National Storage REIT
National Storage REIT, or NSR, is the largest self-storage providers in Australia and New Zealand, and the only ASX-listed entity focused purely on storage. Most of its properties are owned and operated, but it also has long-term leaseholds. Most NSR centres are in 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 (owner of the Storage King brand) operate about one third of the market. NSR plans to continue acquiring and developing self-storage centres, consolidating the fragmented industry, as well generating organic growth via dynamic pricing and occupancy management. However, its large rivals are competing via similar strategies.