The year 2023 has been a significant one for Absolute Storage Management (Absolute), one of the largest private, third-party self-storage management companies in the United States. The company’s 2022 same-store pool, consisting of 80 stabilized properties, has shown promising growth, with a 2.4% increase in same-store revenue compared to the same period in 2022. Additionally, the period ended with an impressive 88% unit occupancy and a 2.2% increase in rent per occupied unit. These results reflect Absolute’s commitment to excellence in service and strategic improvements across its portfolio of managed self-storage facilities.
In addition to the 2022 same-store pool, Absolute’s 2019 same-store pool, consisting of 47 stabilized properties, has also shown remarkable growth. The revenue for this pool has increased by an impressive 32.9% compared to the same period in 2019, and the annualized revenue per square foot has reached an all-time high, up 38% from September 2019 to September 2023. This positive trend demonstrates Absolute’s ability to adapt to evolving market conditions and implement effective strategic improvements across its managed properties.
Absolute’s proactive approach to adapting to market conditions is evident in the implementation of various strategic improvements, such as the establishment of an internal sales center to reduce hold times and provide efficient service to customers. The company has also enhanced its property website layout to offer a more intuitive and user-friendly experience, while also implementing an expanded insurance coverage program for tenants.
It is worth noting that Absolute actively manages 145 properties in 18 states, and has added twenty-three new stores to its third-party management portfolio year to date. This growth is a testament to the company’s commitment to developing successful partnerships with customers, team members, and investors, and delivering excellence in service.
Absolute Storage Management was founded in 2002 and has since become a leading name in the self-storage management industry. With headquarters in Memphis, TN, and regional offices in Tampa, FL; Atlanta, GA; and Charlotte, NC, the company is dedicated to providing top-notch management services to its clients while fostering a culture of excellence within its organization.
Overall, the impressive growth and strategic improvements demonstrated by Absolute Storage Management in 2023 underscore the company’s position as a leader in the self-storage management industry. With a strong focus on delivering exceptional service and adapting to market conditions, Absolute is set to continue its success in the years to come.
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