Absolute Storage Management (Absolute), a leading private, third-party management company for self-storage facilities in the United States, announced operating results for the three months and year ended December 31, 2022.
2022 Highlights for Three Months Ended December 31, 2022:
• Increased same-store revenue by 6.5% compared to the same period in 2021.
• Acquired six (6) management contracts: five (5) operating facilities and one (1) facility after construction.
2022 Highlights Year Ended December 31, 2022:
• Increased same-store revenue by 13.5% compared to the same period in 2021.
• Acquired thirty-three (33) management contracts: twenty-five (25) operating facilities and eight (8) facilities after construction. Over the three months ending December 31, 2022, Absolute added six (6) total management contracts in the United States. These properties include My Place Self Storage in Fairfield, AL; Brunswick Space Place Self Storage in Brunswick, GA; Midway Climate Controlled Storage in Midway, GA; Safe Space Storage in Gulfport, MS; Lucky Self Storage in Memphis, TN; and My Place Self Storage in Sugar Land, TX. As of quarter end, December 31, 2022, Absolute actively manages 137 properties in 16 states.
As we move through the first quarter of 2023, we are seeing signs of rental activity returning to more normal, pre-covid levels with the winter month’s activity being slower. We are anticipating a strong spring and summer rental season, especially as we enter these months with increased occupancies above the same points in 2019. This strong foundation of occupancy will provide for continued year-over-year revenue growth for our locations.”
CEO Scott Beatty is quoted saying, “We are thrilled with our 2022 results and having achieved double-digit same-store revenue growth for the third consecutive year. These are outstanding results that speak volumes about our team’s commitment to excellence and our dedication to outstanding customer service.” He continues stating, “As we move through the first quarter of 2023, we are seeing signs of rental activity returning to more normal, pre-covid levels with the winter month’s activity being slower. We are anticipating a strong spring and summer rental season, especially as we enter these months with increased occupancies above the same points in 2019. This strong foundation of occupancy will provide for continued year-over-year revenue growth for our locations.”
Absolute Storage Management
Absolute Storage Management (Absolute) is one of the largest private, third-party self-storage management companies in the United States. Founded in 2002, Absolute’s headquarters are in Memphis, TN with regional offices in Atlanta, GA; Charlotte, NC; Tampa, FL; Nashville, TN; and Jackson, MS. The company’s mission is to grow successful partnerships with customers, team members, and investors by delivering excellence in service.
For further information and news about Absolute Storage Management, please go to the Absolute website at www.AboutASM.com
Contact:
Jasmin Jones at jasmin.jones@absolutemgmt.com
