Store Space Self Storage Announces 2020 Q4 Results
Jan 13, 2021, 10:06 ET
WINTER GARDEN, Fla., Jan. 13, 2021 /PRNewswire/ -- Store Space Self Storage continued to show solid growth during the fourth quarter of 2020, establishing new records for Q4 and year-over-year activity. In Q4, the Company posted a 44% increase in leasing volume compared with Q4 of 2019. The Company also saw a 38% increase in leasing volume in 2020 compared to 2019.
"Our company's success hinges on the hard work of our employees across our footprint," said Rob Consalvo, COO and President of Store Space. "By supporting them with leading-edge technology, we were able to reach new heights despite the challenges presented to us and the industry as a whole from the pandemic and economic downturn."
Touchless Rentals
Touchless Rentals, powered by the Company's proprietary Storage360 Platform, continued strong, accounting for 50% of total leasing activity from October through December. In Q3-Q4 period, Touchless Rentals accounted for 55% of leasing activity. The offering combines the Company's online and by-phone rentals to allow customers to complete their rentals digitally without stopping in the office.
"Across the industry, the need to scale touchless offerings was somewhat of a surprise," said Michael Baillargeon, Senior Vice President, Operations. "Fortunately, we were already ahead of the curve, allowing us to focus on continued growth and ways to increase usability for consumers."
New Stores
The Company also entered into purchase agreements or opened seven facilities during the quarter, bringing its total of owned, operated, or contracted locations to 50 in 15 states. During Q4, the company opened locations in Georgetown, IN, Tampa, FL, Temple Terrace, FL, and a second location in Rochester, NY. Additional facilities in Texas, Florida and Ohio are slated to open in early 2021.
'Storage That Cares'
The Company, whose motto is Storage That Cares, participated in two national charities during Q4. In October, Store Space donated $5 from each unit rental to the Breast Cancer Research Foundation. In November and December, the company's locations served as official donation centers for Toys for Tots.
Store Space is a self-storage operator and third-party management company. Located in Winter Garden, FL, the Company currently owns, has under purchase agreement, and/or operates multiple properties in 15 states. The Company fuels growth and value with their experience driven operations, state-of-the-art Storage360 proprietary platform and strategic digital marketing programs. You can contact us at [email protected] or visit us at https://www.storespace.com.
SOURCE Store Space
