Section 2 • Industry Ownership


Operators Survey, is shown in Table 2.9a on page 28 and Ta- ble 2.9b on page 29. As in previous years, it is based on total net rentable square feet.


When looking at the top operators


in the self-storage industry there are a few facts to consider. While some companies both own facilities and manage properties for other operators, there are some who only own facilities and others who do not


own stores but rather only conduct third-party management.


As previously discussed, the public companies hold the


top six positions on the list. By rentable square footage, all six companies hold the same position on the list as in 2019. As seen in Charts 2.7 and 2.8, the public companies hold 19.5 percent of the industry’s market share by number of facilities and 31.2 percent by rentable square footage. This is up from 17.5 and 27.62 percent, respectively.


The remaining top 94 self-storage companies own a 9.6


percent market share by number of facilities and 16.5 percent share by rentable square footage. This is an increase over the 10.9 percent reported in 2019. In addition, the rest of the in- dustry holds 70.9 percent of the market share by number of


facilities and 52.3 percent of the market share by rentable square footage. This represents an increase of 0.72 percent over the past year by number of facilities or an increase of 0.68 percent when calculated by rentable square footage.


This year’s Top Operators list includes 19 companies that


were not on last year’s list. The biggest decline for compa- nies who remained on the list was experienced by World Class Holdings dba Great Value Storage; the company ranked 11th in 2019 and dropped to No. 21 this year. Merit Hill Capital joins the list for the first time this year at No. 16—the highest ranking among the new entries. Storage Rentals of America premiers on the list at No. 19.


When looking at the top operators in the self-storage


industry there are a few facts to consider. While some com- panies both own facilities and manage properties for other operators, there are some who only own facilities and others who do not own stores but rather only conduct third-party management.


Table 2.10 and Chart 2.9 on page 31 shows the top 10 self-


storage operators that own facilities and DO NOT perform any third-party management by number of facilities. W.P. Carey leads the pack with 189 owned facilities after holding the third position in this category last year. StorageMart, last year’s leader among owned-only companies, is ranked num- ber two for 2020 with 157 owned facilities.


Merit Hill Capital, new to the top operators list, is ranked


fourth among companies that only own their facilities. Like- wise, Storage Rentals of America, a company that also joined the Top Operators list in 2020 at No. 16, is the third largest self- storage company that owns facilities and does not incorporate


30 Self-Storage Almanac 2021


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