WINTER GARDEN, Fla., Aug. 24, 2021 /PRNewswire/ -- Store Space Self Storage topped Inside Self Storage's 2021 Notable Increases in Facility Owners list with an 180% increase in total square footage.
"This is an amazing milestone to highlight our growth in just three years," said Rob Consalvo, Store Space COO and President. "By leveraging our partnerships with institutional investors and continuing to provide excellence in our third-party management program, our plans for the coming year could see us double or triple our square footage in 2022."
The rankings, published the first week in August, are part of Inside Self Storage's 2021 Top-Operators List. Store Space increased its overall footprint to 5.7 million sq. ft. and 69 facilities, up from 2 million sq. ft. and 29 facilities in 2020. The Company was highlighted in the report's Square-Footage Milestones section.
"Our strategy since day one has been acquisition of assets in rapid-growth markets to expand our portfolio," Consalvo said. "We've specifically targeted areas with less institutional ownership and lower supply to maximize our growth opportunities."
Store Space also jumped up to 23rd from 49th in the Top 100 Facility Owners list. ISS's annual report ranks the industry's top 100 facility owners and top 50 third-party management companies.
"Our performance, especially during the pandemic, highlights our ability to surpass the REITs in terms of lease-up and year-over-year performance," said Michael Baillargeon, Store Space's Senior Vice President, Operations. "We combine our technology platform and operational expertise to drive occupancy and push rates appropriate to the market."
The report published by ISS includes real estate investment trusts, multi-facility operators and management companies, and ranks them by total rentable square footage. The report offers insight into which companies are in aggressive growth mode, which are holding steady, which are selling or potentially losing contracts.
About Store Space
Store Space is a self-storage operator and third-party management company located in Winter Garden, FL. Store Space has grown rapidly since its founding in 2018 with more than 4 million square feet of storage under management and 1.5 million square feet under contract. The Company fuels growth and value with its experience driven operations, state-of-the-art Storage360 proprietary platform and strategic digital marketing programs.
SOURCE Store Space