Self storage refers to a business that owns and operates a facility that is subdivided into self storage spaces which are rented to tenants, usually on a monthly basis. Self storage today At year-end 2009, a total of some 50,000 self storage facilities, owned by 30,235 companies, have been developed in the United States on industrial and commercial land parcels. There is more than 2.35 billion square feet of self storage in the U.S., or a land area equivalent to three times Manhattan Island under roof. The five large publicly traded storage operators (four REITs and U-Haul) own or operate approximately 9% of self storage facilities. More recently, in many metropolitan cities where competition among storage companies is fierce, better parcels of land near residential and commercial areas are being converted into self-storage once approved by zoning panels. According to a report (1 June 2006) by Mintel Consulting and in collaboration with the Self Storage Association of the United Kingdom space available for rental in the USA is approximately 1.6 billion rentable square feet, against 22 million rentable square feet in Australia and around 20 million in the United Kingdom. The report also states that there are around 41,000 facilities in the USA, 1,000 in Australia, around 700 in the United Kingdom and 220 in France. Some facilities are climate controlled. A few facilities have even added areas for self storage of goods with special needs, such as wine.
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