Description
National Storage REIT is the largest self-storage provider in Australia and New Zealand. Most of its properties are owned and operated, but it also has long-term leaseholds. Most NSR centers are in the city fringe, suburban and regional areas. The industry is fragmented, mostly comprising single site owners, while the largest three players, NSR, privately owned Kennards, and the listed Abacus Storage King operate over a third of the market. NSR plans to continue acquiring and developing self-storage centers, consolidating the fragmented industry, as well generating organic growth via dynamic pricing and occupancy management. However, its large rivals are competing via similar strategies.
