StorageMart
{{Short description|Self-storage facility chain}}
{{Infobox company
| name = StorageMart
| logo =
| logo_caption =
| image =
| image_caption =
| type =
| traded_as =
| industry = Self-storage
| fate =
| predecessor = Storage Trust
| successor =
| foundation = 1999
| founder = Gordon Burnam
| defunct =
| location_city = Columbia, Missouri
| location_country = United States
| locations = 254
| area_served = US, Canada, UK
| key_people =
| products =
| production =
| services =
| revenue =
| operating_income =
| net_income =
| aum =
| assets =
| equity =
| owner = TKG StorageMart Partners LP
| num_employees =
| parent =
| divisions =
| subsid = PhoneSmart
| homepage = [http://www.storage-mart.com/ StorageMart]
}}
StorageMart is a chain of self-storage facilities headquartered in Columbia, Missouri{{cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=135459|title=TKG StorageMart Partners, LP: Private Company Information - Bloomberg|website=www.bloomberg.com|access-date=2018-07-26}} that operates facilities across the United States, Canada and the UK. StorageMart was founded in 1999 by Gordon Burnam, who had been involved in the self-storage industry since 1974.
Burnam's four children each hold executive positions within the company. Mike Burnam is the company's president, Cris Burnam is the CEO, and the CFO is Ryan McKenzie.
Company overview
=Early history=
Prior to founding StorageMart, Gordon Burnam founded the storage company Storage Trust, which he took public in 1994 on the New York Stock Exchange under the ticker SEA. The company operated out of its home office in Columbia, Missouri until it was acquired by Public Storage for $600 million in 1999.{{cite web |url=http://columbiabusinesstimes.com/335/2007/03/10/columbia%E2%80%99s-prominent-business-families/ |title=COLUMBIA’S PROMINENT BUSINESS FAMILIES |date=Mar 10, 2007 |author=Bondi Wood |publisher=Columbia Business Times |access-date=2013-12-26 |archive-url=https://web.archive.org/web/20131227064353/http://columbiabusinesstimes.com/335/2007/03/10/columbia%E2%80%99s-prominent-business-families/ |archive-date=2013-12-27 |url-status=dead }} StorageMart came to public attention in the early 2000s by using non-traditional buildings to house its storage facilities, including the use of a 10-story mid-rise building in Miami, Florida. This allowed the company to open facilities that were easily accessible for urban dwellers, and camouflage these facilities such that they appear to be just another office or residential complex. By the end of 2001 the firm had opened 31 facilities across the US, including both traditional storage units and climate-controlled units capable of housing more perishable or sensitive goods like wine.{{cite news |url=http://www.bizjournals.com/southflorida/stories/2001/10/29/focus6.html?page=all |author=Darcie Lunsford |title=Storage building stands tall in downtown Miami |date=October 29, 2001 |accessdate=December 16, 2013 |newspaper=South Florida Business Journal}}
=North American expansion=
The demand for self-storage spaces in the USA grew over the early part of the 2000s.{{cite news |url=https://www.orlandosentinel.com/2003/02/09/self-storage-sites-fill-need-to-save-face-and-stuff/ |title=Self-storage Sites Fill Need To Save Face -- And Stuff |date=February 9, 2003 |author=Edward M. Eveld |newspaper=Kansas City Star |access-date=December 16, 2013}} By 2005 the company had facilities in eleven states, including Texas,{{cite news |url=http://www.bizjournals.com/sanantonio/stories/2005/05/23/daily1.html |title=StorageMart opens new facility in Helotes |date=May 23, 2005 |accessdate=December 16, 2013 |newspaper=San Antonio Business Journal}} where it purchased five properties in March 2005.{{cite news |url=http://www.bizjournals.com/austin/stories/2005/03/14/daily9.html |date=March 14, 2005 |accessdate=December 16, 2013 |title=Mo. company buys five Texas storage centers |author=Tricia Lynn Silva |newspaper=San Antonio Business Journal}} By 2006 the firm operated sixty facilities across the US.{{cite web |url=http://archive.columbiatribune.com/2006/sep/20060918busi013.asp |title=One man’s trash ... Booming self-storage industry taps into growing American affluence |date=September 18, 2006 |accessdate=December 16, 2013 |publisher=Columbia Tribune |archive-url=https://web.archive.org/web/20160610031022/http://archive.columbiatribune.com/2006/sep/20060918busi013.asp |archive-date=2016-06-10 |url-status=dead }}
In 2007 the company expanded into Canada, and according to Garry Marr of the Financial Post, it "is now one of the dominant players in the country with 70 properties and about 5 million square feet".{{cite news |url=http://business.financialpost.com/2013/12/07/a-new-twist-on-the-rent-vs-buy-debate-a-smaller-home-and-a-rental-storage-unit/ |title=Can’t afford Canadian property? Downsize your home, upsize your storage locker |author=Garry Marr |accessdate=December 10, 2013 |newspaper=Financial Post |date=July 12, 2013}} This includes more than three dozen facilities in metropolitan Toronto.{{cite web |url=http://metronews.ca/news/toronto/600173/tchc-ground-floor-space-gathers-dust-for-nearly-20-years/ |date=May 18, 2013 |accessdate=December 16, 2013 |title=TCHC ground-floor space gathers dust for nearly 20 years |publisher=Metro International}} In 2011-12 these facilities installed 640,000 square feet of solar collectors on their roofs, providing 3 megawatts of power.{{cite news | url=https://www.insideselfstorage.com/suppliers-vendors/storagemart-installs-solar-panels-toronto-self-storage-facilities | title=StorageMart Installs Solar Panels on Toronto Self-Storage Facilities | work=Inside Self-Storage | date=October 26, 2011}}{{cite web |url=http://www.zimbio.com/Solar+Panels/articles/_2x8reYEHc0/StorageMart+Turns+Self+Storage+Renewable+Solar |publisher=Zimbio |accessdate=December 16, 2013 |title=StorageMart Turns Self Storage Into Renewable Solar Energy |author=Kenneth Walton |date=October 25, 2011}} In 2009 TKG-StorageMart Canada took ownership of InStorage Real Estate Investment Trust for about $416 million. This increased the number of storage facilities to 120, making it "one of the largest privately owned storage companies in North America" according to Cris Burnam.{{cite news | url=https://www.insideselfstorage.com/canada/tkg-storagemart-buying-canadas-instorage-reit-0 | title=TKG-StorageMart Buying Canada's InStorage REIT | work=Inside Self-Storage | date=January 12, 2009}}{{cite web |url=http://archive.columbiatribune.com/2008/Oct/20081018News002.asp |title=StorageMart bids in Canada |author=JORDAN RAUBOLT |date=October 18, 2008 |accessdate=December 16, 2013 |publisher=Columbia Tribune |archive-url=https://web.archive.org/web/20120320142239/http://archive.columbiatribune.com/2008/Oct/20081018News002.asp |archive-date=2012-03-20 |url-status=dead }}{{cite web |url=http://www.lexpert.ca/magazine/big-real-estate-deals/tkg-storagemart-group-acquires-instorage-reit-4296/ |publisher=Lexpert Magazine |title=TKG-StorageMart Group Acquires InStorage REIT |date=June 1, 2009 |accessdate=December 16, 2013}} By 2012 StorageMart had more facilities in Canada than any other self-storage company.{{cite web |url=http://www.ssaglobe.org/pdfissues/June2012/SteadyAsSheGoes.pdf |title=Steady as She Goes |date=June 2012 |accessdate=December 16, 2013 |author=Laura Williams-Tracy |publisher=SSA Globe}}
As of 2013 the firm had 132 storage facility locations across the US and Canada.{{cite news |url=http://www.reviewjournal.com/business/business-press/put-toxic-vendors-their-place-they-put-you-edge |date=December 9, 2013 |title=Put toxic vendors in their place before they put you on edge |author=Mildred Culp |accessdate=December 10, 2013 |newspaper=Las Vegas Review-Journal}} The company also sells moving and packing supplies.{{cite magazine|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=135459|archive-url=https://web.archive.org/web/20121015073557/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=135459|url-status=dead|archive-date=October 15, 2012|title=Company Overview of TKG StorageMart Partners, LP|magazine=Businessweek|accessdate=December 10, 2013}} By May 2014 it had about 9.8 million square feet of rental space, in a total of 149. faciltieis {{cite web |url=http://www.columbiatribune.com/business/saturday_business/storagemart-adds-to-storage-portfolio-with-purchases/article_65114418-d7d4-11e3-b6bc-0017a43b2370.html |title=StorageMart adds to storage portfolio with purchases |publisher=Columbia Daily Tribune |author=Justin Willett |date=May 10, 2014}} The average length of stay in its units is 42 months. StorageMart facilities have been featured on shows including Storage Wars and Storage Wars: Canada.{{cite web |url=http://www.oln.ca/shows/storage-wars-canada/page/facilities/ |title=Storage Wars Canada |accessdate=December 17, 2013}} In 2014, it purchased 31 additional facilities.[http://www.desmoinesregister.com/story/money/business/new-business/2014/05/06/storage-units-des-moines-storagemart-budget-storage/8779215/]{{dead link|date=July 2018}}{{cite news | url=https://www.insideselfstorage.com/companies-and-products/storagemart-acquires-17-property-self-storage-portfolio-ks-mo | title=StorageMart Acquires 17-Property Self-Storage Portfolio in KS, MO | work=Inside Self-Storage |date=November 26, 2014}} By 2016 the company had 172 locations.{{cite web|url=http://journalstar.com/business/local/lincoln-storage-facility-has-new-owner/article_727517f9-def9-597a-8551-6ac0322eb3b2.html|title=Lincoln storage facility has new owner|first=Matt |last=Olberding|publisher=|accessdate=30 July 2018}}
Since then, StorageMart has continued to grow, and as of 2021, operates more than 250 locations across the United States, Canada, and the U.K., making up approximately 15,200,000 square feet of rentable space across over 134,000 units.
StorageMart acquired Manhattan Mini Storage in 2021, making it the largest private self storage REIT in the world. As of 2023 StorageMart has over 300 locations.
=Europe=
In 2016, StorageMart acquired 15 locations in southeastern England, formerly owned by Big Box Storage Centre.{{cite web|title=StorageMart Brings Easy Clean Service to UK Self Storage Industry|url=https://www.storage-mart.com/blog/news/storagemart-brings-easy-clean-service-to-uk-self-storage-industry|website=StorageMart Blog|publisher=StorageMart|accessdate=15 February 2017}}{{cite web|title=StorageMart Announces Entry into European Storage Industry|url=https://www.cpexecutive.com/post/storagemart-announces-entry-into-european-storage-industry/|website=Commercial Property Executive|accessdate=15 February 2017}}
Charitable giving
StorageMart is committed to giving back to the many communities it calls home through its Store it Forward program. StorageMart has provided free rent to charities like Blair’s Tree of Hope and partnered with others like Global Giving in 2017 to raise $50,000 in disaster relief for Hurricane Irma.{{cite web|url=http://blairstreeofhope.org/thank-you-to-a-new-sponsor-storage-mart/|archive-url=https://web.archive.org/web/20180727024410/http://blairstreeofhope.org/thank-you-to-a-new-sponsor-storage-mart/|url-status=usurped|archive-date=July 27, 2018|title=Thank you to a new sponsor – StorageMart {{!}} Blair's Tree of Hope Foundation|website=blairstreeofhope.org|language=en-US|access-date=2018-07-26}}{{cite web|url=https://www.prnewswire.com/news-releases/storagemart-announces-partnership-with-global-giving-to-raise-50000-in-disaster-relief-for-hurricane-irma-300520762.html|title=StorageMart Announces Partnership with Global Giving to Raise $50,000 in Disaster Relief for Hurricane Irma|website=www.prnewswire.com|language=en|access-date=2018-07-26}} In 2017 alone, the self-storage company donated more than $159,000 to charities, in addition to donating over $370,000 in free rent to charities throughout the US, Canada, and UK.{{cite web|url=https://www.prnewswire.com/news-releases/storagemart-expands-into-avon-co-with-a-new-storage-facility-300673609.html|title=StorageMart Expands into Avon, CO with a new storage facility|website=www.prnewswire.com|language=en|access-date=2018-07-26}} In 2018, StorageMart began donating $25 per online review they receive to Big Brothers Big Sisters. {{cite web|url=https://www.https://storage-mart.com/blog/storagemart-and-big-brothers-big-sisters|title=StorageMart Charity Partner Spotlight: Big Brothers Big Sisters|website=www.storagemart.com|language=en|access-date=2021-10-14}}
References
{{reflist|2}}