Security Public Storage (SPS) is a multi-generational, family owned and operated self storage investment and management company that intends to maintain and grow its portfolio of high quality self storage properties into the long term, foreseeable future. As the self storage industry experiences the degree of consolidation that can be expected from most maturing industries, the larger operators are able to allocate resources at a disproportionate level than small and mid-size operators. Accordingly, SPS has joined Storelocal as a founding member and also as one of its principals (Michael Eisler) on the Storelocal Board of Directors. SPS has made this commitment to Storelocal in both time and treasure because SPS believes that the issues facing small and mid-size operators who want to remain in the self storage industry on a long term, multi-generational basis are well served by having a formal, professionally organized and capitalized group that is able to communicate and pursue initiatives, products and services especially in the ever increasingly high cost area of technology that will allow these operators to continue to compete and succeed in the self storage industry against larger operators with greater financial resources.
SPS expects StoreLocal to provide technology and operating solutions to small and mid-size self storage operators who have long term, multi-generational visions. Additionally, SPS expects StoreLocal to be a platform for these long term-focused operators to communicate and share ideas about emerging and ongoing issues that the smaller and mid-sized operators face as the larger players get bigger and add to their already formidable financial capacity. Specifically and in the short term as it relates to technology, StoreLocal is expected to assist in lead generation as well as in creating the type of modern, state of the art internet/website/mobile app consumer interface that is more consistent with current best practices exemplified by Uber and Open Table. It is becoming increasingly clear that the consumer is evolving in terms of what types of products/services they will use and buy especially over the internet and on mobile devices. The consumer is gravitating towards those products/services that provide the highest level of convenience and “ease of use” so that the self storage operator that is able to give their customers the as close to the “Uber” experience as possible will likely see above industry trends in terms of occupancy and incomes assuming the rest of the operation is adequate.
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Security Public Storage
Security Public Storage (SPS) was founded in 1983 in San Francisco, California. The Company headquarters remain in San Francisco. Security Public Storage operates and manages 45 self storage facilities with over 36,000 units and approximately 3,589,000 square feet of self storage space. Security Public Storage has consistently been ranked as one of the top 20 storage owner/operators nationally by various industry and trade publications. SPS properties are located throughout California and also have a presence in Nevada, Maryland and Virginia. As a privately held, family owned and operated, multi-generation self storage management and investment company, SPS prides itself on providing a high quality self storage experience to the consumer and operates its properties for long term ownership as the company has never sold a self storage property. SPS only manages properties owned by its principals and does not accept any third party management relationships which makes it distinctive in the industry.