StorageMart

Last updated
StorageMart
IndustrySelf-storage
PredecessorStorage Trust
Founded1999
FounderGordon Burnam
Headquarters
Columbia, Missouri
,
United States
Number of locations
254
Area served
US, Canada, UK
OwnerTKG StorageMart Partners LP
Subsidiaries PhoneSmart
Website StorageMart
StorageMart StorageMartMarkham2.jpg
StorageMart

StorageMart is a chain of self-storage facilities headquartered in Columbia, Missouri [1] 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.

Contents

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. [2] [3] 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. [2]

North American expansion

The demand for self-storage spaces in the US grew over the early part of the 2000s. [4] By 2005 the company had facilities in eleven states, including Texas, [5] where it purchased five properties in March 2005. [6] By 2006 the firm operated sixty facilities across the US. [7]

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". [8] This includes more than three dozen facilities in metropolitan Toronto. [9] In 2011-12 these facilities installed 640,000 square feet of solar collectors on their roofs, providing 3 megawatts of power. [10] [11] 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. [12] [13] [14] By 2012 StorageMart had more facilities in Canada than any other self-storage company. [15]

As of 2013 the firm had 132 storage facility locations across the US and Canada. [16] The company also sells moving and packing supplies. [17] By May 2014 it had about 9.8 million square feet of rental space, in a total of 149. faciltieis [18] The average length of stay in its units is 42 months. [8] StorageMart facilities have been featured on shows including Storage Wars and Storage Wars: Canada . [19] In 2014, it purchased 31 additional facilities. [20] [21] By 2016 the company had 172 locations. [22]

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. [23] [24]

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. [25] [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. [27] In 2018, StorageMart began donating $25 per online review they receive to Big Brothers Big Sisters. [28]

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References

  1. ↑ "TKG StorageMart Partners, LP: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 2018-07-26.
  2. 1 2 Darcie Lunsford (October 29, 2001). "Storage building stands tall in downtown Miami". South Florida Business Journal . Retrieved December 16, 2013.
  3. ↑ Bondi Wood (Mar 10, 2007). "COLUMBIA'S PROMINENT BUSINESS FAMILIES". Columbia Business Times. Archived from the original on 2013-12-27. Retrieved 2013-12-26.
  4. ↑ Edward M. Eveld (February 9, 2003). "Self-storage Sites Fill Need To Save Face -- And Stuff". Kansas City Star . Retrieved December 16, 2013.
  5. ↑ "StorageMart opens new facility in Helotes". San Antonio Business Journal . May 23, 2005. Retrieved December 16, 2013.
  6. ↑ Tricia Lynn Silva (March 14, 2005). "Mo. company buys five Texas storage centers". San Antonio Business Journal . Retrieved December 16, 2013.
  7. ↑ "One man's trash ... Booming self-storage industry taps into growing American affluence". Columbia Tribune. September 18, 2006. Archived from the original on 2016-06-10. Retrieved December 16, 2013.
  8. 1 2 Garry Marr (July 12, 2013). "Can't afford Canadian property? Downsize your home, upsize your storage locker". Financial Post . Retrieved December 10, 2013.
  9. ↑ "TCHC ground-floor space gathers dust for nearly 20 years". Metro International. May 18, 2013. Retrieved December 16, 2013.
  10. ↑ "StorageMart Installs Solar Panels on Toronto Self-Storage Facilities". Inside Self-Storage . October 26, 2011.
  11. ↑ Kenneth Walton (October 25, 2011). "StorageMart Turns Self Storage Into Renewable Solar Energy". Zimbio . Retrieved December 16, 2013.
  12. ↑ "TKG-StorageMart Buying Canada's InStorage REIT". Inside Self-Storage . January 12, 2009.
  13. ↑ JORDAN RAUBOLT (October 18, 2008). "StorageMart bids in Canada". Columbia Tribune. Archived from the original on 2012-03-20. Retrieved December 16, 2013.
  14. ↑ "TKG-StorageMart Group Acquires InStorage REIT". Lexpert Magazine. June 1, 2009. Retrieved December 16, 2013.
  15. ↑ Laura Williams-Tracy (June 2012). "Steady as She Goes" (PDF). SSA Globe. Retrieved December 16, 2013.
  16. ↑ Mildred Culp (December 9, 2013). "Put toxic vendors in their place before they put you on edge". Las Vegas Review-Journal . Retrieved December 10, 2013.
  17. ↑ "Company Overview of TKG StorageMart Partners, LP". Businessweek . Archived from the original on October 15, 2012. Retrieved December 10, 2013.
  18. ↑ Justin Willett (May 10, 2014). "StorageMart adds to storage portfolio with purchases". Columbia Daily Tribune.
  19. ↑ "Storage Wars Canada" . Retrieved December 17, 2013.
  20. ↑ [ dead link ]
  21. ↑ "StorageMart Acquires 17-Property Self-Storage Portfolio in KS, MO". Inside Self-Storage . November 26, 2014.
  22. ↑ Olberding, Matt. "Lincoln storage facility has new owner" . Retrieved 30 July 2018.
  23. ↑ "StorageMart Brings Easy Clean Service to UK Self Storage Industry". StorageMart Blog. StorageMart. Retrieved 15 February 2017.
  24. ↑ "StorageMart Announces Entry into European Storage Industry". Commercial Property Executive. Retrieved 15 February 2017.
  25. ↑ "Thank you to a new sponsor – StorageMart | Blair's Tree of Hope Foundation". blairstreeofhope.org. Retrieved 2018-07-26.
  26. ↑ "StorageMart Announces Partnership with Global Giving to Raise $50,000 in Disaster Relief for Hurricane Irma". www.prnewswire.com. Retrieved 2018-07-26.
  27. ↑ "StorageMart Expands into Avon, CO with a new storage facility". www.prnewswire.com. Retrieved 2018-07-26.
  28. ↑ "StorageMart Charity Partner Spotlight: Big Brothers Big Sisters". www.storagemart.com. Retrieved 2021-10-14.
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