Section 2 • Industry Ownership


Table 2.7 – Top 10 Third-Party Management Companies by Number of Facilities*


Company


Argus Professional Storage Management Professional Self Storage Management, LLC Storage Asset Management, Inc. StoragePRO Management Co. Self Storage Consulting Group Donald Jones Consulting & Service Storage Investment Management, Inc. SKS Management, LLC


Cox's Armored Mini Storage Management, Inc. RPM Storage Management LLC


* These companies do not own any facilities


Table 2.8 – 2015 Total Market Share of the Public Companies


Company Public Storage


Extra Space Storage U-Haul International


Number of Facilites Rentable Sq. Ft. 5.95 3.16 3.17


CubeSmart 1.51 Sovran Self Storage


dba Uncle Bob's Self Storage National Storage Affiliates Trust


1.28 0.10


7.29 4.58 2.13 1.93


1.69 0.73


Market Share


Table 2.9 – Market Share of the Top 100 Companies 2015


Largest Self-Storage Company By Number of Facilities


By Rentable Square Footage


Market Share of Top 10 Companies By Number of Facilities


By Rentable Square Footage


Market Share of Top 25 Companies By Number of Facilities


By Rentable Square Footage


Market Share of Top 50 Companies By Number of Facilities


By Rentable Square Footage


Market Share of Top 100 Companies By Number of Facilities


By Rentable Square Footage Source: MiniCo Publishing


34 Self-Storage Almanac 2016


Public Storage 5.95% 7.29%


14.96% 20.52%


16.53% 23.54%


17.72% 26.48%


18.95% 28.74%


60 60 52 43 38 27 25 19 18 9


Tables 2.6 and 2.7 represent those companies within the top


100 that only manage facilities and do not own any. When con- sidered by rentable square footage, Storage Asset Management, Inc., is in the top position although seen as number 30 in the overall list. Numbers one through six all appear within the top 50 on the Mini-Storage Messenger 2015 Top Operators List, while seven, eight, nine, and 10 appear on that list in the 56th, 66th, and 82nd positions, respectively. In the 10th spot on both lists is RPM Storage Management, which fell just short of appearing on the overall top operator list.


Looking at the big picture, demand for self-storage is high and supply is low, resulting in higher rental rates and


occupancies. Given this, the industry is attracting the attention of Wall Street, private equity funds, off-shore investors, and developers from other real estate sectors.


The last comparison of data is the market share of the


2015 Top Operators. Based on 41,443 storage facilities and 2,155,036,000 rentable square feet, Public Storage holds 7.29 percent and 5.95 percent of the market share, as seen in Table 2.8. While Extra Space and U-Haul International have almost the same market share by number of facilities (3.16 and 3.17 respec- tively) Extra Space clearly out paces U-Haul in terms of rentable square footage.


While the market share for National Storage Affiliates Trust is


significantly lower than the other public companies, this is strict- ly due to its being the newest public company in the self-storage industry. These percentages will no doubt increase significantly over the next few years.


As seen in Table 2.9 and Chart 2.4, the top 10 companies hold


a market share of 14.96 percent by number of facilities. Alterna- tively, as seen in Chart 2.5, the same 10 companies hold a share of 20.52 percent by rentable square footage.


Clearly, according to the data, the top 10 self-storage op-


erators contribute a disproportionate amount of the supply of facilities and rentable square feet in the market. Further, the amount each operator contributes toward total market share diminishes significantly as the statistics continues to the smaller


at that same 10 owned-only group, positions on the list change for several storage operators when ranked by rentable square footage.


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