Industry Ownership • Section 2
PROs across the U.S. over the next three to five years. On December 2, 2015, NSA reached an all-time high stock price of $16.88.
Other Top Operator Specifics This year has been exceptional for the self-storage industry’s top operators in terms of industry consolidation. In addition, thanks to a significant increase in capital from new private and public storage investors, there was an uptick in ground-up developments and conversion projects across the U.S. In addition, Certificate of Occupancy (CO) deals were on the rise—especially among the REITs—which added to the size of their portfolios.
This year has been exceptional for the self-storage
industry’s top operators in terms of industry consolidation. In addition, thanks to a significant increase in capital from new private and public storage investors,
there was an uptick in ground-up developments and conversion projects across the U.S.
Of the numerous storage deals completed in 2015, the most notable trans-
action involved the previously mentioned sale of 121 SmartStop Self Storage facilities to Extra Space Storage. As part of the $1.29 billion deal, Extra Space also assumed the property management of 43 third-party managed proper- ties. This transaction solidified Extra Space’s place as the second largest self- storage operator in the nation and, at the same time, purged SmartStop, which was ranked number seven in 2014, from the 2015 Top Operators list.
As seen in Table 2.3, notable changes in the 2015 list include the addition of
several newcomers: iStorage, All Storage, Safeguard Self Storage, RHW Capital Management Group, and Rosewood Property Company. Making exceptional jumps in their position on the list are the Amsdell Companies (Compass Self Storage), Self Storage Management Company, and Argus Professional Self Storage Management.
While Table 2.3 indicates the overall top operators in terms
of rentable square footage, there are several other interest- ing aspects of the list. For instance, while the Mini-Storage Mes- senger 2015 Top Operators List is based on the rentable square footage of all companies, things definitely change when looking at those who own facilities without managing any third-party properties.
As seen in Table 2.4, if we look at the top 10 operators that do
not participate in any third-party management, while Public Stor- age is still at the top of the list, the other 9 operators show a dra- matic change. NSA, the sixth largest operator, jumps to second place. Likewise, W. P. Carey jumps from the eighth position to the third, with StorageMart moving from ninth to fourth, and Ams- dell Companies from 19th to sixth. Baco Realty, Brundage man- agement, and Platinum Storage all move up within the top 10 as does newcomer All Storage, moving from 17th to 10th. If we look
Table 2.6 – Top 10 Third-Party Management Companies by Rentable Square Footage*
Rank Company 1
2 3
Storage Asset Management, Inc.
Argus Professional Storage Management Professional Self Storage Management, LLC
4 StoragePRO Management Co. 5
Self Storage Consulting Group
6 SKS Management, LLC 7 8 9
Net Rentable Sq. Ft. 2,972,851
2,477,391 2,395,803 2,363,280 2,243,283 1,854,524
Cox's Armored Mini Storage Management, Inc. 1,425,678 Storage Investment Management, Inc. Donald Jones Consulting & Service
10 RPM Storage Management LLC * These companies do not own any facilities
1,160,560 821,499 370,635
2016 Self-Storage Almanac 33
Table 2.4 – Top 10 Companies Owned Only by Number of Facilities*
Rank Company 1 Public Storage
2 National Storage Affiliates Trust 3 W. P. Carey, Inc. 4 StorageMart 5
Safeguard Self Storage
6 Amsdell Companies dba Compass Self Storage
7 Baco Realty dba Security Public Storage 8 9
Brundage Management Co., Inc. dba A-AAAKey Mini Storage Platinum Storage Group
10 All Storage * These companies do not manage any third-party properties
Table 2.5 – Top 10 Companies Owned Only by Rentable Square Footage*
Rank Company 1 Public Storage
2 National Storage Affiliates Trust 3 W. P. Carey, Inc. 4 StorageMart 5 All Storage
6 Amsdell Companies dba Compass Self Storage Safeguard Self Storage
7 8
9
Brundage Management Co., Inc. dba A-AAAKey Mini Storage Platinum Storage Group
10 Baco Realty dba Security Public Storage 3,575,000 * These companies do not manage any third-party properties
157,000,000 15,700,000 13,429,064 11,114,651 4,341,713
3,856,497 3,685,614
3,680,000 3,600,617
45
45 45 36
2,466 275 207 164 68
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