Storage Asset Management (SAM) is proud to announce the operating results of their managed properties in 2015. As a mid-sized and privately held third party management company focused on growth, SAM holds themselves to very high standards and expectations. In 2015, SAM managed 48 properties in thirteen states in the eastern part of the United States. Each year, SAM compares their results to those of 4 publicly traded self storage REITS; CubeSmart, Extra Space Storage, Sovran Self Storage (Uncle Bob’s), and Public Storage.
Those four companies release their “Same Store” operating results to their investors and the public. To understand the results, we need to understand what “Same Store” means in the storage industry. Some companies exhibit growth in revenue by opening new stores. Some companies exhibit growth by making more money from the “mature” stores they already own. The same-store sales information points out the difference. An increase in same-store sales, from mature (no longer in lease up) properties only, may indicate that existing customers are spending more with the company or demand is increasing, bringing up occupancy.