Skip to content
October MTD (Oct 1–7) – All Portfolios: Revenue up strongly YoY across the board: T10 +44%, SSD ~+15%, SDU ~+16%, GLS ~+24%. Net units: T10 +5, SSD +8, GLS +2, SDU –3. Avg occupancy: SSD ~75%, SDU ~84%, GLS ~77% (T10 generally high).T10 (Top performer): Broad-based double-digit gains; most sites near full and shifting to rate optimization. Standouts: Mansfield (+89%), Albertville (+77%, +3 units), Monroe (+77%, +2), Fort Payne (+73%). Minor dips in units at Franklin/Hiawatha but still strong revenue growth.SSD (mixed, big upside): Solid aggregate growth with pockets of underperformance due to vacancy and discounting. Leaders: Cleveland (+52%), Panama City (+32%, +2 units), McCalla (+19%, +2). Opportunities: Harpersville (~52% occ), Monteagle (~60% occ), Griffin (–31% YoY; +3 units w/ concessions), Thomson (~63% occ; –3% YoY).SDU (stable/high occ): Layton +23.9% YoY (–1 unit; strong rate/collections). West Valley +9.8% YoY (–2 units) = watchlist for rate/retention tune-ups.GLS (Taylors driving): Taylors +39% YoY; ~86% occ; +2 net → clear winner. Greenville +11.7% YoY; ~72–73% occ; 0 net → major lease-up opportunity.Winners (high YoY + healthy occupancy/net rentals): Mansfield (T10), Albertville (T10), Monroe (T10), Cleveland (SSD), Taylors (GLS), Panama City (SSD); also Hiawatha, Danville, Layton.Opportunities (vacancy/discount drag): Harpersville (SSD), Monteagle (SSD), Griffin (SSD), Thomson (SSD), Greenville (GLS), West Valley (SDU); plus Elizabethton/LaFollette (SSD) and Valley (SSD) for re-acceleration.Year-End 2025 Outlook (based on YTD + Oct run-rate):T10: ~$2.0M+, ~+50–60% YoY; near-full, rate-led finish.SSD: ~$3.0–3.1M, 100%+ YoY; raise low-occ sites toward ~80% by YE.SDU: ~$600–630k, ~+130% YoY; sustained high occupancy.GLS: ~$600–620k, 150%+ YoY; Taylors strong, Greenville lease-up = upside.Occupancy by YE (trajectory): T10 mid/high-90s%, SSD ~80% (from ~75%), SDU mid/high-80s%, GLS ~90% Taylors / ~75–80% Greenville if leasing plans land.
Market size & supply: ~3–4 facilities in Thomson (Blue Sky, two Storage Depot sites, Pook’s) with ~50–60k sq ft total; broader area has more options but not many in-city. ~7–8 sq ft per capita → roughly balanced supply, not oversaturated. Minimal new pipeline beyond your recent Bussey Ave addition.Operators: No REITs; regional + independent players. Blue Sky is the largest/most visible (I-20 adjacency, U-Haul). Storage Depot has Black St. (mix incl. climate) and Bussey Ave (newer, drive-up). Pook’s is small/older (value-add profile).Demand drivers: City pop ~6.9k (stable/slow growth); ~46–47% renters (high for a small town), median HH income ~$43k → price-sensitive, move-prone segment. Jobs base: manufacturing, distribution, nurseries; some boat/RV demand (lake use). Net: durable, value-oriented demand.Pricing (street rates): Thomson is affordable. Typical 10×10 ~$70–75 avg (lowest ~$60s); 5×5 mid-$20s, 10×20 ~$100–120. Climate stock is limited and priced low where offered. You’re price-competitive.Promotions: Heavy use of “1st month $1 / free” and web specials across competitors. This keeps funnels full; expect promos to remain common.Occupancy (inferred): Generally high (≈90%+), with waitlists on some sizes; occasional vacancy where operators push promos. Your Thomson sites ≈ low-60s% today (per internal), so the issue is awareness + conversion, not price ceiling.Trends & outlook: After 2023 softness, 2025 demand stabilizing/up-ticking; rents flat to gently rising. Limited new supply locally → favorable to tighten discounts and edge rates up as units fill. Tertiary cap rates ~7–8%; value grows via NOI (fill + optimize).
Local SEO + reviews: Separate, optimized Google Business Profiles for Black St. & Bussey Ave.; weekly posts; review surge (Bussey to 15+) with SMS ask.Promo calibration: Keep deep promos on high-vacancy sizes; switch scarce sizes to lighter incentives (e.g., 2nd-month 50% off).Rate tests: Nudge 10×10 from $49 toward $59–69 at Bussey; watch conversion. Raise when a size hits ≥80–85%.Paid demand capture: Tight-radius Google Ads (7–10 mi) on “storage thomson”, “10×10 thomson”, “boat storage”; daypart call-only 9a–8p.Channel coverage: Keep listings fresh on SpareFoot / StorageCafe / Storage.com until ≥80% occupied.Use-case targeting: Emphasize boat/RV (Black St.), contractor bundles (shelving, delivery acceptance), and small-biz storage.Product fit: If large sizes sit, pilot split to more 10×10s or add a few portables (8×10).Referral flywheel: Partner with apartments, MH communities, U-Haul dealers; $25 referral.
Total Units with Increases: 1,176Portfolio-Wide Average $ Increase: $19.36Portfolio-Wide Average % Increase: ≈22.7%Total Monthly Revenue Uplift: ≈$23,100
Smile Storage – 1114 Washington Rd (posts public rates; CC & drive-up; portables). Sample rates: 10×10 CC ~$105, 10×10 drive-up ~$99, 5×10 drive-up ~$49, 10×15 drive-up ~$135. Aggregators list ~20 facilities in the wider Thomson area (likely pulls in nearby sub-markets). City of Thomson ~6.9k residents (2025 est.); McDuffie County ~22k (modest +0.5% YoY). Stable to slightly growing base. Nationally, storage space averages ~6.3 sq ft per capita; rents have recently been soft but stabilizing. (Useful for benchmarking, not a hard local stat.) Marketplace average in Thomson over last 180 days: all-size avg ~$65.6/mo; 10×10 avg ~$71.1. Bussey 10×10 @ $49 is below that average and meaningfully below Smile’s 10×10 drive-up ~$99. If occupancy is still ~63%, you don’t have a “price ceiling” problem — it’s awareness/lead-gen and offer framing. Black Street’s very low entry points (small CC units, first-month-free) are effective for funnel fill; ensure those specials aren’t overly cannibalizing larger-size demand.
Supply: Several local independents + one regional operator; broader aggregators show a dense ring if you include outlying towns. On balance, Thomson looks competitive but not oversaturated.Demand: With steady local population, plus pass-through/blue-collar movers and lake/RV use cases, demand should be durable — but it must be captured (SEO/maps), converted (reviews/UX), and priced correctly by unit/size. (Your current pricing suggests you’re the value leader; conversion friction — not price — is the likely drag.)
Ensure separate Google Business Profiles for each site (Black & Bussey) with unique photos, services, and “Rent Online” CTAs; post weekly updates and promos; ask every move-in for a review via SMS link. Black already shows strong review count; Bussey needs reviews fast (goal: first 15 in 30 days). Keep first-month-free on sizes with high vacancy; for sizes that routinely show “Only X left,” swap to 2nd month 50% off or free lock + admin instead.Bussey 10×10 @ $49: test A/B $49 vs $59–$69 with identical promo; the market average and Smile’s pricing give you room without hurting conversion. Run radius-tight Google Ads (7–10 mi) on exact-match terms (“storage thomson ga”, “10x10 storage thomson”, “boat storage thomson”); daypart call-only ads 9a–8p.List/refresh inventory on SelfStorage.com / StorageCafe / SpareFoot for incremental leads while occupancy <80%. Boat/RV: Black Street offers RV/boat parking — target Clarks Hill/Strom Thurmond boaters with seasonal ads; add boat/RV landing sections and photo proof on both pages. (Your Black St. page already references local lake use.) Trades & small biz: Offer contractor bundles (shelving + pallet delivery acceptance), weekday gate-access messaging, and invoice terms for repeat renters.On Bussey’s page, push visible unit availability grids higher, add “from $X” badges per size, and embed a sticky “Call to Rent” button.Add a “Price Match + 10% off first paid month” badge to counter Blue Sky/Smile comparisons. If you’ve got chronically vacant 10×20/20×20, consider converting a few to 10×10 (divider walls) or portable 8×10s to match proven demand for mid-sizes.Build a referral flywheel: $25 gift card for referrals from nearby apartments, mobile home communities, and U-Haul dealers (there are multiple in town). Bussey: prioritize 15 new 5-star reviews (ask at move-in and after gate code is issued). Black already has 50+ reviews; pin 3 best to the page.
You’re price-competitive (even underpriced) versus market averages and a key local competitor, yet occupancy is still ~63% — so the gap is lead volume and conversion, not headline price.
Blue Sky Self Storage – Thomson (1840 Dallas Dr.) – A large, modern facility operated by Blue Sky (a regional chain). It offers all drive-up units and vehicle/boat parking, with extended gate hours (6AM–10PM) and on-site U-Haul truck rentals. Blue Sky’s Thomson site is conveniently located at I-20 exit 172 (Carl Sanders Hwy) and is a highly visible, interstate-adjacent property. This facility appears to be the largest in town (likely a couple hundred units), catering to both local and highway corridor demand.Storage Depot – Thomson (Black Street & Bussey Avenue locations) – Storage Depot, a multi-state operator, runs two smaller facilities in Thomson. One is on Black Street (118 Black St.) and offers a mix of climate-controlled and standard drive-up units, plus some outdoor parking. The other is a newer site on Bussey Ave. (304 Bussey Ave.) that opened recently (listed with 0 customer reviews to date, indicating a brand new facility). These facilities are mid-sized and serve in-town residential needs. They maintain staffed “customer care” hours into evenings and online rentals for convenience.Pook’s Self Storage (1059 Wrightsboro Rd.) – A local independent facility (branded on some sites as “Storage Depot” as well) with around 74 drive-up units (mix of 10×10 and 10×20). It was built in 1996 and spans ~11,100 sq. ft.. Pook’s is a smaller, older storage property on a commercial corridor (Wrightsboro Rd.) and offers 24-hour gated access and online bill pay. As of mid-2025, this facility was marketed for sale as a value-add investment, suggesting its occupancy or rates could be improved to meet rising demand.
Blue Sky Self Storage – Thomson: Blue Sky currently advertises a 10×10 drive-up at $79/month standard, but with a “$1 first month” promotion that effectively brings the move-in cost down and yields ~$56 for the first two months (they show $79 crossed out to $56 for initial billing). They list 5×10 units at $58 standard, also offering $1 for the first month. In essence, Blue Sky is using deep first-month discounts to attract customers, after which the rate goes to market level (around $79 for a 10×10). A 5×5 at Blue Sky was around $20 (presumably a drive-up 5×5) with specials – extremely low, likely reflecting a promotion or effort to fill small units. Blue Sky’s larger sizes (e.g. 10×20 or outdoor parking) were advertised around $56 for a 12×30 parking spot and roughly $120 for a 10×20 unit (not explicitly listed on their site snippet, but SpareFoot data above suggests ~$120).Storage Depot (Black St.): At the Black Street facility (managed by Pook’s/Storage Depot), recent rates included 5×5 climate-controlled units at ~$23/month – an extremely low entry price. A standard 10×10 drive-up was around $56/month, essentially identical to Blue Sky’s discounted rate. They also offer vehicle parking (e.g. a 15×30 outdoor space) for about $33/month, which is very cheap for vehicle storage (likely an uncovered lot space). The Bussey Avenue location showed 10×10 units at $56 and 10×20 at $92/month on one listing. These numbers indicate that non-climate 10×10 units in Thomson cluster in the $55–$65 range, and climate-controlled small units (5×5, 5×10) are also very affordable ($20s to $40s). Storage Depot appears to be pricing aggressively low on certain sizes (possibly due to competition or to lease up the new facility).Other Competitors: The Warrenton facility (USA Storage) nearby had 5×10 units around $44. In Augusta (20+ miles away), facilities like Public Storage charge higher rates (e.g. $80–$100 for a 10×10). This reinforces that Thomson’s local rates are considerably lower than the metro Augusta prices, which makes sense given Thomson’s lower land costs and incomes.“First Month $1” or Free: Blue Sky Self Storage prominently offers the first month for $1 on various unit sizes. This is a common promotional strategy (mirroring Public Storage’s famous $1 move-in) to reduce friction for new renters. It effectively lowers the customer’s cost to almost nothing for the initial month, after which regular rent kicks in. This indicates there is available inventory (facilities at 100% full rarely offer deep discounts). The fact Blue Sky is using this promo suggests they are actively leasing up or competing for tenants.Discounted Rates: Some facilities list “Web Specials” or permanently low teaser rates. For example, Storage Depot’s climate 5×5 at $23 is extremely low – possibly a web special to hook new customers. We did not see explicit “50% off 3 months” deals advertised, but the pricing itself (and included insurance or admin fee waivers) may be structured as a discount. Military discounts are also offered (Pook’s site mentions a military discount for service members), which can bring in military personnel from nearby bases.No Deposits & Month-to-Month: While not a “promotion” per se, it’s standard in this industry and likely all Thomson facilities offer no long-term lease (month-to-month) and no security deposit. This flexibility is attractive to the local renter demographic and is advertised implicitly (e.g. “Affordable month-to-month units—Rent today!” on Storage Depot’s site).Free Locks or Supplies: Some nearby facilities (Augusta) advertise a free lock on move-in. Thomson’s operators might do this at the counter, though it wasn’t explicitly advertised online. They do advertise selling moving supplies on-site (Blue Sky sells boxes/tape), and sometimes facilities will throw in a free lock or use of a handcart as a perk.The older, established facilities appear to run at high occupancy (near full). The Storage Depot Black Street site even has a “Join the Waitlist” option for units that aren’t immediately available. This implies certain unit sizes are fully occupied and new customers have to sign up for availability. A waitlist is a strong sign of healthy demand outpacing supply for that size or facility.Blue Sky’s aggressive promotions suggest they had some vacancy (possibly as a newer facility or after an expansion) that they are working to fill. However, Blue Sky’s large number of customer reviews (nearly 400) and high ratings indicate it has attracted a lot of tenants, implying they have leased a substantial portion of their units. High occupancy with occasional turnover is likely – hence the ongoing $1 promo to keep new rentals coming as others vacate.On a macro level, self-storage occupancy nationally peaked around 95–96% in 2021, then dipped in 2023 as new supply delivered and pandemic-era renters moved out. By mid-2024, U.S. average occupancy was reported around 85–90% (estimates vary). The REITs reported same-store occupancies around 90–93% in late 2024. For Thomson, given its limited new supply and steady demand, it’s reasonable to assume the facilities operate in the 90%+ occupied range in general. The fact that a new facility was built (Bussey Ave) implies the existing ones were effectively full and the market needed more space.Anecdotally, none of the Thomson facilities appear desperate for renters (no “2 months free” extreme promos, no closure or repurposing of facilities). This suggests healthy occupancy and cash flow. The one facility on the market (1059 Wrightsboro Rd) was advertised as having upside through occupancy gains – it may have had vacancy that a new owner could fill. This could mean that facility was underperforming (perhaps <80% occupied) compared to others, which an active operator could improve. In general, smaller older properties can lag in occupancy if not marketed well, while newer ones like Blue Sky likely achieve high occupancy quickly with marketing.
2020–2021: Surge in demand (people moving, decluttering, etc.) likely filled units. Thomson’s facilities may have achieved ~95%+ occupancy during this time.2022–2023: Some normalization; perhaps occupancy dipped a few points or just stayed high but with more churn. The new Blue Sky facility (if it opened around 2021 or 2022) would have initially created temporary excess capacity, but was largely absorbed by 2023.2024: With the new Bussey location opening, occupancy across town might have briefly diluted (units to fill), but by late 2024 demand caught up. The waitlist at one facility and continued marketing imply that by 2024 end, any dip was minor.2025: A renewed uptick is expected. Nationally, Q1 2025 saw REIT occupancies climb again – Extra Space reported 93.7% occupancy, up 100 bps from a year prior. If Thomson’s facilities were, say, ~90% a year ago, they might be ~92–95% now. Essentially, occupancy is hovering near full, with only normal vacancy for turnover.
Online Listings & Aggregators: All major facilities are listed on online search platforms. For example, Blue Sky Self Storage is marketed on SpareFoot, SelfStorage.com, RentCafe, etc. – ensuring that when someone searches “storage units in Thomson,” Blue Sky appears with pricing and the ability to reserve online. In fact, SpareFoot’s Thomson page highlights Blue Sky first (with special rates and an e-rental option). This digital marketing is crucial, as many customers start their search via Google or SpareFoot. Storage Depot’s facilities are also integrated into aggregator sites (they show up on Yardi’s StorageCafe and likely feed into SpareFoot’s network under the name “Copper Safe Storage” or “Storage Depot”). By being on these platforms, Thomson facilities gain broader visibility and benefit from comparison shopping traffic.Website & SEO: Each operator maintains a website or web page for direct rentals. Blue Sky has a polished site with SEO-optimized content (mentioning Thomson, I-20, highways, etc. for search engine relevance). Storage Depot/Pook’s has an online rental portal as well. These sites often highlight features (security, 24/7 access) and allow customers to “Move In” or reserve units online instantly, a convenience factor that is increasingly standard. Notably, Pook’s site offers online account management and bill pay to streamline the customer experience. Emphasizing an easy online process is a key strategy to capture tech-savvy renters (even in a small town, people appreciate not having to visit an office to sign up).Search Engine and Map Listings: All facilities have Google Business listings, which is crucial for local marketing. When searching on Google Maps for “storage near Thomson,” one sees listings for Blue Sky, Storage Depot, etc., with reviews, photos, and contact info. Ensuring accurate info and positive reviews on Google is a priority for these businesses, given that word-of-mouth in 2025 often comes via online reviews.Reputation Management (Reviews): Thomson facilities actively manage their reputations online. For instance, Blue Sky Self Storage – Thomson has nearly 400 Google reviews with an excellent 4.9★ rating – a remarkably high review count for a facility in a small city. This is likely the result of a deliberate campaign (possibly using a platform like Birdeye) to solicit customer feedback and boost online ratings. Indeed, Blue Sky began using Birdeye software in 2024 to improve from 281 reviews (4.7★) to 399 reviews (4.9★) by late 2025. Such a strong Google rating not only builds trust with prospective tenants but also improves visibility in local search results. Storage Depot’s Black Street facility has ~53 Google reviews at ~4.5★ (as shown on their site), indicating they too have encouraged customers to leave feedback. The emphasis on Google reviews and ratings is a key part of local marketing – good reviews can sway a potential renter to choose one facility over another. There’s also a presence on other review sites: SpareFoot displays customer star ratings for facilities (Blue Sky shows 1 SpareFoot review on the listing, Public Storage in Augusta has a few reviews, etc.). However, Google is the primary review platform in use.Promotional Advertising: As discussed in the pricing section, promotions like “1st Month $1” are heavily advertised online. Blue Sky’s listings clearly call out “$1 first month rent” on certain units in big text. This acts as an advertisement in itself – drawing clicks and inquiries. Facilities also advertise “Contactless Rental” and “Online Special” on aggregator sites, leveraging the COVID-era shift to contact-free service as a selling point. For example, SpareFoot tags Blue Sky and others as “CONTACTLESS” and “E-RENTAL” available. This assures customers that they can complete the lease digitally and access their unit without in-person paperwork.Local Outreach & Social Media: On the community level, some operators use social media and local networks. Pook’s Self Storage maintains a Facebook page where they share updates (e.g. posting about new signage and parking expansion in Oct 2023). This not only advertises improvements (signaling the facility is modernizing) but also engages the local audience. They might post promotions or respond to community posts (“tag us if you need storage,” etc.). Additionally, being active in the Chamber of Commerce or local events is a tactic (though we don’t have specific evidence, small-town businesses often sponsor local sports teams or events to keep their name out there).Signage and Location Advertising: Each facility benefits from its location for passive marketing. Blue Sky, for instance, is right off a major Interstate exit and has signage visible to highway traffic – a huge advantage. Travelers or new movers driving into town see the facility, which reinforces awareness. Storage Depot’s Black St. site is within town and likely has signage on a well-trafficked street (Black St. intersects Main/Wrightsboro in town). Good lighting, clean appearance, and eye-catching signs (“Self Storage” with phone number) are basic but important marketing tools. Pook’s put up new signage to increase visibility, indicating they see value in curb appeal. Some facilities might also use reader-board signs to advertise “1st Month Free” or “Call for Special Rates” to passersby.Targeted Promotions: We’ve noted military discounts (Pook’s offers one). This is likely advertised on their website or at the facility to attract military families from Fort Gordon. They may require a military ID for a percentage off each month. Similarly, some storage operators give student discounts (e.g. for college students on summer break) – not sure if Thomson does, but if there are students (perhaps from Augusta University or local community colleges) storing items over summer, a student special could be employed. We didn’t see it explicitly, but it’s a common strategy in many markets.Leasing Process & Customer Service: Thomson facilities highlight features like 24/7 access (Pook’s gives tenants round-the-clock gate access) and high security (video surveillance, gated entry) to build confidence. These points are always mentioned in marketing copy to differentiate from simply “someone’s shed.” For example, Pook’s site has a section “All the Convenience and Security You Need” listing 24-hour access, digital surveillance, online bill pay, etc.. This is essentially marketing messaging to assure customers their items will be safe and that renting is hassle-free. By promising “Great Customer Service” and a “Clean, ready-to-rent unit”, they address common concerns and present a professional image.Referral and Word-of-Mouth: While not advertised online, many self-storage places have referral programs (e.g. “refer a friend, get $xx off”). It’s possible Thomson facilities do something similar internally, especially given the small community where word-of-mouth is powerful. A satisfied customer base (as evidenced by high ratings) itself becomes a marketing asset as they tell friends/family or local Facebook groups about where to store.Use of Multiple Listing Services: Thomson operators list their units on multiple platforms simultaneously. We saw Blue Sky on Storage.com and StorageCafe/RentCafe (Yardi’s network) in addition to SpareFoot. This broad coverage ensures they “catch” customers no matter which website or app is used to find storage. It also prevents any one competitor from monopolizing online leads.Dynamic Pricing & Revenue Management: On the backend of marketing, facilities use revenue management systems that adjust prices frequently based on occupancy – which is why online one might see “1 unit left at $X”. By showing scarcity, it creates urgency for customers to reserve, which is a subtle marketing tactic. The dynamic pricing also means if demand surges, the listed rates will go up (and vice versa). This is not directly seen by customers as marketing, but it’s part of the leasing strategy to maximize revenue.Cross-Promotions: Blue Sky’s integration with U-Haul is a noteworthy strategy. They act as a U-Haul rental location, which not only provides additional revenue but also drives storage rentals (people renting a moving truck often need storage, and vice versa). By being a one-stop moving solution (truck + storage + supplies), Blue Sky markets itself as the convenient choice. They likely get U-Haul’s marketing support (listed on U-Haul’s website as a storage partner), further boosting visibility.
Mansfield (T10) – A standout performer, +89% YoY increase in October revenue. Mansfield was a newer acquisition in 2024, so it’s now benefitting from a full occupancy ramp-up. It has maintained stable occupancy and added no net new units this month (indicating it was likely near full to begin with).Albertville (T10) – MTD revenue is up +77% YoY, with a net +3 units gained so far in October. Albertville continues to grow on top of already high occupancy (it was one of the top gainers in Q3 as well).Monroe (T10) – Revenue approx. +77% YoY (another site that has grown dramatically from last year). Net +2 units in October. Monroe’s strong leasing activity and rate growth put it among the top performers.Fort Payne (T10) – Revenue up +73% YoY. No net change in unit count (0 net rentals), which implies it’s holding steady at high occupancy. The revenue jump suggests higher rental rates or improved collections versus last year.Franklin (T10) – MTD revenue ~+30% YoY. Franklin did have a slight dip in occupancy (net –1 unit in October), but still shows strong revenue growth – possibly due to rate increases offsetting the one move-out.Hampton (T10) – Revenue up +32% YoY with flat net rentals (0). Steady occupancy and improved rates are contributing to growth.Hiawatha (T10) – Revenue ~+35% YoY. Saw a small net loss of –1 unit; however, like Franklin, its income is higher than last year, indicating it’s renting at better rates or fewer concessions this year.Danville (T10) – Revenue up +26% YoY and net +2 units. Danville is performing well on both occupancy and revenue – it moved in more tenants this month and grew revenue by roughly a quarter over last year.Yorkville (T10) – Revenue ~+29% YoY (one of the smaller T10 gainers, but still robust growth). Net rentals 0 (holding occupancy steady). Yorkville continues to contribute positively, albeit with less dramatic growth than some others.
Cleveland (SSD) – A top performer in SSD: MTD revenue is up +52% YoY. Cleveland did not add net units in October (net 0), meaning the revenue jump likely comes from higher rates and better collections. This indicates strong demand at existing occupancy (around 81% occupied) and effective rent increases.Phenix City (SSD) – Healthy growth of ~+21% YoY in revenue. Net +1 unit so far. Occupancy is around 79%, so with continued leasing it’s contributing steadily.Panama City FL (SSD) – Revenue up +32% YoY and net +2 units. This site is performing well on both fronts – it’s filling units and growing income significantly versus last year.Cahaba (SSD) – ~+10% YoY revenue increase, net +2 units. Moderate growth; occupancy (~76%) is improving gradually. Cahaba’s trend is positive but there is room to accelerate (perhaps with pricing tweaks).McCalla (SSD) – ~+19% YoY revenue, net +2 units. Solid performance, with occupancy in the low 80s%. Continues to lease up and drive revenue concurrently.Okoboji IA (SSD) – Revenue ~+12% YoY, net 0 units. Notably, Okoboji is one of the fullest sites (≈89% occupied), so although it didn’t gain new tenants this month, it’s maintaining near-full occupancy and still grew revenue. This suggests recent rate increases or ancillary revenue growth – a sign of a stable “cash cow” site.Griffin GA (SSD) – A mixed picture: –31% YoY revenue decline in early October, despite net +3 units gained. This anomaly is likely due to heavy move-in promotions or rent discounts being used to boost occupancy. In fact, last year this time Griffin had fewer move-ins but collected more cash; this year, management added 3 tenants but with concessions (hence lower collected revenue MTD). The good news is occupancy (about 63%) is moving up; the downside is revenue is temporarily lagging. Griffin remains an opportunity site – once those new tenants start paying full rent, revenue should catch up.Thomson GA (SSD) – Another opportunity site: MTD revenue is slightly down 3% YoY even though Thomson added +2 net units and is only ~63% occupied. Like Griffin, Thomson significantly cut discounts YoY (only $265 in discounts this month vs over $1,000 last year), yet revenue is essentially flat. This suggests it may have lowered rates or pro-rated rents to attract move-ins. The upside is that occupancy is improving; filling more of its 205 units (only 130 occupied now) will position Thomson for future revenue growth.Harpersville AL (SSD) – Harpersville has the lowest occupancy in the portfolio (~52% full). It showed a +59% YoY revenue uptick MTD (from a very low base) and held steady with net 0 change in units. Essentially, Harpersville is stabilizing but not yet truly turning the corner – half the facility (76 vacant units) remains empty. This is a major “most opportunity” site. Management’s focus here is likely on marketing and promotions to drive occupancy. The YoY revenue growth indicates improvement over last year’s start, but capturing the remaining 48% vacancy is the real prize ahead.Monteagle TN (SSD) – Another low-occupancy facility (~60% occupied). Monteagle’s revenue is up ~33% YoY and it has net 0 new tenants in October. Like Harpersville, it’s improving financially but still has a large vacancy buffer. There’s significant upside if demand in that market can be tapped to fill units.Elizabethton TN (SSD) – Revenue ~+16% YoY, but net –2 units (a slight backslide in occupancy). Currently ~78% occupied, Elizabethton gave up a bit of occupancy after a strong Q3. It may need attention to ensure it doesn’t lose more ground. On the positive side, even with 2 fewer tenants, it earned more than last year (indicating higher rents or lower delinquencies YoY).LaFollette TN (SSD) – Revenue ~+16% YoY, but also net –2 units. LaFollette is relatively well-occupied (~85%) and likely had some move-outs after the summer. Its YoY growth remains decent, but regaining those two tenants (or more) will help finish the year on a high note.Valley AL (SSD) – Slight growth (~+2% YoY revenue) with net 0 change in units. Valley is ~77% occupied and fairly stable. It hasn’t shown much YoY improvement (flat revenue and no occupancy gain so far this month), marking it as another site that could be pushed harder. Perhaps rates were already near market and occupancy hasn’t grown – an opportunity to re-evaluate marketing or pricing.
Share
Explore
251008 Storage Depot Meeting Notes
View 2 of Agenda 2
Done
Search
Done
Topic
Notes
Date
Added by
West Valley homeless issue, sealing vacant units, do we need motion sirens, cameras are being damaged, night light audit
Wed, Aug 13
Pics of West Valley Office; having property rekeyed
Wed, Aug 13
Unrentable, pics of units
Wed, Aug 13
Hampton Lender Obligations, asphalt, metal grates and roofing which is done, sent email to Cohen for more info
Wed, Aug 13
Look into unit mix at Taylors, occupancy down unit occupancy flat
@Ernest Gomez
Wed, Aug 13
🔴 Tier 1 – Highest Financial Impact (Largest NOI Gaps)
Wed, Sep 24
Griffin, GA (SSD): Severe Q3 occupancy loss (-31 units). NOI drag from high delinquency write-offs + vacancy.
Wed, Sep 24
Greenville, SC (GLS): NOI miss from occupancy losses (net -13 units Q3), revenue below budget, expenses slightly elevated.
Wed, Sep 24
SSD Portfolio Low Occupancy Sites (collectively): Harpersville, Thomson, Monteagle – while smaller individually, combined drag on SSD’s NOI (largest portfolio shortfall).
Wed, Sep 24
🟠 Tier 2 – Moderate Impact, Needs Focus
Wed, Sep 24
Hampton, GA (TSP): Occupancy dropped YoY, net -6 in Q3. NOI below plan despite TSP portfolio gains elsewhere.
Wed, Sep 24
Elizabethton, TN (SSD): Q3 net -11 units due to seasonal/student churn; revenue dip in short term.
Wed, Sep 24
Panama City, FL (SSD): Occupancy improved YoY but flat in Q3, leaving revenue short of budget.
Wed, Sep 24
🟡 Tier 3 – Lower Impact but Watch List
Wed, Sep 24
Danville, IL (TSP): Occupancy stagnant ~70%; NOI underwhelming. Smaller revenue site, but opportunity cost if not improved.
Wed, Sep 24
Monteagle, TN (SSD): Flat occupancy ~60%, NOI lagging. Small site, so limited financial impact, but symbolic of execution issues.
Wed, Sep 24
There are no rows in this table
Bottom line: Momentum is strong. Keep pricing discipline where occupancy is high (T10, Taylors, Layton) and deploy targeted lease-up + promo tapering at the laggards (Harpersville, Monteagle, Griffin, Thomson, Greenville) to lock in a record 2025 and set the table for 2026.
Thomson, GA self-storage — quick take
What to do now (Thomson playbook)
Bottom line: Thomson is balanced on supply, value-priced, and demand is there. With tighter local SEO, calibrated promos, and small rate tests by size, your Black St. & Bussey Ave. sites should accelerate net rentals and lift effective rent through Q4 and into 2026.
Rate Increases
Table 5
Portfolio
Units with Scheduled Increases
Avg $ Increase
Avg % Increase
Total Revenue Impact ($)
GLS
68
$16.34
22.9%
$1,111
SDU
81
$17.77
16.8%
$1,439
SSD
371
$18.58
22.6%
$6,892
T10
656
$20.83
26.6%
$13,664
There are no rows in this table
📈 Portfolio Totals
Market context: supply, demand & pricing
Local competitors (in/near 30824):
Demand & population backdrop
Rate positioning (your sites vs market)
What this says about supply & demand
Moves to win more rentals in Thomson (quick hits you can deploy now)
1) Win the local “map pack” (GBPs) for both addresses
2) Tune the offer — keep the hook, improve LTV
3) Right-size your paid demand capture
4) Lean into use-cases that fit Thomson
5) Smooth the online path to “rent now”
6) Operational tweaks
7) Reputation & trust
Bottom line for Thomson
October MTD Performance & Year-End Outlook for Storage Depot Portfolios
Overall October 2025 MTD Performance (All Portfolios)
In the first part of October 2025, all Storage Depot portfolios are showing solid growth in rental revenue compared to the same period last year. Across the board, month-to-date (MTD) rental receipts are up significantly year-over-year (YoY). Notably, the T10 portfolio leads with roughly a +44% YoY increase in MTD revenue, while SSD and SDU portfolios are each up around 15–16%, and GLS is up about 24%. Net unit absorption is positive in most portfolios as well – T10 sites gained a net +5 units collectively in the first week of October, SSD gained +8, GLS +2, though SDU saw a slight net loss of -3 units across its facilities. Overall occupancies remain healthy but with room for improvement in certain portfolios: for example, SSD sites average ~75% occupancy, versus ~84% in SDU and ~77% in GLS (T10 occupancy is high at most sites, as reflected by their strong net rentals and revenue growth). The focus now is on sustaining this momentum through Q4 and closing the gap at lower-occupancy sites.
Below we break down performance by portfolio – T10, SSD, SDU, and GLS – including site-level metrics (MTD revenue, net rentals, YoY growth, etc.), followed by a projection of year-end results and identification of the strongest performers (“winners”) and the sites with the most upside (“opportunities”).
Thomson, GA Self-Storage Market Analysis
1. Supply Analysis
Facility Count and Square Footage: The city of Thomson, GA (pop. ~6,900) is served by only a handful of self-storage facilities (approximately 3–4 in town), though around 20 facilities exist within a broader 20–25 mile radius (including neighboring towns and the Augusta area). Within Thomson itself, we estimate the total rentable storage square footage at roughly 50,000–60,000 sq. ft., which equates to about 7–8 square feet of storage per capita. This is in line with (or slightly below) the U.S. average of ~7.6 sq. ft. per person. By comparison, many well-supplied markets average 8–9+ sq. ft. per capita, so Thomson’s supply is about average and not obviously overbuilt.
Major Facilities and Operators: Self-storage in Thomson is dominated by regional and independent operators; no major publicly-traded REITs (e.g. Public Storage, Extra Space, CubeSmart) have a facility in the city. The primary facilities include:
In addition to the above, there are a few other nearby options just outside Thomson: for example, USA Storage Solutions in Warrenton (~8 miles west) and several facilities in the fast-growing Grovetown/Evans area to the east. The absence of any REIT-owned stores in Thomson underscores that the market is served by local/regional players (Blue Sky, Storage Depot, etc.) and independents. This also means no immediate influx of corporate supply; new development has been limited. The most recent addition to supply was Storage Depot’s Bussey Avenue site in 2024–25, expanding local inventory modestly. Beyond that, we found no announced large self-storage developments in Thomson or McDuffie County in public records. The current supply pipeline appears minimal, apart from small expansions or facility improvements. Overall, Thomson’s storage supply has grown cautiously, roughly keeping pace with demand without major overbuilding.
Square Footage per Capita: With our estimated ~50–60,000 sq. ft. serving ~7k people, Thomson’s per capita storage supply is roughly 7–8 sq. ft. This is about on par with national and Georgia averages (the U.S. average is ~7.6 sq. ft. per person as of late 2024). For context, many rural/semi-rural markets fall in the 5–8 sq. ft. range, whereas storage-heavy Sunbelt metros can exceed 9–10 sq. ft. per capita. Thomson’s figure suggests a balanced supply – neither severely under-served nor saturated. It’s likely the recent new facility was added to keep the supply/demand balance in check as population and usage grew. We will see in the demand section that local demographics (high renter percentage) support a healthy baseline demand that these few facilities satisfy.
Known & Planned Developments: Aside from the Bussey Ave Storage Depot (new in 2025) and some upgrades at Pook’s Self Storage (which added new signage and expanded parking storage in late 2023), there are no major projects known in the pipeline. The lack of planned multi-story climate mega-facilities is not surprising given Thomson’s size. Most operators are focused on incremental improvements: for instance, Pook’s has been improving its property (new parking for RV/boat storage, etc.) to capture additional demand. Any future development will likely be small expansions or a new single-story facility if demand upticks. We did not find evidence of any REITs or large developers targeting Thomson, indicating the market will continue to be served by local providers in the near term.
In summary, Thomson’s storage supply consists of 3–4 facilities totaling ~50k sq. ft., run by regional/local operators. Square footage per capita is roughly average, and no oversupply conditions are evident. One facility is actually being marketed as an opportunity to increase occupancy and revenue, implying the market can absorb more demand. With modest growth and stable occupancy (see Demand section), the supply situation appears stable – recent additions have matched needs, and any future projects will likely be similarly scaled to avoid glut.
2. Demand Drivers
Population Size & Growth: Thomson is a small city of about 6,900 residents (2025 est.), comprising roughly one-third of McDuffie County’s population (county ~22,000). The city’s population has been essentially flat to slow-growing (~0.3% annual growth) in recent years. Since the 2020 Census (pop. 6,801), Thomson gained roughly 1.4% by 2025. McDuffie County overall is relatively stagnant (projected 21,668 in 2025, with a slight −0.4% annual decline since 2023 in one estimate), indicating that most growth is concentrated in the city proper. In short, Thomson’s population is stable to gently rising, providing a steady base of potential storage users but not a rapid influx. For context, nearby Columbia County (Augusta suburbs to the east) is growing much faster; Thomson’s growth is modest in comparison.
Household & Demographics: There are approximately 2,800 households in Thomson. A key demand driver for self-storage is the high share of renter-occupied housing in the city. About 46–47% of Thomson’s occupied housing units are rentals, which is well above the national renter share (~35%). (In July 2025, Thomson had ~1,209 renter-occupied units vs 1,603 owner-occupied.) This elevated renter ratio is significant because renters tend to move more frequently and have less storage space at home, driving storage usage. In fact, Thomson’s homeownership rate is only ~53.5%, notably lower than the U.S. 65% average. Many of these renters live in apartments or smaller homes and may need storage for overflow belongings during moves or life transitions.
Thomson’s median household income is around $43,000 (ACS 2019–2023 data), which is relatively low (roughly 60% of the Georgia median of ~$74k). The per capita income is about $20k–$24k. This indicates a modest income level; while lower-income households have fewer discretionary funds, they also often live in space-constrained housing, potentially increasing demand for affordable storage units (especially small units). Storage operators in such markets often compete on price and flexible terms to attract cost-conscious customers. The poverty rate in Thomson is roughly 25%, so price sensitivity is a factor – many facilities use discounts (discussed later) to accommodate this.
In terms of age distribution, Thomson skews slightly younger than the nation. The median age is 34.8 years. There is a significant young adult population – about 28% of residents are in the prime renting/moving age brackets of 20–39 – and roughly 14% of residents are seniors (65+). This mix is favorable for storage demand: younger adults and families often rent units during moves, early-career transitions, or when combining households, while seniors may use storage when downsizing or for inheritance items. Thomson’s age profile (a mix of young renters and long-time older residents) provides diverse demand – from college-age individuals (though Thomson itself isn’t a college town, some attend nearby Augusta universities) to retirees. Notably, the mobility rate in Thomson has been low – only ~4.5% of residents lived in a different home a year ago, far below state and national averages (~13%) – which suggests many residents are long-term. Low mobility can temper storage demand from “move-driven” usage. However, even stable households may use storage for decluttering or business needs.
Population Density & Housing: Thomson is fairly dense for a small town (~1,470 people/sq mi), with many homes in town being older and lacking large storage spaces (median home size/value is modest – median home value ~$135k). Additionally, some of Thomson’s housing is sub-sized or multi-family: this can push residents to rent storage for items that won’t fit at home. The city’s vacancy rate is around 8.5%, which is normal – neither a tight housing crunch nor high vacancies. This means moves do happen without huge difficulty, and moving often triggers storage needs (to stage homes, store belongings between residences, etc.).
Economic & Employment Base: Thomson’s economy is anchored by manufacturing, distribution, and agriculture, which indirectly contribute to storage demand. The most common employment sector for Thomson residents is Manufacturing (about 587 jobs), followed by Retail Trade (447 jobs) and Accommodation/Food Services (317 jobs). Major employers in McDuffie County include Shaw Industries (a carpet/flooring plant), Thomson Plastics (plastic components manufacturing), HP Pelzer Automotive (auto parts), an Advance Auto Parts distribution center, and large horticulture nurseries like R.A. Dudley Nursery and McCorkle’s Nursery. Additionally, the McDuffie County School system and local government are significant employers.
These industries create a relatively stable workforce. Stable employment supports steady housing demand (people putting down roots) but can also lead to storage use in specific ways. For instance, manufacturing and distribution workers may use storage for tools or recreational vehicles, and the plant nurseries or contractors might rent units to store equipment and seasonal inventory. We might expect some commercial storage demand from small businesses – e.g. landscapers storing supplies or retailers using a unit as back-stock space. The presence of two large plant nurseries suggests a need for outdoor/drive-up units (for storing equipment, fertilizers, etc.) – local facilities indeed emphasize drive-up access and even offer outdoor parking for business vehicles.
Another factor is Thomson’s regional location. It lies along I-20 roughly 30 miles west of Augusta. Some residents commute to the Augusta metro for work. Thomson is within driving range of Fort Gordon (a major U.S. Army base in Augusta) – about a 30-minute drive. This could bring some military storage demand from personnel who choose to live off-base in Thomson or who store belongings during deployments. Military members are known storage users (often taking advantage of month-to-month leases during moves). While Fort Gordon’s influence is not huge in Thomson, it is a factor – facilities like Blue Sky market to military (offering a military discount).
Thomson’s population growth drivers are limited but positive: affordable housing and employment opportunities keep people in the area, and spillover growth from Augusta/Columbia County may gradually reach Thomson. McDuffie County’s Economic Development Authority projects industrial job growth of ~15% in the coming years, which could support slight population gains. More people (especially any new apartment developments or incoming workers) would translate to higher storage demand. Even absent strong growth, Thomson’s demographic profile – high renters, moderate incomes, and a mix of young and old – is fertile ground for self-storage usage. Renters and small households use storage to manage life transitions, and the local businesses add a layer of commercial demand (for inventory, files, equipment storage).
Summary of Demand Factors: In summary, Thomson’s storage demand is driven by a stable and slowly growing population, with a high proportion of renters (nearly half of households), moderate incomes (seeking value storage), and a stable employment base (manufacturing/distribution) that provides steady needs (and some commercial usage). The local lifestyle (small homes, some agricultural equipment, boat/RV owners) also creates demand for drive-up units and vehicle storage. For example, Thomson is near Clarks Hill Lake; residents or visitors may store boats/trailers in town. Facilities like Blue Sky offer 12×30 parking spaces specifically for boat/RV storage. All these factors contribute to consistent occupancy at local storage facilities, as we’ll discuss next.
3. Competitor Pricing and Occupancy
Current Rental Rates (By Unit Size): Self-storage rates in Thomson are generally affordable, reflecting the local income levels. We gathered current street rates from online listings for the major facilities and aggregators (SpareFoot, etc.). The table below summarizes typical monthly rents in Thomson for common unit sizes:
Table 6
Unit Size
Average Price
Lowest Advertised Price (Thomson)
There are no rows in this table
Source: SpareFoot average rates for Thomson over the past 180 days. “Lowest” refers to the cheapest available in Thomson (often a promotional rate).
As the table shows, a standard 10×10 unit in Thomson rents for around $70–$75 per month on average, with the cheapest around $60–$65 (often after a special). Smaller 5×5 lockers are in the mid-$20s. For larger 10×20 units, around $100–$120 is common. These rates are lower than national averages – for comparison, the U.S. average 10×10 was about $128 in 2023 (climate-controlled) or ~$110 (non-climate) in many markets. Thomson’s prices are roughly 30–40% cheaper than big-city rates, which aligns with its lower cost of living.
Competitor Pricing Examples:
Overall, Thomson’s self-storage rents are on the lower end, which likely boosts demand (people find it economical to rent a unit). The presence of deals (first month $1, etc.) means customers can secure storage at a very low upfront cost, which is important in this price-sensitive market.
Promotions and Discounts: Promotions are widely used by Thomson facilities to compete and fill units:
In summary, promotions in Thomson are heavily utilized – particularly the “$1 first month” and generally low intro rates. This indicates a competitive environment despite the small number of facilities. Each operator is vying for the same local customer base, so they entice with low entry costs. This is good for consumers and suggests that while demand is solid, there is enough spare capacity to warrant deals (i.e. the facilities aren’t 100% full at rack rate).
Occupancy and Demand Indicators: Hard data on occupancy (percentage of units rented) is not publicly available for these private facilities. However, we can infer occupancy conditions from a few clues:
In pricing strategy, operators appear to use dynamic pricing (common in the industry) – e.g. Blue Sky’s rates on SpareFoot were showing only 1 or 2 units left at a given price for certain sizes, implying they raise rates as units fill up. This yield-management approach keeps occupancy high while increasing rent when supply tightens.
Demand vs. Pricing: The relatively uniform pricing across facilities (all 10×10s around $55–$60 lowest, ~$70 average) indicates a market rate that has stabilized. If demand were weak, we’d see price undercutting (e.g. units for $40). If demand were extreme, we’d see no discounts and higher averages. Thomson seems to be in a middle ground: facilities stay full by keeping prices affordable. The use of promotions to ensure occupancy, and then likely moderate rent increases on existing tenants over time, is the playbook.
In conclusion, occupancy in Thomson’s storage facilities is strong – likely in the 90%+ range – with certain unit sizes waitlisted. Current pricing is competitive and relatively low, serving to attract price-sensitive customers. High occupancy with low rents suggests that operators prioritize keeping units filled (even if at lower margins), which fits a small-town strategy. There is little publicly available occupancy data, but all signs (waitlists, new builds, ongoing promos) point to solid demand that absorbs the available supply at the prevailing rent levels.
4. Market Trends
Rent Trends: After a period of significant rent growth in 2020–2021, the self-storage industry saw rent stabilization or slight declines in 2023–2024, and now a modest rebound in 2025. Thomson being a small market does not have its own tracked index, but it follows broader trends. Nationally, street rents peaked in 2022 and then softened by ~2–5% in 2023 as new supply came online and pandemic-driven demand normalized. By late 2024, the average U.S. storage rate per square foot had dropped ~2.3% year-over-year. In Georgia and the Southeast, many secondary markets also experienced mild rent dips in 2023.
For Thomson specifically, the introduction of a new facility likely kept a lid on price increases – new competition often means operators hold rates steady to fill up units. Indeed, Thomson’s current rates (detailed above) appear in line with what they were a year or two ago, indicating flat rents recently. However, industry signs in 2025 are pointing up: Major self-storage REITs reported that “demand has turned” positive in Q1 2025, with move-in rates flattening and even rising slightly again. For example, Extra Space Storage (nationally) saw its street rates in April 2025 equal to the prior year (0% change) after declines earlier, and Public Storage noted rental volume increasing. We can infer that Thomson’s rents in 2025 are likely stable and could tick upward as occupancy is strong. Any future rent growth will probably be gradual, given the need to remain affordable for local residents. Operators might implement small annual increases for existing tenants (common practice) once promotional periods end.
One trend is a widening gap between climate-controlled and non-climate unit rates. Thomson currently has very few climate units (only the Storage Depot Black St. site offers some climate control, at bargain prices ~$23 for 5×5). As elsewhere, if more climate-controlled space were added in Thomson, it would command a premium. For now, the market is predominantly drive-up non-climate, which keeps overall rents lower. If any trend emerges where a facility adds climate units (via conversion or new building), we’d expect a higher price point for those (perhaps 30–50% higher than standard units).
Another broader trend is smaller unit rates rising faster (on a per sq. ft. basis). SpareFoot data showed 5×5’s averaging ~$24 in Thomson – which is about $0.97/sq. ft., notably higher than the ~$0.59/sq. ft. for a 10×20 at $120. This is typical: the smallest units cost more per foot. Operators have been pushing those rates up because entry-level customers often only look at the monthly dollar amount. Thomson’s 5×5 and 5×10 rates are relatively high given their size (e.g. $54 for 5×10 is ~$1.08/sq. ft.). This suggests strong demand for small units (likely from apartment renters needing a closet of space). So a trend might be micro-units holding value or increasing, whereas large unit rents are kept lower to attract boat/RV and whole-house storage uses.
Occupancy Trends: As noted, occupancy peaked during the pandemic (many facilities full) and then eased a bit. In Thomson, occupancy likely remained high throughout, as evidenced by the need to build another facility by 2025. We don’t have exact historical rates, but qualitatively:
One local anecdote: Pook’s (Wrightsboro Rd) might have been lagging in occupancy (given it was marketed as value-add). A new owner could apply more aggressive marketing to bring it from perhaps ~80% to 90%+. If that sale closes and improvements are made, overall Thomson occupancy could effectively tighten further as that space gets utilized more fully.
Capitalization Rates & Investment Activity: Self-storage has been an attractive asset class for investors, and even small tertiary markets like Thomson see transactions. As mentioned, the 74-unit facility on Wrightsboro Rd was listed at $535,000 ( ~$48/sq.ft.). At that price, if stabilized, it likely reflects a cap rate in the high single digits (perhaps ~8%). In general, cap rates in tertiary markets like Thomson are higher (cheaper pricing) than in major cities. Nationally, by Q3 2024 the average self-storage cap rate was ~5.7%, with Class A properties in the 5% range. But Class C properties (older, smaller, rural) had a cap rate range of about 6.25% to 8.0% (avg ~6.75%). Thomson’s facilities squarely fall into Class B/C. We can infer that any sales in Thomson will transact around 7–8% cap rates. The marketed deal touting “occupancy growth and revenue optimization” suggests the current owner wasn’t charging peak rents or was not full – a new investor could raise NOI, effectively lowering the cap rate over time.
We did not find evidence of recent storage facility sales closing in Thomson (the listing is the main one, likely still on market as of Oct 2025). However, investor interest in secondary markets in Georgia has grown – many are looking for higher yield opportunities outside saturated metro areas. Thomson, being near Augusta, could benefit from regional investors expanding. There is also a trend of portfolio consolidation – companies like Copper Storage Management (Copper Safe Storage) have been acquiring small-town facilities and rebranding them. Notably, the aggregator listing showed “Copper Safe Storage – Thomson” for the Bussey Ave site, implying that facility may be under Copper Safe’s remote management platform. This reflects the trend of tech-enabled operators entering tertiary markets to roll up independents. If so, Thomson’s market may gradually see more professional management and possibly more standardized (and higher) rates as these portfolios optimize operations.
Development Trends: Across the U.S., storage development has cooled in 2024–2025 due to higher interest rates and sufficient supply in many markets. For Thomson, the barrier to new development is not just interest rates but demand size – a new facility must pull enough renters to justify cost. The recent addition of ~100+ units (Bussey) likely satisfies near-term growth. We expect no new large projects until the existing new space fills and the population grows or demand spikes. If Augusta’s expansion eventually spills over (e.g. if suburban growth extends toward Thomson), a larger, modern facility might be planned in future years. But for now, developers are likely focusing on bigger population centers.
Rental Rate Outlook: The outlook for Thomson is cautiously positive. With demand turning upward in 2025 and limited new supply on the horizon, operators have the opportunity to nudge rents upward gradually. We might see a few dollars increase on 10×10s over the next year (for instance, averages creeping from ~$71 to maybe ~$75). High occupancy will support these increases. However, any aggressive hikes could be checked by the competitive dynamic – if one facility raises rents too much, the others can poach customers with lower prices or specials. So, expect a continued pattern of modest rent growth, offset by ongoing promotions. In essence, effective rents (after discounts) may stay fairly flat even as posted rates inch up.
Occupancy Outlook: Occupancy should remain high. Barring a local economic downturn or overbuilding (neither expected at this time), mid-90% occupancy is likely to be the norm. Self-storage demand tends to be sticky even if the economy softens – people might downsize housing (increasing storage needs) or use storage while moving for jobs. Thomson’s steady population and lack of alternative storage options (like no basements in many homes, limited garage space in rentals) means people will continue to rent units. The risk of occupancy decline would come if, say, two new facilities opened at once – which is improbable here.
In summary, market trends for Thomson show stability: rents have been flat but could start to rise slightly as 2025 progresses, occupancy is strong and likely to stay very high, and investment interest exists at higher cap rates for value-add plays. Thomson’s self-storage sector is entering 2025 on a solid footing, with demand picking up momentum in line with national trends (e.g. increasing inquiries and move-ins). With new supply now absorbed, the market balance should tilt in favor of operators being able to tighten discounts and gently increase revenue.
One trend to watch is any regional investor activity: if that Wrightsboro facility sells to a new operator or if Copper Safe fully takes over the Thomson locations, we could see more standardized pricing and online marketing (which often accompanies new ownership). The influence of modern management might itself be a trend – e.g. remote-managed facilities (automated kiosks, etc.) in small markets. Copper Safe Storage is known for unmanned facility operation; the listing on storage sites under that name hints that Thomson’s new facility might be run in that model (keypad access, online rental only). This aligns with an industry trend of deploying technology to reduce costs in smaller markets.
Capitalization/Value Trends: As interest rates stabilized in 2025, storage cap rates have likely flattened (no longer compressing like in 2020–21). We expect storage values in places like Thomson to remain relatively steady, as buyer demand for high-yield storage is still strong but financing is more expensive. If cap rates hold around 7%–8% for Thomson, an owner’s best path to increase value is to increase NOI – which means raising rents incrementally and keeping occupancy full. That seems to be exactly what local operators are doing: maximizing occupancy through low rates then incrementally adjusting rates upward.
5. Local Marketing & Leasing Strategies
Thomson’s self-storage operators employ a variety of marketing and leasing tactics to attract and retain customers, with a heavy emphasis on online presence and promotions:
In summary, Thomson storage operators leverage modern marketing tools: strong online presence, reputation management, and promotional pricing, combined with local touches like military discounts and community engagement. Digital marketing is clearly a cornerstone – prospective tenants can find and rent a unit in Thomson completely online within minutes, which is a relatively new development for small-town self-storage. The facilities have kept pace with industry best practices: offering contactless rentals, advertising on aggregator sites, and maintaining high customer service standards (as reflected in reviews). This savvy approach is likely one reason the market maintains high occupancy – they are effectively capturing the demand that exists.
Reputation & Customer Experience: It’s worth highlighting how much the top operators focus on customer experience as part of their marketing. Blue Sky’s 4.9-star rating suggests they provide a very positive experience (clean units, friendly service, easy process). They likely encourage happy customers to leave Google reviews – a form of organic marketing. Likewise, Storage Depot’s site prominently displays its review score (4.5/5), using social proof to reassure new customers. By managing their reputations, these businesses turn their customers into marketing ambassadors.
Advertising Channels: Aside from online, some traditional advertising might be in play (local newspaper ads, radio spots on local stations, or flyers at apartment complexes). We did not find specific evidence, but those methods have historically been used. Given how comprehensive the online coverage is, old channels might be secondary. However, drive-by visibility and local reputation remain key in a town the size of Thomson, so ensuring the facilities look professional and are known in the community is crucial.
In conclusion, local marketing and leasing in Thomson’s self-storage market is characterized by a blend of aggressive online marketing, competitive promotions, and emphasis on customer convenience and trust. Each facility strives to differentiate slightly (e.g. Blue Sky with one-stop moving services and highway convenience, Storage Depot with climate units and multiple in-town locations, Pook’s with 24/7 access and personal touch). Yet all share the goal of making the rental process easy and attracting renters with great deals and great service. This has created a situation where, despite Thomson’s small size, storage customers have plenty of information and options at their fingertips, and the operators who execute best on marketing and service are capturing the market.
T10 Portfolio Performance (Top 10 Stores)
The T10 portfolio (9 facilities) is delivering the highest growth so far in October. MTD rental revenue for T10 is up about +44% versus last year. Overall occupancy is strong (most T10 sites are largely full), and the portfolio added +5 net units in the first week of October. Many T10 sites are far exceeding last year’s performance, a reflection of both increased occupancy and higher rates (with fewer move-in discounts needed this year):
Summary: The T10 portfolio is on a strong trajectory. Most sites are “winning” with double-digit revenue gains and solid occupancies. The few that saw slight occupancy declines (Franklin, Hiawatha) still achieved significant YoY revenue improvement, suggesting pricing power. With occupancy levels generally high, T10’s strategy has shifted to rate optimization over pure occupancy growth. This bodes well for maximizing revenue through year-end.
SSD Portfolio Performance (Storage Depot – SSD Group)
The SSD portfolio (14 facilities) is also growing, though more mixed compared to T10. October MTD rental revenues are up about +15% YoY in aggregate. Net unit absorption was +8 across SSD in the first week – a good sign that overall occupancy is rising, but this gain was unevenly distributed. Average occupancy for SSD sits in the mid-70s percentile (~75%), with several facilities near 80–85% but a few lagging far below that (as low as ~52%). The wide range in performance makes SSD a focus area for improvement. Key site highlights:
Summary: The SSD portfolio is performing adequately with pockets of excellence (e.g. Cleveland, Panama City) and several sites that are underperforming relative to their capacity (Griffin, Harpersville, Monteagle, Thomson, etc.). The good news is that all SSD sites are up or flat in revenue YoY except Griffin – so even the weakest are at least not losing ground financially. The primary opportunities lie in boosting occupancy at the low-filled sites (to convert empty units into revenue) and continuing to optimize the move-in rate strategy (e.g. balancing promotions vs. revenue, as the Griffin scenario illustrates). If SSD can carry the modest +15% YoY revenue growth through Q4 while lifting a few laggards, it will finish 2025 much stronger than 2024.
Want to print your doc?
This is not the way.
This is not the way.
Try clicking the ⋯ next to your doc name or using a keyboard shortcut (
CtrlP
) instead.