SmartStop Self Storage's Resilience Post-Hurricane Helene
SmartStop Self Storage's Response to Hurricane Helene
SmartStop Self Storage REIT, Inc., commonly referred to as SmartStop, is a self-managed and fully integrated self-storage company. Recently, it faced significant operational challenges due to Hurricane Helene, which resulted in the temporary closure of several properties in Asheville, North Carolina. A total of 15 facilities, encompassing approximately 935,000 net rentable square feet and 6,600 units, were affected by the storm surge.
Impact of Hurricane Helene on Operations
Among the impacted properties, one location sustained severe flooding, leading to approximately 66,400 square feet of net rentable space and 390 units being compromised. This incident serves as a stark reminder of the unpredictable nature of weather events and their potential effects on local businesses. While many properties have since reopened with minimal damage, others are steadily working to restore operations. Florida properties, on the other hand, experienced limited effects from the storm.
Commitment to Community Safety
The company recognizes the importance of prioritizing safety for both employees and customers, particularly during such challenging times. H. Michael Schwartz, Chairman and CEO of SmartStop, expressed heartfelt concerns for everyone affected by the storm. With a strong commitment to community support, the company is actively assisting those impacted, ensuring that well-being remains a top priority.
Operational Changes and Recovery Efforts
In light of the situation, SmartStop has initiated a series of operational changes to protect its assets and enhance recovery efforts. The swift reopening of several properties indicates a proactive approach in addressing the aftermath of the storm. The collaborative spirit exhibited by the team has been commendable, demonstrating resilience amidst adversity as they work diligently to clean up and conduct necessary repairs.
About SmartStop Self Storage
SmartStop Self Storage REIT, Inc. is not only focused on immediate recovery; it has long-term strategies designed for growth and stability. The company operates through a skilled team of approximately 525 self-storage professionals dedicated to expanding the SmartStop brand. As of the latest reports, SmartStop has an extensive portfolio, with 202 operating properties spread across 22 states and Canada, equating to around 142,500 units and 16.1 million rentable square feet.
Continued Operations in Canada
Moreover, SmartStop and its affiliates manage a notable presence in Canada, with 36 operational self-storage properties totaling approximately 31,000 units and 3.2 million rentable square feet. This diverse portfolio illustrates SmartStop's resilience and commitment to maintaining strong operations, despite challenges posed by environmental factors.
Looking Ahead
As SmartStop looks to the future, it remains focused on refining its operations and enhancing service delivery to existing and potential customers. This slight turbulent phase serves only as a motivator to adapt, innovate, and continue to provide exceptional service amidst unforeseen circumstances. By nurturing a collaborative environment and prioritizing safety, the company aims to emerge stronger from this experience.
Frequently Asked Questions
What impact did Hurricane Helene have on SmartStop's properties?
Hurricane Helene led to the temporary closure of 15 properties in Asheville, North Carolina, with one site experiencing severe flooding.
How is SmartStop addressing safety concerns post-storm?
The company is prioritizing the safety and well-being of employees and customers, providing support to those affected.
What is SmartStop's growth strategy?
SmartStop focuses on expanding its brand through a skilled operations team, with plans for further growth in self-storage solutions.
Are any of SmartStop's properties operational after the storm?
Yes, several properties have reopened, with plans in place to restore others that were temporarily closed.
What services does SmartStop offer?
SmartStop offers a range of self-storage solutions, catering to both personal and business storage needs.
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