Owned by Santa Monica-based real estate firm The William Warren Group, storage operator StorQuest Self Storage has steadily grown from its SoCal beginnings into a network of 145 self-storage facilities across the country.
As developers churn out new facilities across the country, StorQuest is putting an even bigger emphasis on its third-party management platform than ever before. Many of the current storage developers aren’t interested in managing facilities, creating a frothy market for third-party management providers.
Demand for third-party management services in the sector appears to be on the rise if the actions of the industry’s biggest players are any indication. The major REITs are accelerating their third-party management programs as well, with CubeSmart noting it as an emerging focus area in its recent earnings conference call and Public Storage this year announced it was actively pursuing more third-party management business.
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