StorageMart

Last updated
StorageMart
Industry Self-storage
Founded1999;27 years ago (1999)
FounderGordon Burnam
Headquarters
Columbia, Missouri
,
United States
Number of locations
254
Area served
US, Canada, UK
Key people
Mike Burnam (president)
Cris Burnam (CEO)
Ryan McKenzie (CFO)
OwnerBurnam family
E. Stanley Kroenke, GIC
Cascade Investment, L.L.C.
Subsidiaries Manhattan Mini Storage
PhoneSmart
Website www.storage-mart.com
StorageMart StorageMartMarkham2.jpg
StorageMart

StorageMart, headquartered in Columbia, Missouri, operates over 250 self-storage facilities in the United States, Canada and the UK.

Contents

History

Early history

The company was founded by Gordon Burnam (1931-2017) who had founded Storage Trust, which became a public company in 1994 and was acquired by Public Storage for $600 million in 1999. [1]

StorageMart used 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. [1]

Expansion

In March 2005, the company purchased five properties in Texas. [2]

By May 2005, the company had facilities in 11 states. [3]

In 2007, the company expanded into Canada, and had 70 properties comprising 5 million square feet. [4]

In 2011 and 2012, 640,000 square feet of solar collectors was installed on the roofs of storage locations in Toronto, providing 3 megawatts of power. [5]

In 2009, TKG-StorageMart Canada acquired InStorage 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 and the largest in Canada. [6]

As of 2013, the firm had 132 storage facility locations in the US and Canada. [7]

In 2014, it purchased 31 additional facilities. [8] By 2016 the company had 172 locations. [9]

In 2016, StorageMart acquired Big Box Storage Centres for £100 million. It owned 15 locations in southeastern England comprising 674,756 square feet in 9,655 units. [10]

StorageMart acquired Manhattan Mini Storage in 2021, making it the largest private self storage REIT worldwide. [11]

StorageMart facilities have been featured on shows including Storage Wars and Storage Wars: Canada .

References

  1. 1 2 Lunsford, Darcie (October 29, 2001). "Storage building stands tall in downtown Miami" . American City Business Journals .
  2. ↑ Silva, Tricia Lynn (March 14, 2005). "Mo. company buys five Texas storage centers" . American City Business Journals .
  3. ↑ "StorageMart opens new facility in Helotes" . American City Business Journals . May 23, 2005.
  4. ↑ Marr, Garry (July 12, 2013). "Can't afford Canadian property? Downsize your home, upsize your storage locker" . Financial Post .
  5. ↑ "StorageMart Installs Solar Panels on Toronto Self-Storage Facilities". Inside Self-Storage . October 26, 2011.
  6. ↑ "TKG-StorageMart Buying Canada's InStorage REIT". Inside Self-Storage . January 12, 2009.
  7. ↑ Culp, Mildred (December 9, 2013). "Put toxic vendors in their place before they put you on edge". Las Vegas Review-Journal .
  8. ↑ "StorageMart Acquires 17-Property Self-Storage Portfolio in KS, MO". Inside Self-Storage . November 26, 2014.
  9. ↑ Olberding, Matt. "Lincoln storage facility has new owner". Lincoln Journal Star .
  10. ↑ "StorageMart Expands to UK With £100M Big Box Self Storage Acquisition". Informa . October 21, 2016.
  11. ↑ Sachmechi, Natalie (November 12, 2021). "Manhattan Mini Storage sells for $3B". Crain Communications .
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