BUFFALO—Illustrating the strength in the sector, locally based Sovran Self Storage Inc. said first-quarter funds from operations was up 16.7% over the year prior. The self-storage REIT, which operates nearly 500 facilities nationwide under the Uncle Bob’s Self-Storage brand, had an 18.9% year-over-year increase in NOI for the quarter that ended March 31.

“We had a strongfirst quarter,” says CEO David Rogers. “Our marketing and pricing strategies continue to attract customers who tend to stay with us for the long haul, and as a result we experienced fewer move-outs than we have in recent winters. This enabled us to maintain high occupancies throughout the slow leasing season, and it set us up well for the busy months to come.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.