As of December 31, 2024, we owned or had ownership interests in 2,436 operating stores.
−Removed: Of these stores, 1,903 are wholly-owned, two are in consolidated joint ventures, and 472 are in unconsolidated joint ventures.
+Added: Of these stores, 1,967 are wholly-owned, nine are in consolidated joint ventures, and 460 are in unconsolidated joint ventures.
In addition, we managed 1,575 stores for third parties, bringing the total number of stores which we own and/or manage to 4,011.
6 unchanged sentences
Although leases are short-term in duration, the typical tenant tends to remain at our stores for an extended period of time.
−Removed: For stores that were stabilized as of December 31, 2023, the average length of stay was approximately 17.4 months.
−Removed: The average annual rent per square foot for our existing customers at stabilized stores, net of discounts and bad debt, was $21.25 for the year ended December 31, 2023, compared to $20.50 for the year ended December 31, 2022.
−Removed: Average annual rent per square foot for new leases was $16.19 for the year ended December 31, 2023, compared to $18.32 for the year ended December 31, 2022.
−Removed: The average discounts, as a percentage of rental revenues, during these periods were 2.5% and 3.0%, respectively.
+Added: For same-stores as of December 31, 2024, the average length of stay for tenants who had vacated was approximately 17.5 months.
Our store portfolio is made up of different types of construction and building configurations.
Most often sites are what we consider “hybrid” facilities, a mix of both drive-up buildings and multi-floor buildings.
−Removed: We have a number of multi-floor buildings with elevator access only, and a number of facilities featuring ground-floor access only.
The following table presents additional information regarding net rentable square feet and the number of stores by state:
47 unchanged sentences
Totals 1,976 148,789,858 460 35,901,122 1,575 123,672,555 4,011 308,363,545
−Removed: (1) Includes two consolidated joint ventures and excludes approximately 17,900 units related to Bargold Storage Systems, LLC ("Bargold").
−Removed: See Note 5 in the Notes to the Condensed Consolidated Financial Statements.
+Added: (1) Includes nine consolidated joint ventures and excludes approximately 18,500 units related to Bargold Storage Systems, LLC (“Bargold”).
+Added: See Note 5 in the notes to the consolidated financial statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.