Noah Starr, CEO of TractIQ, breaks down Q2 Storage earnings and the PSA acquisition of NSA

Is the frozen housing market actually protecting self-storage operations from a severe downturn?

I am your host, Thaddeus Campbell, and on this edition of Storage Unlocked, I am joined by Noah Starr, CEO of Tracked IQ (TractIQ), the market intelligence platform monitoring over 72,000 facilities nationwide.

Every quarter, the self-storage REITs release their numbers—and Noah joins me to cut through the corporate spin and examine what the underlying metrics mean for private owners, developers, and syndicators.

In this episode, I cover:

The Length-of-Stay Metric: How customer retention increased by an average of 1.5 months year-over-year, keeping move-out churn low and preserving net operating income.

The Mortgage Lock-In Dynamic: Why homeowners and renters stuck in sub-4% mortgages are staying put and relying on self-storage units longer, giving operators room to execute rate increase strategies.

Extra Space's Margin Strength: Analyzing Extra Space's negative expense growth (-0.5%) and broad guidance lift across same-store pools.

The $10.5B PSA / NSA Integration: What happens when Public Storage expands into tertiary markets, unlocks 14,000 offline units, and applies institutional pricing power to 1,100 acquired properties.

Pipeline Intelligence: How tracking validated municipal permits prevents developers from overbuilding into saturated submarkets.

Tune in for an unfiltered, data-driven look at where self-storage fundamentals stand today.

Connect with Thaddeus Campbell (S3 Partners):

Email: thaddeus@s3.partners