Market Share of North Carolina Self-Storage Industry
The North Carolina Self-Storage Market is moderately fragmented. Companies are competing for customers based on prices and other terms of storage contracts. Companies offer incentives such as low-monthly prices to attract customers. Owing to market penetration and the ability to offer better services, competitive rivalry is expected to continue high. Brand identity, however, plays a crucial role in shaping the competition in the market, with many players attaining a significant advantage over the new entrants and regional players.
- December 2022 - Life Storage Inc. and Extra Space Storage agreed to merge, with Extra Space acquiring Life Storage in an all-stock deal. The transaction merged two platforms, and the merged company's pro forma equity market capitalization is projected to be about USD 36 billion and a total enterprise value of approximately USD 47 billion, resulting in an even stronger combined company that will drive long-term. Large operational and external growth prospects can be realized through scale efficiencies, increased retained cash flow, data analytics, and other ways.
- December 2022 - VanWest acquired two self-storage facilities in Illinois and North Carolina in separate off-market transactions through Fund III. While 10 Federal Self Storage at 2542 S. Alston Ave. in Durham, North Carolina, offers 33,915 rentable square feet in 340 units, Capt'n Hook's Self Storage in Zion, Illinois, has 51,680 rentable square feet in 379 units. Both assets provide potential gains due to declining costs and rising rental rates. They will be rebranded as ClearHome Self Storage.
- August 2022 - Storage Sense continued to expand with the addition of a new storage facility in Mebane, North Carolina. This storage facility, which is situated in the city of Burlington, North Carolina, will serve the central North Carolina communities of Burlington, Graham, Swepsonville, and Alamance. The amenities available to users include indoor storage rooms, climate-controlled storage spaces, and more.
North Carolina Self-Storage Market Leaders
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Life Storage Inc.
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Cubesmart LP
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NC Self Storage
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Compass Self Storage
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Go Store It
*Disclaimer: Major Players sorted in no particular order
