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Occupancy – Portfolio averaging ~77–78% occupied (by units), up YoY, with Ohio leading (~86%) and Mississippi lagging (~66%).Revenue Growth – Core portfolio rental income up ~11% YoY; total revenue boosted by new store additions in AR & MS.Leads & Conversions – Lead volume up across most markets, but conversion efficiency slipped slightly (Ohio: 51% → 47%).Receipts – Increased in line with revenue growth, but impacted at some sites by delinquency and heavy discounting.Ancillary Revenue – Strong insurance sales at most sites; opportunity to increase penetration where rates are low.Accelerate lease-up at low-occupancy locations (several below 50%).Improve conversion rates at sites with high lead volume but low close rates.Reduce delinquency in select markets to strengthen cash flow.Review discount strategy at mature sites to protect effective rental rates.
Benton, AR – ~38.5% occupiedLaurel 12th Ave., MS – ~42% occupiedMagee, MS – ~66% occupied, high delinquency (~27%)Marion, OH – ~69.6% occupied, conversion dropped to 50%Greenbrier 508, AR – ~67% occupied, lead volume downGranville, OH – 83% → 33% conversion rateZanesville Newark Rd, OH – 66% → 33% conversion rateMarion, OH – 66% → 50% conversion rateTrimble Rd, OH – –5.7% YoY rental income despite discountingGranville, OH – Minimal revenue growth (+3%)Magee, MS – ~27% delinquent (16.8% over 30 days past due)Zanesville Richards Rd, OH – ~22.6% delinquent
New Users: 4,304 (–17.9% YoY)Sessions: 5,592 (–14.3%)Page Views: 8,729 (–12.6%)Total Conversions: 1,492 (–0.5%)Top Conversion Actions Tracked: Click-to-Call, Rent Button Click, Reserve Unit Click, Directions, Form Submissions, Reservations, RentalsDirect: 51.8% of sessions, 14.5% engagement rateOrganic Search: 24.8% of sessions, 69.2% engagement rate – strong performing channelPaid Search: 9.8% of sessions, 69.2% engagement rateCross-Network: 4.9% of sessions, 61.4% engagement rateOrganic Social: only 0.4% of sessions – lowest traffic and conversion contributorDesktop: 58.3% of sessionsMobile: 39.1% of sessionsTablet: <1%
Clicks: 1,547 (+2.6%)Impressions: 210,246 (–26.9%) – traffic volume down significantlyCTR: 0.74% (–40.4%) – opportunity for ad creative refreshConversions: 1,179 (–1.7%)Conversion Rate: 12.74% (–20.4%) – optimization neededCost/Conversion: $19.79 (+6.1%) – slightly higher acquisition cost“Magee storage” – 70.8%“Storage facilities” – 55.6%“Storage units marion ohio” – 34.2%“Storage units laurel ms” – 28%“Climate controlled storage near me”“Storage units zanesville ohio”“Storage units orrville”
High Performing Campaigns[ATOM:PREM] Marengo Performance – 66% conversion rate[ATOM:PREM] Magee Search – 51.4% conversion rate[ATOM:PREM] Mansfield – 51.2% conversion rate[ATOM:PREM] Trimble Search – 42% conversion rateLow Performing Campaigns[ATOM:PREM] Bryant – 3.1% conversion rate[ATOM:PREM] Haskell – 1.8% conversion rate[ATOM:PREM] Zanesville Combined – 12% conversion rate (high clicks but low close rate)
Revive Declining Traffic – Focus on SEO and Google Ads CTR improvements to counter reduced impressions and engagement.Reallocate Ad Spend – Shift budget from low-conversion campaigns (Bryant, Haskell, Zanesville) to high performers (Magee, Mansfield, Marengo).Ad Creative Refresh – Test new ad headlines and descriptions to boost CTR.Geo-Targeting Adjustments – Prioritize markets with strong conversion rates (Magee, Mansfield) and reduce spend in weak markets.Landing Page Optimization – Address low-converting search terms with tailored landing pages or offers.Leverage Organic Search Strength – Continue building on the 69% engagement rate from organic traffic with local SEO updates and GMB optimization.
Overall Occupancy: Premier Storage facilities are about 77–78% occupied on average (by unit count). However, occupancy varies widely by market: the Ohio portfolio is ~86% occupied, while Arkansas averages ~69% and Mississippi ~66%【26†】.High vs. Low Occupancy: Several mature sites are near capacity – e.g. Orrville is ~95% occupied. In contrast, a few facilities are under 50% occupancy: e.g. Benton is only ~38.5% filled (101 of 262 units)【46†】, and Laurel 12th Ave. is ~42%, indicating significant capacity for growth.Year-over-Year Changes: Most established locations maintained or improved occupancy. Notably, Marion (OH) jumped from ~51% last year to ~69.6% this year (an ~18 point increase), and Greenbrier 277 (AR) rose from ~64.5% to 84.3%【27†】 after concerted leasing efforts. A couple of sites saw slight declines in occupancy – e.g. Granville slipped by ~4–5 percentage points – but remain well occupied (mid-90s% to low-90s%).New Facility Lease-Up: The brand’s new acquisitions (with no occupants last year) have ramped up quickly. For example, Premier Conway reached ~85% occupancy within the year【46†】, though others like Benton (~38%) and Laurel 12th (~42%) are still in early lease-up stages. These new stores are boosting overall occupancy but continue to lag the more established sites.
Overall Revenue Increase: Premier Storage’s rental revenues have grown substantially YoY, driven by both new store openings and improved performance at existing sites. Total collected rent more than doubled versus last year (since 2024 had fewer facilities). Excluding new additions, the core portfolio (primarily in Ohio) still saw healthy growth of about +11% in rental income YoY【32†】.Market-Level Performance: Mississippi and Arkansas showed the strongest revenue gains. Mississippi went from no revenue last year to about $40k in rent this year (new stores coming online). Arkansas’s rental revenue jumped +228% YoY【32†】 after adding two new facilities and growing existing ones. Ohio’s mature stores grew more modestly, roughly +11% collectively【32†】 – a solid uptick for a stabilized market.Top & Bottom Performers: Many facilities posted double-digit revenue growth. For instance, Greenbrier 277’s rental income is up ~30% YoY【48†】, New Albany’s up ~27%, and Orrville’s up ~24%. Marion (OH) also climbed ~23%. By contrast, one site – Trimble Road – declined about 5.7% in revenue YoY【48†】 (from $10.3k to $9.7k MTD rent), and Granville was nearly flat at +3% growth【48†】. These underperformers with stagnant or falling revenue stand out in an otherwise positive year.Total Receipts: Overall receipts (rent + ancillary) have risen in step with occupancy and rent growth. The brand also earns ancillary income (insurance fees, etc.), contributing roughly $1–2k per month per site in addition to rent. As an example, Premier Laurel N. 12th Ave. collected over $1,000 in insurance premiums in the month. This extra revenue is a strength, though it varies by facility.
Lead Volume: Marketing efforts are yielding more inquiries in 2025. Ohio facilities received 51 leads vs 41 last year (+24% YoY)【36†】, and Arkansas went from 7 to 10 leads (+43%). The new Mississippi locations generated 26 leads (having had none in 2024)【36†】. Many individual stores saw notable spikes – e.g. Zanesville Newark Rd had 9 leads vs 3 last year (a 200% increase)【53†】, and New Albany went from 3 to 5 leads (+67%)【53†】. This indicates growing demand or improved advertising reach. However, a few sites experienced fewer leads YoY: Premier Granville dropped from 6 down to 3 inquiries (–50%)【53†】, and Greenbrier–508 fell from 3 to 1 lead (–66%)【53†】. These dips may signal local marketing gaps or heightened competition in those areas.Conversion Rates: The lead-to-rental conversion rate presents an opportunity. Brand-wide, conversion efficiency slipped slightly as inquiries rose – e.g. the Ohio market’s conversion rate fell from ~51.2% last year to 47.1% this year【36†】. In other words, while more people are inquiring, a smaller percentage are being converted to customers in some markets. Arkansas’s conversion remains high (~80%) but dipped a bit from 85.7%【36†】.Conversion Outliers: Some facilities excel at closing sales, while others are struggling. Notably, Premier Orrville improved to a 75% conversion rate (3 of 4 leads) this year, up from just 25% last year【22†】. This turnaround suggests effective changes in sales follow-up at Orrville. On the other hand, Premier Granville only converted 1 of 3 leads (~33%) this year, a steep drop from 5 of 6 (83%) last year【22†】. Similarly, Zanesville Newark’s conversion fell to ~33% (despite more leads) from 66% previously, and Marion’s dropped to 50% from ~66% last year. The new Mississippi stores are converting roughly 46% of their inquiries into move-ins【36†】 – a decent start, but there is room to improve as those teams and marketing mature.Lead Quality/Follow-up: These data reveal a gap in lead-to-customer conversion in certain locations. Facilities like Granville and Zanesville Newark are getting interest but not sealing the deal as often as before, suggesting a need to review sales techniques, follow-up speed, or pricing at those sites. In contrast, locations with improved conversion (e.g. Orrville, and the Greenbrier 277 at 80%+) could provide best practices for training other managers.
Promotion & Discounts: To drive occupancy, Premier Storage has been offering promotions or discounts, especially at newer and underfilled sites. Nearly every facility gave some rent discount this period – in some cases substantial. For example, Greenbrier 277 (AR) applied $646 in tenant discounts in the month【37†】 (the highest in the portfolio), and other lease-up facilities like Benton and Trimble Road each gave over $400 in discounts【37†】. While these concessions help attract move-ins, they also reduce immediate revenue. The reliance on heavy discounts at certain locations (especially those with low occupancy or slowing revenue) is a trend to monitor – the goal should be to taper discounts as occupancy stabilizes, to boost effective rent per unit.Delinquency Impact: Delinquency and collections are affecting receipts in a few markets. Overall bad-debt write-offs are minimal, but some facilities show a high proportion of tenants behind on payments. Premier Magee (MS) has about 27% of its tenant balances delinquent, with ~16.8% of rent over 30 days past due【38†】. Zanesville Richards Rd (OH) also has ~22.6% delinquency【38†】. Elevated delinquencies mean not all billed revenue is turning into cash. These locations may need stronger collection efforts or payment plans to improve actual cash flow. On a positive note, other sites (e.g. Granville, with only 2.5% delinquent【38†】) are keeping receivables well under control.Ancillary Revenue: The Premier brand is generating additional income through insurance sales and fees. Most facilities sold multiple tenant insurance policies this year, contributing anywhere from $1k to $2k+ in monthly insurance receipts (for example, Premier Laurel sites each collected roughly $1.5–1.8k in insurance fees). Insurance penetration varies – a few locations approach 100% insured rates, whereas one or two have opportunity to upsell (one site had virtually 0% insurance take-up【54†】). Increasing insurance penetration at those lagging sites can further boost receipts with minimal overhead. Additionally, retail sales are negligible (most report $0 in retail/merchandise income), so focus remains on core rental and insurance revenues.
Boost Underperforming Occupancy: Target the low-occupancy facilities and markets for improvement. Mississippi and Arkansas locations are trailing in occupancy – for example, Benton and Laurel 12th are below 45% full. These sites would benefit from intensified local marketing, outreach events, or adjusted pricing to accelerate lease-up. Bringing these facilities closer to the portfolio average occupancy will significantly improve overall revenue.Optimize Conversion Processes: Several locations are generating interest but not converting effectively. Premier should audit and support the sales follow-up process at sites like Granville, Marion, and Zanesville-Newark, where conversion rates declined. Training staff on timely follow-ups, offering move-in incentives, or adjusting unit pricing at these sites could help turn more inquiries into paying tenants. The success at Orrville (3× conversion improvement YoY) suggests that process improvements can yield major gains – those best practices should be shared across the portfolio.Reevaluate Discounting Strategy: While promotions have helped fill units, certain mature stores (e.g. Trimble Road) are still seeing revenue decline despite discounts. It’s important to review the discount strategy at underperforming sites – heavy, prolonged discounts can erode profitability. Consider phasing out concessions as facilities reach healthier occupancy, and use targeted marketing or value-added services instead of rent cuts to attract customers.Address Delinquency Early: High delinquency in a few facilities is a warning sign. Implement stricter collections practices in Mississippi and parts of Ohio – for instance, Magee and the Richards Road location should get focused collection calls, lien enforcement if needed, or tenant payment plan options. Reducing past-due accounts will immediately improve cash receipts and prevent bad-debt write-offs from rising.Leverage High Performers: Identify what’s driving success in top-performing markets and apply it elsewhere. Ohio’s strong occupancy and stable growth (and cases like New Albany’s rapid lease-up and Orrville’s sales turnaround) likely hold lessons in operations, local marketing, and customer service. Likewise, Arkansas’s Greenbrier sites saw big gains – the company should ensure those teams’ tactics (such as community outreach or dynamic pricing) are documented and replicated at weaker sites.Continue Building Ancillary Revenue: There is opportunity to further monetize the customer base. Encourage insurance uptake at facilities with low penetration – perhaps by training managers to pitch insurance or bundling it in promotions – to boost high-margin ancillary receipts. Additionally, evaluate if retail items (locks, boxes, etc.) can be better promoted since retail sales are minimal; even a small upsell per move-in can enhance overall receipts.
250808 Premier Storage Meeting notes
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Review rates at Conway/Granville/Trimble/Magee
@Andrew Aue
@Larissa Fincher
Fri, Aug 8
Conway and Granville are College Properties. Is Marion?
Fri, Aug 8
Update on Benton drainage issues
Fri, Aug 8
All properties receipts are up to LY except Trimble
Fri, Aug 8
18% increases for 151 customer at $2272 for September
Fri, Aug 8
to dive into focus properties
@Larissa Fincher
Fri, Aug 8
check mansfield, OH for new comps
@Larissa Fincher
Fri, Aug 8
Menards is building storage on land
Fri, Aug 8
lower rates significantly at Trimble Road, get the property back on track and turn off veritec.
@Andrew Aue
@Larissa Fincher
Fri, Oct 10
Check on signage at Benton
@Larissa Fincher
Fri, Oct 10
Benton 2 months free promo
@Larissa Fincher
Fri, Oct 10
There are no rows in this table
Premier Storage – High-Level YoY Overview
Performance Highlights
Opportunities for Improvement
Focus Properties for Improvement
Low Occupancy (<50%)
Moderate Occupancy but High Growth Potential (50–70%)
Conversion Declines
Revenue Concerns
High Delinquency
Premier Storage – Marketing Update (Jul 9 – Aug 7, 2025)
Overall Website Performance
Traffic by Channel
Device Usage
Google Ads Performance
Top Search Terms by Conversion Rate
Lowest Performing Terms (0% conversion)
Campaign-Level Highlights
Opportunities for Improvement
Premier Storage YoY Performance Overview (2025 vs 2024)
Occupancy Rates
Revenue Growth
Leads & Conversion Data
Receipts and Other Trends
Summary of Actionable Insights
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