Same-Store NOI Growth of 5.0% Marks 14th Consecutive Quarter of Outperformance Versus Public REIT Peer Group
COLUMBIA, Mo., Aug. 12, 2026 (GLOBE NEWSWIRE) — StorageMart and Manhattan Mini Storage, the largest privately held company in the self storage industry, today announced strong operating results for the second quarter of 2026.
Healthy growth in asking rental rates helped drive same-store revenue growth of 4.2% for the quarter. At the same time, expense growth continued to moderate, with same-store operating expenses increasing 2.2%. The combination resulted in same-store net operating income (NOI) growth of 5.0% for the quarter.
Cris Burnam, CEO of StorageMart, said the results mark the 14th consecutive quarter in which StorageMart has outpaced the average same-store NOI growth of the publicly traded self-storage REIT peer group.
“Our diversification strategy continues to pay off,” said Burnam. “Our Midwestern and Northeastern portfolios performed particularly well during the second quarter and helped drive another quarter of strong same-store NOI growth. The Sunbelt continues to be a lag, but the strength and geographic diversity of our overall portfolio have allowed us to continue delivering solid results.”
Burnam added that the company remains focused on increasing rental rates, maintaining disciplined expense management, and using its geographic diversification to generate consistent long-term performance.
About StorageMart and Manhattan Mini Storage:
StorageMart and Manhattan Mini Storage is the largest privately held company in the self storage industry with over $10 billion in assets under management, $8.5 billion of owned assets, 30 million square feet of storage space, and 370+ facilities worldwide. The company operates self storage properties throughout the United States, Canada, and the United Kingdom. For more information visit: https://www.storage-mart.com/self-storage-management.
Contact:
Herby Bowman
[email protected]
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