aligns with SAM’s focus on making an impact in the communities in which they serve.
In addition to celebrating the store count milestone, SAM was able to achieve excellent results from their managed stores in the first half of 2021. For the first half of 2021, SAM increased same store* revenue by 17.5% and grew net operating income by 22.3% above 2020’s first half of the year results. Although SAM is a private company, it prides itself on delivering results and comparing itself to the REITs.
Alyssa Quill, CEO for SAM, says “We are really proud of the excellent results our team has achieved for our clients. Our proven strategies and hard-working team have increased the number of stores under management, while driving strong numbers for our managed stores. We’re especially proud of the team members who have grown with us, it’s been amazing to watch so many of them take on more responsibilities and become mentors for their peers. We appreciate all our clients in entrusting us to manage their self-storage facilities.”
*SAM’s same-store pool for the period consists of 161 stores that were stabilized by Jan 1, 2020. SAM considers a store to be stabilized once it has been open for three years or has sustained average square foot occupancy of 80.0% or more for one calendar year. If a property reduces in size, it is removed from the same store pool until the beginning of the calendar year at least 12 months from the date of change.
Storage Asset Management is a York, PA based self-storage property management company. SAM is the fifth largest management company in the United States and the largest privately owned management company. For more information, please visit www.storageassetmanagement.com