Third Quarter (Q3) Results for Absolute Storage Management

MEMPHIS, Tennessee – Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months and year-to-date ending September 30, 2024.

2024 Highlights for Three Month Period Ending September 30, 2024:

• Increased same-store revenue by 2% vs. the same period in 2023. 
• Acquired four (4) management contracts: one (1) operating facility and three (3) facilities at the completion of construction.

2024 Highlights for Nine Month Period Ending September 30, 2024:

• Increased same-store revenue by 1.6% vs. the same period in 2023.
• Ended the period with 86.7% Unit Occupancy.
• Reduced vacates by 1.7% vs. the same period in 2023.
• Added fourteen (14) stores to the third-party management portfolio.

Absolute’s 2024 same-store pool consists of 91 stabilized properties managed since January 1, 2023. The average size of these properties is 62,600 rentable square feet, and these properties have been managed by Absolute for an average of eight and a half years. The group comprises over 42,000 units and over 5.7 million square feet.

Absolute’s team expanded this quarter with the introduction of a Learning and Development Manager, a new role within the company. This addition highlights Absolute’s commitment to employee growth and development, ensuring the highest quality of service for its clients.

Absolute actively manages 145 properties in 14 states, adding fourteen (14) stores to the third-party management portfolio year to date. Over the three-month quarter ending September 30, 2024, Absolute gained management of the following properties: The Storage Plance in Niceville, FL; Canton Hwy Storage in Ball Ground, GA; Long Beach Self Storage in Southport, NC; and Absolute Storage of Munford in Atoka, TN.

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 Tampa, FL; Atlanta, GA; and Charlotte, NC. 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 AboutASM.com. Contact Jasmin Jones at jasmin.jones@absolutemgmt.com.