Cubesmart
CubeSmart is a publicly traded U.S. self-storage REIT (NYSE: CUBE) that owns, operates, and manages approximately 1,530 self-storage facilities nationwide. It serves residential and small/mid-size business customers with month-to-month rental units, vehicle/RV/boat parking, and commercial flex-warehouse space, monetizing through recurring rental income, third-party management fees, and ancillary services.
- Company typePublic
- Founded2004
- HeadquartersWayne, United States
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Cubesmart does
CubeSmart is a publicly traded self-storage real estate investment trust (REIT) founded in 2004 and listed on the NYSE under ticker CUBE, headquartered in Malvern, Pennsylvania. The company owns, operates, acquires, and develops self-storage properties across the United States, with 1,530 owned or managed facilities (as of May 2026), making it the third-largest U.S. self-storage REIT behind Extra Space Storage and Public Storage per the 2025 Self Storage Almanac. Its portfolio spans climate-controlled and drive-up self-storage units, vehicle/RV/boat parking, mini storage lockers, and commercial/flex-warehouse space leased to small and mid-size businesses.
The company's underlying technology stack is centered on the CubeSmart Mobile App (iOS and Android), the SmartRental online contact-free rental flow, virtual chat agents for after-hours support, and Nokē Smart Entry (Janus International) Bluetooth mobile-access locks being deployed at new facilities. Operations are further supported by 24/7 video recording, electronic-gated access, and Face ID/Touch ID authentication. The technology layer is paired with marketing infrastructure including Google Analytics Demographics & Interest Reporting, DoubleClick remarketing, and an extensive local-SEO facility page network.
CubeSmart earns revenue primarily through recurring monthly rental income from month-to-month self-storage leases to residential and commercial customers (Q3 2025 revenue of $285.1M; Q4 2025 revenue of $282.71M; TTM ~$1.12B), supplemented by third-party property management fees from its 873-store management platform, customer-paid insurance/protection plans (SureSmart), and ancillary fees. Pricing is unit-level monthly ($46-$532 range for standard sizes) with frequent promotional discounts (1st Month Free, Up to 40% Off, 35% off with 4-month AutoPay commitment, 5% military discount). The company pursues a hybrid go-to-market: direct-to-consumer and product-led online for residential customers, an enterprise/field-sales motion for commercial leasing and the National Accounts program, and a channel-partner model for third-party property management. Capital allocation is supported by 4.7-4.8x net debt/EBITDA leverage, a 22-year track record of consecutive dividend payments, and a $475M share repurchase authorization.
Cubesmart firmographics
Firmographics- Name
- Cubesmart
- Legal name
- CubeSmart
- Website
- https://cubesmart.com
- Company type
- Public
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- CubeSmart is a publicly traded U.S. self-storage REIT (NYSE: CUBE) that owns, operates, and manages approximately 1,530 self-storage facilities nationwide. It serves residential and small/mid-size business customers with month-to-month rental units, vehicle/RV/boat parking, and commercial flex-warehouse space, monetizing through recurring rental income, third-party management fees, and ancillary services.
- Ownership category
- akta.pro rank
Cubesmart industry classification
Industry- Product category
- Self-Storage REIT
- NAICS
- Lessors of Miniwarehouses and Self-Storage Units (531130), Lessors of Miniwarehouses and Self-Storage Units (53113), Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (532120)
- SIC
- Public Warehousing & Storage (4220), Real Estate Operators (No Developers) & Lessors (6510)
- akta.pro primary industry
- Standard/Non-Climate Self-Storage (HSAKAGAB)
- akta.pro secondary industries
- Self-Storage Facility Management & Operations (Third-Party Managed) (HSAKAGAI), Vehicle & RV/Boat Self-Storage (HSAKAGAC)
Keywords
Where Cubesmart is headquartered
LocationHeadquarters
- HQ city
- Wayne
- HQ country
- United States
- HQ region
- North America
Offices13 records
Markets served
Cubesmart business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Self-Storage Rental Income: Recurring monthly rental revenue from owned and managed self-storage units (5x5 lockers through 10x30+ units, plus vehicle/boat/RV parking) on month-to-month leases. Q3 2025 revenue of $285.1M and Q4 2025 revenue of $282.71M primarily reflect same-store rental plus new acquisitions and development. Includes customer-paid insurance/protection plans, administrative fees, and ancillary charges (locks, packing supplies).
- Third-Party Property Management Fees: Recurring fee revenue from operating CubeSmart's Third-Party Management program that provides operational and managerial support for properties owned by other investors. The platform had expanded to 873 stores by Q2 2025 and 46 stores were added in Q3 2025.
- Commercial Leasing (Industrial/Retail/Office/Flex-Warehouse): Revenue from leasing warehouse-sized and commercial spaces to contractors, distributors, retailers, and other businesses requiring larger or specialized storage. Leases vary from less than 6 months to more than 12 months; commercial spaces cannot be reserved online and require contact with the local store.
- Acquisitions and Property Resale Gains: Growth capital deployed via property acquisitions (e.g., LAACO/Storage West: 59 assets) and joint ventures (CBRE IM $250M mandate). Real estate gains are realized through property appreciation, refinancing, and selective dispositions of stabilized assets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Per-unit monthly storage rental with promotional discounts (e.g., 1st Month Free, Up to 40% Off, 35% Off with 4-month commitment). |
| Other | Monthly | Commercial/Industrial storage leases (flex warehouse, industrial, contractor, office, retail) for businesses with terms from <6 months to >12 months. |
| Other | Pay-as-you-go | Full Service Storage (NYC only): includes truck, driver, and storage unit at the 444 W 55th St NYC location for new customers on a minimum 4-month rental with AutoPay. |
| Other | Monthly | Free promotional offers: First/Second Month Free or Half Off, Free Move-In Truck, Free Storage Shuttle (NYC), and 35% off with 4-month commitment AutoPay promotion. |
Go-to-market motion4 records
Distribution channels7 records
Marketing channels10 records
Cubesmart product offering
Product offeringCore offering
CubeSmart owns, operates, and manages a national portfolio of self-storage facilities in the United States, renting climate-controlled and drive-up storage units, vehicle/RV/boat parking spaces, and commercial/warehouse-flex space to residential and business customers on month-to-month leases. The company also provides a self-service mobile app and online rental platform for contactless move-in, and earns fee revenue from a Third-Party Management program that operates self-storage properties owned by other investors.
Product overview
CubeSmart operates a single integrated self-storage platform rather than a platform-plus-modules architecture: the core product is a portfolio of self-storage facilities (climate-controlled, vehicle, RV, boat, and mini storage lockers) supported by the CubeSmart Mobile App and Nokē Smart Entry access technology for contactless entry, payments, and account management. Layered on top of the owned-portfolio core, CubeSmart also provides ancillary services — Business Storage, National Accounts, Commercial Leasing, and Self-Storage Third-Party Management — that extend the same operating platform to business customers and to facilities owned by other operators.
Differentiator
Problem solved
Functional benefit
Brands
- Storage West: Self-storage brand acquired via LAACO, LTD. acquisition in December 2021, comprising 59 assets across major western US markets.
Products and services
- Self Storage CubeSmart's flagship offering of climate-controlled and drive-up self-storage units rented on a month-to-month basis to residential and business customers across the United States.
- Business Storage Specialized storage units targeted at contractors, retailers, offices, and industrial/warehouse-flex tenants, offered alongside CubeSmart's core residential self-storage product.
- Climate Controlled Storage Indoor climate-controlled storage units within CubeSmart facilities, designed for temperature- and humidity-sensitive items such as electronics, wood furniture, and artwork.
- Vehicle Storage Outdoor and covered parking spaces for cars, offered alongside CubeSmart's traditional self-storage units.
- RV Storage Dedicated outdoor parking for recreational vehicles, available at selected CubeSmart properties.
- Boat Storage Outdoor and covered parking for boats, available at selected CubeSmart properties.
- Self-Storage Third-Party Management Management services under which CubeSmart operates self-storage facilities owned by third parties, extending the CubeSmart operating platform to non-owned assets.
- National Accounts Program offering CubeSmart storage units to enterprise and multi-location business customers on standardized terms across the portfolio, with unified billing.
- Commercial Leasing Leasing of commercial and flex/warehouse space within CubeSmart-owned properties to business tenants beyond traditional self-storage.
- CubeSmart Mobile App Native iOS and Android application that enables customers to find and rent storage units, pay bills, open gates/doors (via integrated Nokē Smart Entry Bluetooth locks), and authenticate via Face ID/Touch ID.
Quantifiable outcome
- 22-year track record of consecutive dividend payments with 16th consecutive annual dividend increase
- +5 more outcomes
Companies that use Cubesmart
Customer profileNamed customers1 record
Segments6 records
Ideal customer profiles6 records
Cubesmart technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature8 records
Cubesmart partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, core and minor.
- CBRE Investment ManagementflagshipCubeSmart and CBRE Investment Management formed a $250 million strategic joint venture in early 2026 targeting self-storage investments in core, core-plus, and value-add opportunities in high-growth U.S. markets. The first acquisition under the JV was a self-storage location in Phoenix, Arizona. The partnership is intended to enhance CubeSmart's growth profile and expand its footprint in attractive markets under a disciplined capital deployment approach.
- Nokē Smart Entry (by Janus International)coreNokē Smart Entry mobile-access smart-lock technology was deployed at a new CubeSmart self-storage facility on Dickerson Pike in Nashville developed by Farragut Investments. The 92,000-square-foot facility contains 1,131 climate-controlled units with integrated smart locks enabling mobile access and digital key sharing for operational efficiency and enhanced security.
- Farragut InvestmentsminorFarragut Investments developed a new CubeSmart self-storage facility on Dickerson Pike in Nashville, Tennessee, featuring 92,000 square feet, 1,131 climate-controlled units, and integrated Nokē Smart Entry technology. CubeSmart operates the facility under its brand, leveraging Farragut's real estate development capability.
- A Super Move, Inc.minorIndependent contractor partnered with CubeSmart to provide truck and driver services for the Full Service Storage offering at the participating 444 W 55th St New York, NY 10019 facility. A Super Move loads packed items at a designated pickup point (between 34th and 125th streets), delivers to the CubeSmart facility, and stores items in a 5'x4'x4' unit. Additional items cost $50 + $25/item. CubeSmart is not affiliated with A Super Move; the independent contractor relationship is governed by separate A Super Move terms.
- Google Analytics / Google Ads / DoubleClickcoreCubeSmart uses Google Analytics with Demographics & Interest Reporting, Google Display Network Remarketing, and DoubleClick Campaign Manager integration to track site usage, deliver personalized advertising, support interest-based advertising, and provide cross-device linking. Google's policies govern the partner integration.
- Apple Inc. (App Store)coreCubeSmart distributes its iOS mobile application (App Store id1529164659) through Apple's App Store under Apple's registered trademark and licensing terms.
- Google LLC (Google Play)coreCubeSmart distributes its Android mobile application (com.cubesmart.customer) through Google Play under Google's trademark and licensing terms.
Scale indicators25 records
Recent moves7 records
Expansion highlights6 records
Cubesmart competitors and assessment
Company assessmentDirect peers
- National Storage Affiliates: National Storage Affiliates is a smaller U.S. self-storage REIT operating across multiple brands. It competes with CubeSmart in many of the same metropolitan markets with a comparable product offering and similar diversified acquisition-led growth strategy.
- Extra Space Storage: Extra Space Storage is the #2 U.S. self-storage REIT and CubeSmart's closest direct competitor. Both operate climate-controlled and drive-up self-storage facilities nationwide, target similar customer segments, and pursue third-party management programs at scale.
- StorageMart: StorageMart is a privately held self-storage operator with a national U.S. footprint. It is a direct competitor to CubeSmart, offering similar self-storage unit sizes, climate-controlled options, and customer-facing digital rental experiences.
- Public Storage: Public Storage is the largest U.S. self-storage REIT with thousands of facilities nationwide. It is the most direct competitor to CubeSmart, operating the same self-storage rental model with a national footprint and serving the same residential and small-business customers.
- Simply Self Storage: Simply Self Storage is a privately held self-storage owner/operator with facilities across multiple U.S. states. It competes directly with CubeSmart on product, customer segments, and geographic markets, though without the same scale or public-market access.
- SmartStop Self Storage REIT: SmartStop Self Storage REIT is a publicly registered non-traded self-storage REIT. It is directly comparable to CubeSmart as a self-storage owner/operator, though smaller in scale, and serves overlapping residential and business customer segments.
Broad incumbents
- U-Haul International (AMERCO): AMERCO, the parent of U-Haul, operates self-storage facilities alongside its core moving-truck business. While the primary business is moving and truck rentals, its self-storage operations compete with CubeSmart for residential and small-business customers.
- Realty Income: Realty Income is a large, publicly traded net-lease REIT. While not a direct self-storage competitor, it is a relevant peer for CubeSmart from a REIT capital structure, dividend policy, and investor-base perspective given its size and stability.
- Equity Residential: Equity Residential is a large multifamily-focused REIT. It is broadly comparable to CubeSmart as a large, publicly traded REIT with a national U.S. footprint and residential customer base, though its underlying asset class (apartments) differs from self-storage.
Emerging players
- Global Self Storage: Global Self Storage is a small publicly traded self-storage REIT with a regional footprint. While much smaller than CubeSmart, it offers a directly comparable self-storage rental product and serves similar customer use cases in select markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Cubesmart social profiles
Digital presenceCubesmart compliance and trust
Trust signalCompliance2 records
Cubesmart financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cubesmart leadership team
Management profileNumber of profiles
Profiles3 records
Cubesmart subsidiaries and ownership
Company hierarchySubsidiaries3 records
Cubesmart funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cubesmart M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cubesmart
What does Cubesmart do?
CubeSmart owns, operates, and manages a national portfolio of self-storage facilities in the United States, renting climate-controlled and drive-up storage units, vehicle/RV/boat parking spaces, and commercial/warehouse-flex space to residential and business customers on month-to-month leases. The company also provides a self-service mobile app and online rental platform for contactless move-in, and earns fee revenue from a Third-Party Management program that operates self-storage properties owned by other investors.
Is Cubesmart a public or private company?
Cubesmart is a public company. It is classified as public and is currently operating.
When was Cubesmart founded?
Cubesmart was founded in 2004. It employs 5,001 to 10,000 people.
Where is Cubesmart based?
Cubesmart is headquartered in Wayne, United States, in the North America region.
How does Cubesmart make money?
Four revenue lines are on record. Self-Storage Rental Income is the primary driver. The others are third-Party Property Management Fees, commercial Leasing (Industrial/Retail/Office/Flex-Warehouse) and acquisitions and Property Resale Gains.
Who are Cubesmart's main competitors?
Direct peers on record are National Storage Affiliates, Extra Space Storage, StorageMart, Public Storage, Simply Self Storage and SmartStop Self Storage REIT. Broad incumbents are U-Haul International (AMERCO), Realty Income and Equity Residential. Global Self Storage is listed as an emerging player.
Does Cubesmart have an API?
No public API is recorded for Cubesmart.
What industry is Cubesmart in?
Cubesmart's product category is Self-Storage REIT. Its primary akta.pro industry code is HSAKAGAB, Standard/Non-Climate Self-Storage, with a secondary code of HSAKAGAI, Self-Storage Facility Management & Operations (Third-Party Managed). Its NAICS code is 531130 and its SIC code is 4220.