StorageMart

StorageMart
Industry Self-storage
Predecessor Storage Trust
Founded 1999
Founder Gordon Burnam
Headquarters Columbia, Missouri
Number of locations
 135
Area served
 US and Canada
Owner Burnam Family
Subsidiaries PhoneSmart
Website StorageMart

StorageMart is a self-storage company with facilities in both the US and Canada.

Company overview

Early history

StorageMart was founded in 1999 and is headquartered in Columbia, Missouri[1] by Gordon Burnam, who had been involved in the self-storage industry since 1974.[2] Prior to founding StorageMart, Burnam founded the storage company Storage Trust, which he took public in 1994. He then sold the company to Public Storage for $600 million in 1999.[3][4] 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.[3]

North American expansion

The demand for self-storage spaces in the US grew over the early part of the 2000s.[5] By 2005 the company had facilities in eleven states, including Texas,[6] where it purchased five properties in March 2005. [7] By 2006 the firm operated sixty facilities across the US.[8]

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".[9] This includes more than three dozen facilities in metropolitan Toronto.[10] In 2011-12 these facilities installed 640,000 square feet of solar collectors on their roofs, providing 3 megawatts of power per year.[11][12] 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.[13][14][15] By 2012 StorageMart had more facilities in Canada than any other self-storage company.[16]

As of 2013 the firm had 132 storage facility locations across the US and Canada.[17] The company also sells moving and packing supplies.[1] 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.[9] 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]

Management

Founder Gordon Burnam and his four children each hold executive positions within the company.[4] Mike Burnam is the company's chief executive officer.[23] The company president is Cris Burnam and CFO is Stephen M. Dulle.[1]

Charity

According to Inside Self-Storage, "StorageMart supports charities in the communities in which it operates, [11]

References

  1. 1 2 3 "Company Overview of TKG StorageMart Partners, LP". Businessweek. Retrieved December 10, 2013.
  2. ↑ "StorageMart Makes Play for Canada's InStorage REIT". Inside Self-Storage. October 21, 2008. Retrieved December 16, 2013.
  3. 1 2 Darcie Lunsford (October 29, 2001). "Storage building stands tall in downtown Miami". South Florida Business Journal. Retrieved December 16, 2013.
  4. 1 2 Bondi Wood (Mar 10, 2007). "COLUMBIA'S PROMINENT BUSINESS FAMILIES". Columbia Business Times.
  5. ↑ Edward M. Eveld (February 9, 2003). "Self-storage Sites Fill Need To Save Face -- And Stuff". Kansas City Star. Retrieved December 16, 2013.
  6. ↑ "StorageMart opens new facility in Helotes". San Antonio Business Journal. May 23, 2005. Retrieved December 16, 2013.
  7. ↑ Tricia Lynn Silva (March 14, 2005). "Mo. company buys five Texas storage centers". San Antonio Business Journal. Retrieved December 16, 2013.
  8. ↑ "One man's trash ... Booming self-storage industry taps into growing American affluence". Columbia Tribune. September 18, 2006. Retrieved December 16, 2013.
  9. 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.
  10. ↑ "TCHC ground-floor space gathers dust for nearly 20 years". Metro International. May 18, 2013. Retrieved December 16, 2013.
  11. 1 2 "StorageMart Installs Solar Panels on Toronto Self-Storage Facilities". Inside Self-Storage. October 26, 2011. Retrieved December 16, 2013.
  12. ↑ Kenneth Walton (October 25, 2011). "StorageMart Turns Self Storage Into Renewable Solar Energy". Zimbio. Retrieved December 16, 2013.
  13. ↑ "TKG-StorageMart Buying Canada's InStorage REIT". Inside Self-Storage. January 12, 2009. Retrieved December 16, 2013.
  14. ↑ JORDAN RAUBOLT (October 18, 2008). "StorageMart bids in Canada". Columbia Tribune. Retrieved December 16, 2013.
  15. ↑ "TKG-StorageMart Group Acquires InStorage REIT". Lexpert Magazine. June 1, 2009. Retrieved December 16, 2013.
  16. ↑ Laura Williams-Tracy (June 2012). "Steady as She Goes" (PDF). SSA Globe. Retrieved December 16, 2013.
  17. ↑ 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.
  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. ↑ http://www.desmoinesregister.com/story/money/business/new-business/2014/05/06/storage-units-des-moines-storagemart-budget-storage/8779215/
  21. ↑ http://www.insideselfstorage.com/news/2014/11/storagemart-acquires-17property-selfstorage-portfolio-in-ks.aspx
  22. ↑ http://journalstar.com/business/local/lincoln-storage-facility-has-new-owner/article_727517f9-def9-597a-8551-6ac0322eb3b2.html
  23. ↑ "Trend towards self-storage warehouse" (in Chinese). World Journal. December 9, 2013. Retrieved December 10, 2013.
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