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The Premier Storage portfolio overall showed positive year-over-year growth from Q3 2024 to Q3 2025.Occupancy and move-ins improved across most locations, and total revenue is projected to end 2025 higher than 2024.New properties (Benton, Conway, Laurel, Magee) are leasing up quickly, already reaching 70–85% occupancy.
New Albany – Strongest YoY improvement: occupancy rose from 44% → 69%, revenue up ~16%.Granville – Stable high occupancy (~95%) and consistent growth, on pace for ~$580k in 2025 (+12% YoY).Marion – Recovered well post-expansion, expected +6–7% revenue growth.Conway, Laurel, Magee, Benton – Rapid lease-up; expected to stabilize in 2026.
Trimble Road – Occupancy slipped from 84% → 79%; revenue projected down ~10% vs. 2024.Orrville – Slight occupancy dip (96% → 92%); flat revenue due to reduced move-ins and rent growth.Zanesville – Newark Rd – Occupancy up but revenue down ~5%; likely due to discounts or concessions.Zanesville – Richards Rd – Similar trend; flat occupancy but ~5% lower revenue YoY.Marengo – Modest occupancy gains but ~4% revenue decline, possibly from rent reductions.
Portfolio-wide revenue expected to finish up 4–7% vs. 2024.Occupancy should end around 85–88%, boosted by strong lease-up momentum.Seasonality: Q4 expected to be softer in move-ins but stable in occupancy; limited downside risk.
Underperformers: Review pricing and move-out causes; consider adjusting rate strategy to rebuild revenue.New properties: Maintain rate discipline during lease-up to avoid rate compression.Portfolio goal: Finish 2025 strong by sustaining occupancy gains while preserving rent per square foot.
Overall portfolio revenue increased year-over-year, driven by new property openings and solid gains at several existing sites.Top growth contributors:New facilities (Laurel MS15, Conway, Magee, Benton, Laurel N. 12th Ave) accounted for the largest dollar increases.Existing leaders: Granville (+9%), New Albany (+20%), and Greenbrier 277 (+17%) posted strong YoY gains.Underperformers: Orrville (–4.6%), Trimble (–3.6%), and both Zanesville sites (slightly negative) saw declines in Q3 2025 revenue compared to Q3 2024 — consistent with earlier observations of rate pressure or reduced move-ins.
967 existing customers are scheduled for rent increases.Average increase: $24.60/month or ~24%.Total portfolio uplift: $23,789/month → $285,473/year.Portfolio monthly revenue:Before increases: $287,269After increases: $311,058Overall uplift: 8.3%.
Premier Storage – Laurel MS15: Largest impact — 187 customers, +$4,639/month (+$55.6K annually).Premier Storage – Benton: Highest average increase per customer — $25/month (~36%).Portfolio-wide weighted increase: ~19%.
Average increase per customer: Approximately $24.60 per month (about 24.13% relative increase on their current rent on average).Total monthly rent increase (all customers combined): $23,789.40 (this is the net uplift from all scheduled changes, factoring in the one small decrease).Overall weighted percentage increase: ~19.05% (i.e. portfolio-wide, the affected customers’ combined rent will increase by about 19% on average when weighted by rent amounts).Current vs. projected revenue: Currently, the portfolio generates about $287,268.51 in rent per month. After all scheduled changes take effect, the monthly revenue is projected to be $311,057.91, an increase of $23,789.40 per month. On an annual basis, this corresponds to revenue rising from approximately $3.447 million to $3.733 million, an annual uplift of $285,472.80 due to these increases.
Number of impacted customers: How many tenants at each property have a scheduled rent change.Average & total increase: The mean dollar increase per affected tenant at that property, and the sum of all dollar increases at that property.Average & total % increase: The mean percentage increase per affected tenant, and the overall percentage increase for all affected tenants combined (weighted by their rent) at that property.Revenue before vs. after: The total monthly rent revenue for the property before the increases, and after the scheduled increases take effect. Annual figures are 12× the monthly values.Revenue uplift: The increase in monthly and annual revenue for each property as a result of the scheduled changes.
Granville – On pace for approx. $580k revenue in 2025 (∼12% growth over $516.6k in 2024), given its strong Q3 and historically steady Q4. Occupancy should end around 96–97% (virtually full).New Albany – Projected to reach ~$295k for 2025 (up ~16% from $253.5k in 2024) after a big surge in occupancy. Expected to end the year near 70+% occupancy (versus 44% last year) as it continues converting new rentals into income.Marion – Likely to finish around $315k in revenue (a 6–7% increase over 2024’s $295.7k). Occupancy is projected to close 2025 in the low 70% range – still below pre-expansion levels, but improving as lease-up progresses into next year.Marengo – Forecasting roughly $153k in 2025 revenue, slightly under 2024’s $159.6k. Q4 is typically modest for Marengo; occupancy may end ~80% (up from 69% last year), but revenue will trail due to earlier softness.Orrville – Should finish around $272k, roughly flat with 2024 ($271k). High occupancy will be sustained (~92–95%), but limited upside in revenue without raising rates.Trimble Road – Projected to end near $258k in revenue (down ~10% from $286.5k). Occupancy may dip slightly further by year-end (mid/upper-70s%) if move-outs continue to outpace move-ins in Q4.Zanesville (Newark & Richards) – Each expected to end 2025 about 5% below last year’s revenue. Newark is on track for ~$218k vs $231k in 2024; Richards ~$145k vs $152k. Both should see occupancy close out in the high 80s%. The revenue shortfall suggests rental rates were lowered or many new move-ins received promotional pricing in 2025.
Premier Storage Trimble Road – Occupancy has slipped from ~84% in late 2024 to ~79% in Q3 2025, and 2025 revenue is projected ~10% lower than 2024 (approx. $258k vs $287k). Higher move-outs and possibly reduced rental rates have led to a net loss of tenants (net –13 YTD) and lower income.Premier Storage Orrville – Leasing has slowed in 2025, with only 96 move-ins vs 142 the prior year, and occupancy dipping slightly (95.6% to ~92%). While still nearly full, Orrville’s revenue is flat to down (~$272k vs $271k) despite last year’s rent increase, indicating no growth and a potential issue with tenant churn.Premier Storage Zanesville – Newark Rd – Achieved higher occupancy (84% → 88%), but revenue is down about 5%. Year-to-date revenue of $162.6k trails the $231.1k in 2024, so even with Q4 it will likely finish below last year. This suggests aggressive pricing or concessions in 2025; renting more units has not translated into higher total revenue.Premier Storage Zanesville – Richards Rd – Similarly, revenue is trending ~5% lower year-over-year ($109.0k YTD vs $151.7k in 2024). Occupancy has improved (85.6% → 89%), but at the cost of rent per unit. The net rentals are roughly flat (–1 YTD), implying the facility isn’t adding new tenants, and those it has are generating less revenue on average than last year.Premier Storage Marengo – Slight underperformance financially: 2025 revenue is on pace to decline (~$153k vs $159.6k in 2024) despite a modest occupancy increase. Net rentals are positive (+16 YTD), but it appears rents or collections dropped (possibly due to a higher delinquency or promotional discounts), resulting in a 2–4% revenue dip year-on-year.Other Notes: Marion is not listed as underperforming because its revenue is expected to increase (~+6% YOY) and occupancy is rebounding post-expansion (though still below pre-expansion levels). New Albany and Granville are top performers with significant YOY improvements. The new stores (Benton, Conway, Laurel, Magee) have no 2024 baseline, but all are leasing up strongly; their challenge will be to maintain rate integrity as they push to full occupancy.
251010 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 $2272 for September
Fri, Aug 8
to dive into focus properties
@Larissa Fincher
Fri, Aug 8
check mansfield, OH for new comps
@Larissa Fincher
Fri, Aug 8
Menards is building storage on land
Fri, Aug 8
lower rates significantly at Trimble Road, get the property back on track and turn off veritec.
@Andrew Aue
@Larissa Fincher
Fri, Oct 10
Check on signage at Benton
@Larissa Fincher
Fri, Oct 10
Benton 2 months free promo
@Larissa Fincher
Fri, Oct 10
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New Proeprty Names
Premier Storage – Vilonia Simmons Dr (1 Simmons Dr, Vilonia, AR 72173)
Premier Storage – Conway 560 U.S. 64 (560 US-64, Conway, AR 72032)
Premier Storage - Conway 512 U.S. 64 (512 Hwy 64 E Conway AR)
Premier Storage – Vilonia Main St (744 Main Street Conway, AR 72032)
CapEx Budget
📊 Portfolio Overview
🏢 Top Performing Properties
⚠️ Underperforming Properties (YoY Declines)
📈 2025 Year-End Projections
🧭 Action Focus
Q2 → Q3 2025 total revenue update for all Premier Storage properties (full dataset).
Table 8
Property
Q2 2025 Revenue
Q3 2025 Revenue
Change ($)
Change (%)
Benton
$13,641
$26,982
+$13,341
97.8%
Conway
$52,833
$66,070
+$13,237
25.1%
Granville
$136,807
$144,850
+$8,043
5.9%
Greenbrier 508
$28,985
$32,759
+$3,774
13%
Greenbrier 277
$39,381
$48,326
+$8,945
22.7%
Marengo
$46,581
$53,474
+$6,893
14.8%
Marion
$69,212
$80,278
+$11,066
16%
New Albany
$66,845
$79,627
+$12,782
19.1%
Orrville
$62,071
$69,099
+$7,028
11.3%
Trimble Road
$54,012
$61,780
+$7,768
14.4%
Zanesville – Newark Rd
$47,103
$54,870
+$7,767
16.5%
Zanesville – Richards Rd
$31,569
$38,183
+$6,614
21%
Laurel MS15
$72,220
$100,235
+$28,015
38.8%
Laurel N. 12th Ave
$27,275
$42,530
+$15,256
55.9%
Magee
$30,995
$47,953
+$16,957
54.7%
There are no rows in this table
Q3 2025 vs Q3 2024 for all Premier Storage properties:
Table 9
Property
Q3 2024 Revenue
Q3 2025 Revenue
YoY Change ($)
YoY Change (%)
Laurel MS15
$0
$100,235
+$100,235
n/a (new in 2025)
Conway
$0
$66,070
+$66,070
n/a (new in 2025)
Magee
$0
$47,953
+$47,953
n/a (new in 2025)
Laurel N. 12th Ave
$0
$42,530
+$42,530
n/a (new in 2025)
Benton
$0
$26,982
+$26,982
n/a (new in 2025)
Granville
$132,390
$144,850
+$12,460
+9.4%
Greenbrier 277
$41,284
$48,326
+$7,042
+17.1%
Greenbrier 508
$30,011
$32,759
+$2,748
+9.2%
Marengo
$47,252
$53,474
+$6,222
+13.2%
Marion
$76,018
$80,278
+$4,260
+5.6%
New Albany
$66,470
$79,627
+$13,157
+19.8%
Orrville
$72,468
$69,099
–$3,369
–4.6%
Trimble Road
$64,075
$61,780
–$2,295
–3.6%
Zanesville – Newark Rd
$55,026
$54,870
–$156
–0.3%
Zanesville – Richards Rd
$39,070
$38,183
–$887
–2.3%
There are no rows in this table
📊 Summary Insights
Cubby Training
Sparefoot Changes
Table 1
Facility Name
Spare Foot Monthly Budget
Search Impr. Share (Competitors)
Position
Lost IS % Due to Budget
Gads Increase Rec
Sparefoot Excess
Notes (Owner Approved, context, etc.)
Column 9
Minimum Bid
Current Bid
Reservations
Move-Ins
Premier Storage - Benton Total
$333.33
56%
1
31%
$300
$33
28
16
Premier Storage - Conway Total
$208.33
37%
1
26%
$200
$8
24
10
Premier Storage - Granville Total
$291.67
22%
2
64%
$300
-$8
25
14
Premier Storage - Greenbrier - 277 S. Broadview Total
$270.83
44%
1
26%
$300
-$29
39
13
Premier Storage - Greenbrier - 508 U.S. 65 Total
$250.00
-%
-
-%
$250
31
12
Premier Storage - Laurel MS 15 Total
$270.83
73%
1
6%
$250
$21
17
13
Premier Storage - Laurel North 12th Ave. Total
$312.50
54%
1
29%
$300
20
15
Premier Storage - MaGee Total
$250.00
32%
3
37%
$250
$0
18
12
Premier Storage - Mansfield Total
$416.67
32%
1
15%
$400
$17
50
20
Premier Storage - Marengo Total
$458.33
38%
1
42%
$300
$158
32
22
Premier Storage - Marion Total
$937.50
61%
1
19%
$300
$638
81
45
Premier Storage - New Albany Total
$562.50
42%
1
46%
$550
$13
51
27
Premier Storage - Orrville Total
$270.83
26%
2
44%
$250
$21
25
13
Premier Storage - Zanesville-Newark Rd Total
$687.50
41%
2
23%
$650
$38
60
33
Premier Storage - Zanesville-Richards Rd Total
$312.50
-%
-
-%
$300
$13
39
15
There are no rows in this table
Rate Increases
Key Property Highlights
Revenue Impact Overview
Table 5
Metric
Monthly
Annual
Before Increases
$287,268.51
$3,447,222.12
After Increases
$311,057.91
$3,732,694.92
Uplift
$23,789.40
$285,472.80
There are no rows in this table
Scheduled Rate Increase Summary (Portfolio and Property Breakdown)
Portfolio Overview
As of the current dataset, 967 existing customers have scheduled rent rate changes (i.e. their upcoming rent differs from the current rate). This represents roughly 37.7% of the 2564 total customers in the portfolio. Nearly all of these changes are increases, with only one exception (a unit at Granville scheduled for a rate drop from $118 to $110). Below is a summary of key portfolio-wide metrics for the scheduled increases:
Table 1 below provides a detailed portfolio summary of these metrics:
Table 1: Portfolio-Wide Summary of Scheduled Rent Increases
Table 2
Metric
Value
Total impacted customers
967
Average increase (monthly $)
$24.60
Total increase (monthly $)
$23,789.40
Average increase (% of current rent)
24.13%
Overall increase (% weighted)
19.05%
Current total monthly revenue
$287,268.51
Projected total monthly revenue
$311,057.91
Monthly revenue uplift
$23,789.40
Current annual revenue
$3,447,222.12
Projected annual revenue
$3,732,694.92
Annual revenue uplift
$285,472.80
There are no rows in this table
Citations: The columns used from the dataset are Rent Last Changed (previous rate), Scheduled Rate Change Date, and Next Scheduled Rate (new rate). For example, one entry from Premier Storage – Benton shows a current rent of $60.00 with a scheduled increase to $85.00 effective 2025-11-01, a $25 (41.7%) jump. Similarly, at Premier Storage – Laurel MS15, a unit’s rent is set to rise from $98.00 to $123.00 on 2025-11-01 (a $25 increase, ~25.5%). These individual cases illustrate the typical magnitude of rent hikes across the portfolio.
Property-by-Property Breakdown
Every property in the portfolio has at least some tenants with upcoming rate adjustments. Table 2 and Table 3 break down the requested metrics by property, providing a granular view:
Table 2: Rate Increase Summary by Property (Impacted Count and Increase Amounts)
Table 3: Revenue Impact by Property (Monthly and Annual)
Table 4
Property
Monthly Revenue<br>(Before → After)
Monthly Uplift
Annual Revenue<br>(Before → After)
Annual Uplift
Premier Storage - Benton
$9,337.00 → $9,762.00
$425.00
$112,044.00 → $117,144.00
$5,100.00
Premier Storage - Conway
$18,910.50 → $19,128.30
$217.80
$226,926.00 → $229,539.60
$2,613.60
Premier Storage - Granville
$52,504.50 → $54,144.00
$1,639.50
$630,054.00 → $649,728.00
$19,674.00
Premier Storage - Greenbrier 277
$6,590.00 → $8,030.00
$1,440.00
$79,080.00 → $96,360.00
$17,280.00
Premier Storage - Greenbrier 508
$5,359.00 → $6,503.50
$1,144.50
$64,308.00 → $78,042.00
$13,734.00
Premier Storage - Laurel MS15
$20,570.00 → $25,209.00
$4,639.00
$246,840.00 → $302,508.00
$55,668.00
Premier Storage - Laurel N. 12th Ave.
$7,339.00 → $8,856.00
$1,517.00
$88,068.00 → $106,272.00
$18,204.00
Premier Storage - MaGee
$3,900.00 → $4,750.00
$850.00
$46,800.00 → $57,000.00
$10,200.00
Premier Storage - Marengo
$7,144.00 → $8,658.00
$1,514.00
$85,728.00 → $103,896.00
$18,168.00
Premier Storage - Marion
$7,018.50 → $8,668.00
$1,649.50
$84,222.00 → $104,016.00
$19,794.00
Premier Storage - Millport
$1,600.00 → $1,960.00
$360.00
$19,200.00 → $23,520.00
$4,320.00
Premier Storage - Northport
$8,714.00 → $10,541.00
$1,827.00
$104,568.00 → $126,492.00
$21,924.00
Premier Storage - Pinson
$3,780.00 → $4,590.00
$810.00
$45,360.00 → $55,080.00
$9,720.00
Premier Storage - Vernon
$5,431.80 → $6,622.00
$1,190.20
$65,181.60 → $79,464.00
$14,282.40
Premier Storage - Winfield
$8,967.60 → $10,978.00
$2,010.40
$107,611.20 → $131,736.00
$24,124.80
There are no rows in this table
From the above, we can note a few highlights: Premier Storage – Laurel MS15 has the largest number of tenants with increases (187 customers) and consequently the highest total uplift (about $4,639 more per month, boosting that property’s annual revenue by over $55.6k). Premier Storage – Benton stands out with the highest average increase per customer ($25.00), which also translates to the highest average percentage increase (~36.4% on average for affected tenants at Benton). This is evident from multiple Benton tenants seeing ~$25 jumps (e.g. $60 → $85 as cited above). In contrast, properties like Conway have more modest average increases (around $16.75 or ~19.8% on average).
Overall, once these scheduled adjustments take effect on their respective dates (as listed in the Increase Scheduled Date column), the portfolio will see a significant uplift in rental income – on the order of $23.8k more per month, which is roughly a 19% increase in revenue for the affected tenants and about an 8.3% increase in the portfolio’s total monthly revenue. The structured breakdown above provides a comprehensive view of how each property and the entire portfolio are impacted by the upcoming rate increases.
Premier Storage Portfolio Performance (Q3 2025 vs Q3 2024)
Overview
The Premier Storage portfolio showed mixed performance from Q3 2024 to Q3 2025. Overall occupancy across most facilities has improved year-over-year, with several new properties ramping up quickly. Total move-ins in 2025 (year-to-date) have outpaced prior year levels for many sites, driving higher net rentals and occupancy gains. Total revenue collected is on track to increase for the portfolio as a whole in 2025. However, a few mature properties are underperforming, experiencing year-over-year declines in key metrics such as occupancy percentage, leasing activity (move-ins), and revenue. The sections below provide a property-level breakdown of occupancy, move-ins/outs, net rentals, occupied rent, gross potential, and total revenue, followed by projections for year-end 2025 and identification of underperforming locations.
Occupancy & Rental Activity by Property (2023–2025)
The table below summarizes occupancy rates (percent of units occupied at year-end or Q3 2025), move-ins, move-outs, and net rentals (move-ins minus move-outs) for each property in 2023, 2024, and 2025 (YTD through Q3). This highlights how each facility’s occupancy and tenant turnover have trended over the past three years:
Table 6
Property
Occ. % End ’23
Occ. % End ’24
Occ. % Q3 ’25
Move-Ins 2023
Move-Ins 2024
Move-Ins 2025 YTD
Move-Outs 2023
Move-Outs 2024
Move-Outs 2025 YTD
Net Rentals 2023
Net Rentals 2024
Net Rentals 2025 YTD
Benton (new Q4’24)
– (n/a)
~0% (opened)
~40% (Q3)
–
20
134
–
4
47
–
+16
+87
Conway (new Q1’25)
– (n/a)
– (n/a)
~80% (Q3)
–
–
105
–
–
100
–
–
+5
Granville
~90%
~93%
~95%
181
160
137
179
157
136
+2
+3
+1
Greenbrier 508
~55%
~63%
~66%
50
82
68
76
61
58
–26
+21
+10
Greenbrier 277
~45%
~58%
~63%
78
127
110
126
95
86
–48
+32
+24
Laurel (MS-15) (new ’25)
– (n/a)
– (n/a)
~85%
–
–
102
–
–
59
–
–
+43
Laurel (N. 12th) (new ’25)
– (n/a)
– (n/a)
~70%
–
–
139
–
–
57
–
–
+82
Magee (new ’25)
– (n/a)
– (n/a)
~75%
–
–
147
–
–
76
–
–
+71
Marengo
~72%
~69%
~79%
86
110
92
92
104
76
–6
+6
+16
Marion (expanded ’24)
~78%
~54%
~70%
254
232
272
243
187
205
+11
+45
+67
New Albany
~40%
~44%
~69%
68
109
193
83
88
114
–15
+21
+79
Orrville
~88%
~96%
~92%
142
142
96
120
127
99
+22
+15
–3
Trimble Road
~80%
~84%
~79%
163
169
133
165
161
146
–2
+8
–13
Zanesville (Newark Rd)
~82%
~84%
~88%
97
113
95
93
113
83
+4
0
+12
Zanesville (Richards Rd)
~75%
~86%
~89%
110
88
70
92
87
71
+18
+1
–1
There are no rows in this table
Key observations: Most properties saw occupancy% rise from end of 2024 to Q3 2025, thanks to positive net rentals. Notably, New Albany jumped from ~44% to ~69% occupancy as it gained a net +79 tenants YTD 2025 after a major leasing push. Marion (which expanded in late 2024) saw occupancy rebound from ~54% at end of 2024 to ~70% by Q3 2025 as new units filled up. New facilities like Benton, Conway, Laurel, and Magee are in rapid lease-up, already achieving 70–85% occupancy in 2025. For example, Conway reached ~80% occupancy by Q3 2025 just months after opening, with 194 of 243 units rented by September. Portfolio-wide, move-ins have been strong in 2025 – e.g. Marion (272 move-ins YTD) and New Albany (193) each exceeded their entire 2024 move-in counts in just three quarters. This has driven solid net rentals (net new occupied units) for many sites, reflected in the occupancy gains.
A few properties did experience higher move-out activity or slower leasing this year. Orrville had 96 move-ins vs 99 move-outs through Q3 (slightly negative net), versus net +15 last year, contributing to a small occupancy dip from 95.6% to ~92%. Trimble Road similarly had more move-outs (146) than move-ins (133) YTD, reversing some of 2024’s gains – its occupancy slipped from ~84% to ~79%. Overall, however, tenant demand remains strong, and most locations grew occupancy year-over-year.
Financial Performance by Property (2023–2025)
The next table summarizes each property’s financial metrics: Actual Occupied Rent (the monthly rent being paid by occupied units) and Gross Potential Rent (rent potential at 100% occupancy) at the end of each period, alongside Total Revenue Collected during 2023, 2024, and 2025 (YTD). These metrics illustrate how effectively each property is converting occupancy into revenue, and whether rental income is keeping pace with capacity.
Table 7
Property
Occupied Rent (Dec ’23)
Occupied Rent (Dec ’24)
Occupied Rent (Sep ’25)
Gross Potential (Dec ’23)
Gross Potential (Dec ’24)
Gross Potential (Sep ’25)
Total Revenue 2023
Total Revenue 2024
Total Revenue 2025 YTD
Benton (new)
–
$1.7k
$10.5k
–
$21.9k
$16.3k
$0.0k
$0.3k
$10.5k
Conway (new)
–
–
$20.8k
–
–
$20.8k
–
–
$139.8k
Granville
$47.2k
$50.7k
$52.1k
$59.4k
$59.4k
$59.4k
$473.7k
$516.6k
$410.4k
Greenbrier 508
$7.4k
$8.0k
$8.9k
$13.0k
$14.7k
$13.7k
$87.2k
$106.1k
$88.7k
Greenbrier 277
$6.8k
$9.3k
$10.2k
$15.0k
$16.6k
$16.4k
$127.9k
$152.1k
$123.6k
Laurel (MS-15) (new)
–
–
$14.5k
–
–
$17.3k
–
–
$172.5k
Laurel (N. 12th) (new)
–
–
$6.1k
–
–
$8.2k
–
–
$69.8k
Magee (new)
–
–
$5.9k
–
–
$7.9k
–
–
$78.9k
Marengo
$14.3k
$13.2k
$15.0k
$18.9k
$19.3k
$19.3k
$140.2k
$159.6k
$115.1k
Marion
$23.3k
$12.5k
$17.9k
$29.3k
$23.3k
$25.8k
$295.4k
$295.7k
$234.6k
New Albany
$11.8k
$12.9k
$20.8k
$26.9k
$29.5k
$30.4k
$221.2k
$253.5k
$217.5k
Orrville
$27.5k
$28.6k
$27.7k
$28.8k
$29.9k
$30.1k
$228.6k
$271.0k
$204.4k
Trimble Road
$24.8k
$27.3k
$25.8k
$29.8k
$32.5k
$32.5k
$260.9k
$286.5k
$192.6k
Zanesville (Newark)
$18.5k
$19.7k
$18.7k
$22.0k
$23.4k
$21.2k
$198.2k
$231.1k
$162.6k
Zanesville (Richards)
$10.9k
$12.8k
$12.6k
$12.8k
$14.9k
$14.2k
$132.5k
$151.7k
$109.0k
There are no rows in this table
Key observations: Most properties grew actual occupied rent in place from 2024 to 2025, in line with higher occupancy. For instance, New Albany’s occupied rent (monthly rent of occupied units) rose to ~$20.8k by Sept ’25 from ~$12.9k a year prior as more units were rented. Similarly, Marion’s occupied rent increased from $12.5k to $17.9k over the same period as new tenants moved in. These gains boosted the revenue collected in 2025 for many sites – e.g. Granville has collected $410k through Q3 and is on pace to exceed its $516.6k total in 2024. Gross potential rent (theoretical max revenue) also grew modestly at some sites due to rate adjustments or added units (Marion’s gross potential rose to $25.8k monthly after expansion).
Despite higher occupancy, several properties show flat or declining revenue year-over-year, indicating possible rate discounts or rent pressures. Notably, Orrville and Trimble Road both have 2025 YTD revenues lagging their 2024 totals. Orrville’s occupancy remains high (~92%), but its revenue through Q3 2025 is only $204k (versus $271k in 2024), suggesting concessions or lower rates. Trimble Road collected ~$192.6k so far in 2025, projecting around $257k for the full year – about 10% below its $286.5k revenue in 2024. Likewise, the two Zanesville locations, despite improved occupancy, are trending slightly lower in revenue (each about 5–6% under 2024 levels), implying that rental income per unit has fallen. This is a potential red flag that increased occupancy is coming at the cost of reduced rates or incentives.
2025 Year-End Projections
Using seasonal patterns from 2023 and 2024, we project how each property will finish 2025. In general, Q4 tends to contribute roughly 25% of annual revenue and a small uptick in net rentals (since demand moderates in winter). Assuming similar seasonality, most properties are expected to finish 2025 with revenue growth over 2024. For example:
For the new properties, full-year 2025 will naturally far exceed 2024 (when they were not or barely operational). Benton (opened Oct ’24) will likely collect around $60–70k in 2025 with occupancy closing in on ~45–50%. Conway (opened Mar ’25) is already 80% occupied and should finish 2025 at 85%+ occupancy and ~$180k revenue. The Laurel facilities and Magee (all opened in 2025) are ramping up well; each is projected to end the year near their current occupancy levels (70–85%) and will provide a full year of revenue baseline for 2026. We will continue monitoring these new stores as they stabilize.
Underperforming Properties (YOY Declines)
The following properties are performing below expectations, showing year-over-year declines from 2024 to 2025 in one or more key metrics:
Conclusion
In summary, Premier Storage’s Q3 2025 performance indicates overall positive momentum: portfolio occupancy has risen and many properties are generating more revenue than last year. New facilities have rapidly added tenants, contributing to portfolio growth. However, a few mature sites are struggling to convert occupancy gains into revenue growth, pointing to possible rate cuts or customer turnover issues that need addressing. As we project year-end 2025, most properties should exceed their 2024 revenue – with the exception of a handful of underperformers identified above. These locations may require focused attention on pricing strategy and marketing to boost demand without eroding rate. Going into 2026, sustaining high occupancy and improving rental yield will be key goals for underperforming stores, while continuing the strong lease-up of new facilities will help drive the portfolio’s overall performance. The data-backed insights in this report will guide targeted actions for each property to ensure a strong finish to 2025 and inform strategic decisions for the coming year.
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