Storage Asset Management (SAM), the largest privately owned self-storage third-party management firm, announced its same store* results for the year ending Dec. 31, 2024.
Management Numbers, as of Dec. 31, 2024:
- Ended 2024 with 598 managed self-storage locations, including 168 remotely managed locations
- Employed 964 teammates
- A 10% increase from 2024
- 108 SAM teammates were promoted in 2024
Highlights:
- Grew same store Net Operating Income by 2.3% over 2023
- Achieved a 2.4% increase in same store Revenue Growth over 2023
- Maintained Close Rates over 65% on New Tenant Leads from Website and SAM’s Call Center
- Won the 2024 Inside Self-Storage Best of Business award for Best Manager Training
- Named the Third Largest Operator on the Inside Self-Storage 2024 Top Operators - Management List
- Awarded Top 20 on the 2024 Central Penn Business Journal’s Best Places to Work in PA list
- Named a Certified Welcoming Workplace by the York County Economic Alliance
- Achieved Google Partner status; this provides advanced digital expertise, optimized marketing campaigns, and dedicated Google Ads support for SAM clients.
- Reduced employee turnover at properties by 17%
- SAM’s managed stores collected 21,478 online reviews
- The average rating for these reviews was 4.8 stars
- 252 of SAM’s managed locations were awarded Reputation’s 800 Award; the prestigious recognition is given to locations that set the gold standard in customer satisfaction and brand trust by excelling in review sentiment, social engagement, business listing accuracy, and more.
Comparison to the REITs:
- SAM uses publicly traded companies as a benchmark for comparison.
- SAM outperformed the REITs in NOI growth again in 2024, growing same store NOI by 2.3% over 2023.
- SAM outperformed the REITs in the same store Revenue Growth in 2024, achieving a 2.4% increase in Revenue Growth over 2023.
“These outstanding achievements in 2024 directly reflect our team’s dedication and passion. Every day, they embody our core values, and it shows in these exceptional results,” said Alyssa Quill, SAM CEO.
SAM’s expertise in storage, innovative technology, and adaptability are the key drivers behind these exceptional results. With a highly skilled team that leverages data and technology, SAM consistently makes informed decisions to maximize the long-term value of the properties we manage. Storage Asset Management is a third-party management firm that specializes in self-storage.
*SAM’s same-store pool for the period consists of 286 stores that were stabilized by Jan 1, 2024. SAM considers a store to be stabilized once it has been open for three years or has sustained average square foot occupancy of 80.0% or more for one calendar year. If a property reduces in size, it is removed from the same store pool until the beginning of the calendar year at least 12 months from the date of change.
About SAM
Storage Asset Management (SAM) is a York, PA based self-storage property management company. SAM is the third largest third-party self-storage management company in the United States and the largest privately owned self-storage management company. For more information, please visit www.storageassetmanagement.com