History of StorageMart
The StorageMart story is one of hard work, determination, a little luck and great success. It all started with one big idea that turned into a multi-million-dollar business. Today, StorageMart possesses some of the best minds in the self storage industry and is valued and respect by customers and peers. Since 1974, the founders of StorageMart have been providing great customer service and beautiful storage facilities all over North America.
Once Upon A Time…
It all began when Gordon Burnam took his young family on a vacation to Texas. Constant rain and miserable weather made the summer trip a bust, or so it seemed. Gordon often spent his free time looking around new towns for new business opportunities and it had grown to be a favorite family pastime. So, it was much like a treasure hunt when Gordon and his family piled in to the family car and circled the town, searching for a golden nugget of opportunity.
The family happened upon a self storage facility. Gordon saw great potential in that little storage site he found in Texas and, for ten dollars, purchased a copy of the lease so he could build his own storage business. The family went back to their hometown of Columbia, Missouri and started to get the wheels turning.
Gordon and his partner began building self storage facilities in Florida, Mississippi, Kentucky, North and South Carolina and Alabama. In 1987, Gordon’s four children joined their father and Burnam Holding Companies was born. In 1987 the family business expanded its self storage portfolio from 2 storage properties to 58 storage facilities in the U.S. The company went public in 1994 with an initial capitalization of $108 million and never looked back. The company grew to $600 million market capitalization in 1999 and merged with a publicly traded self storage company.
After the merger, the family started from scratch. StorageMart was born and grew from 0 storage properties to 62 storage facilities between 1999 and 2006. In June of 2006, StorageMart executive officers bought back all interests from its investors and the self storage company joined forces with a well-respected investor in the real estate industry.
In 2008 StorageMart saw an opportunity in a publicly traded storage company in Canada. In May 2008 StorageMart began purchasing stock and eventually acquired a 20% stake in the company. By March 2009 StorageMart completed a transaction of $(C)450 million and nearly doubled its self storage property portfolio, adding 62 storage properties in Canada. The StorageMart portfolio now consists of over 130 stores, 7 million net rentable square feet collecting in excess of $85 million in annual revenue.
Today, StorageMart continues to grow and has over 135 properties in the United States and Canada. These self storage properties are some of the finest in the industry, with up-to-date technology, close proximity to their customers, and well-lit, clean facilities.
The company aims to continue offering self storage to its many local communities and is proud to provide safe storage to residents and businesses. StorageMart also offers non-profit storage rates and donations to many charities and local organizations. The company recently began a scholarship program for higher education; the scholarship is available to graduating seniors and adults returning to school. More information about non-profit storage donations and scholarship programs can be found on the company’s blog and Facebook pages.