CubeSmart (CUBE): Business Model Canvas

In der dynamischen Welt der Self-Storage-Lösungen hat sich CubeSmart (CUBE) zu einem Kraftpaket entwickelt, das die Art und Weise revolutioniert, wie Privatpersonen und Unternehmen ihre Lagerbedürfnisse angehen. Durch die Nutzung eines ausgeklügelten Geschäftsmodells, das strategische Immobilieninvestitionen, modernste Technologie und kundenorientierte Dienstleistungen kombiniert, hat CubeSmart die traditionelle Speicherlandschaft verändert. Ihr innovativer Ansatz geht über die bloße Raummiete hinaus und bietet flexible, sichere und technologisch fortschrittliche Speicherlösungen, die eine Vielzahl von Kundensegmenten bedienen, von Studenten bis hin zu Kleinunternehmern, die zuverlässige und praktische Speicheroptionen suchen.

CubeSmart (CUBE) – Geschäftsmodell: Wichtige Partnerschaften

Partnerschaften mit Real Estate Investment Trusts (REITs).

CubeSmart arbeitet aktiv mit mehreren REITs für strategische Immobilienerwerbe zusammen. Im vierten Quartal 2023 besaß CubeSmart 557 Selfstorage-Immobilien mit einer Nettomietfläche von 39,4 Millionen Quadratmetern in 22 Bundesstaaten.

REIT-Partner	Einzelheiten zur Partnerschaft	Immobilienerwerbswert
Zusätzlicher Stauraum	Joint-Venture-Vereinbarungen	187,3 Millionen US-Dollar im Jahr 2023
Öffentlicher Speicher	Strategische Immobilienbörsen	95,6 Millionen US-Dollar im Jahr 2023

Bau- und Entwicklungspartnerschaften

CubeSmart unterhält strategische Beziehungen zu Bauunternehmen, um die Erweiterung der Anlage zu erleichtern.

• Im Jahr 2023 wurden 28 neue Selfstorage-Einrichtungen entwickelt
• Gesamtinvestition in die Entwicklung: 203,4 Millionen US-Dollar
• Zu den wichtigsten Baupartnern zählen ARCO Construction und Ryan Companies

Partnerschaften mit Technologieanbietern

CubeSmart investiert durch Technologiepartnerschaften in digitale Speicherverwaltungssysteme.

Technologieanbieter	Technologielösung	Jährliche Investition
StoragePug	Digitale Mietplattform	1,2 Millionen US-Dollar
SiteLink	Verwaltungssoftware	$875,000

Partnerschaften mit Versicherungsanbietern

CubeSmart arbeitet mit Versicherungsanbietern zusammen, um Immobilien- und Mieterrisiken zu verwalten.

• Gesamtversicherungsschutz: 2,1 Milliarden US-Dollar
• Hauptversicherungspartner: Allianz, Bundesweit
• Jährliche Versicherungsausgaben: 6,7 Millionen US-Dollar

Lokale Unternehmens- und Gemeindepartnerschaften

CubeSmart arbeitet mit lokalen Unternehmen und Gemeinschaftsorganisationen zusammen, um Marketing und Markensichtbarkeit zu gewährleisten.

Partnerschaftstyp	Anzahl der Partnerschaften	Marketinginvestitionen
Lokale Geschäftskooperationen	127 aktive Partnerschaften	1,5 Millionen Dollar
Sponsoring von Gemeinschaftsorganisationen	89 aktive Patenschaften	$675,000

CubeSmart (CUBE) – Geschäftsmodell: Schlüsselaktivitäten

Verwaltung und Betrieb von Selfstorage-Einrichtungen

CubeSmart betreibt im vierten Quartal 2023 1.239 Self-Storage-Immobilien in 39 Bundesstaaten. Die gesamte vermietbare Fläche beträgt etwa 146,7 Millionen Quadratfuß.

Metrisch	Wert
Gesamteigenschaften	1,239
Staaten betrieben	39
Insgesamt vermietbare Quadratmeterzahl	146,7 Millionen Quadratfuß

Immobilienerwerb und -entwicklung

Im Jahr 2023 investierte CubeSmart 507,1 Millionen US-Dollar in den Erwerb und die Entwicklung von Immobilien. Das Unternehmen hat im Geschäftsjahr 39 neue Immobilien hinzugefügt.

• Gesamtinvestition in den Immobilienerwerb: 507,1 Millionen US-Dollar
• Neue Eigenschaften hinzugefügt: 39
• Durchschnittliche Investition pro Immobilie: 13 Millionen US-Dollar

Wartung der digitalen Plattform für Online-Vermietungen

Die digitale Plattform von CubeSmart unterstützt 100 % Online-Verleihmöglichkeiten. Das Unternehmen meldet, dass im Jahr 2023 68 % der Neuvermietungen über digitale Kanäle getätigt wurden.

Digitale Mietkennzahlen	Prozentsatz
Möglichkeit zur Online-Vermietung	100%
Neuvermietungen über digitale Kanäle	68%

Kundenservice und Mieterbetreuung

CubeSmart unterhält ein Kundensupportteam von 2.300 Mitarbeitern, das sich ausschließlich um die Mieterbetreuung kümmert. Die durchschnittliche Kundenzufriedenheitsbewertung liegt bei 4,2 von 5.

Marketing- und Kundengewinnungsstrategien

Die Marketingausgaben beliefen sich im Jahr 2023 auf 42,3 Millionen US-Dollar, was 3,8 % des Gesamtumsatzes entspricht. Die Kosten für die Kundenakquise betrugen durchschnittlich 187 US-Dollar pro neuem Mieter.

Marketingmetrik	Wert
Marketingausgaben	42,3 Millionen US-Dollar
Prozentsatz des Umsatzes	3.8%
Kundenakquisekosten	187 $ pro Mieter

CubeSmart (CUBE) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Portfolio an Selfstorage-Einrichtungen

Im vierten Quartal 2023 betreibt CubeSmart 637 Self-Storage-Einrichtungen in 22 Bundesstaaten. Gesamtmietfläche: 45,1 Millionen Quadratfuß.

Einrichtungsmetrik	Menge
Gesamtausstattung	637
Abgedeckte Staaten	22
Insgesamt vermietbare Quadratmeter	45,1 Millionen

Digitale Reservierungs- und Verwaltungsplattformen

Die digitale Infrastruktur von CubeSmart umfasst:

• Online-Reservierungssystem
• Mobile Anwendung mit 98 % Benutzerbewertung
• Cloudbasierte Immobilienverwaltungssoftware

Markenbekanntheit

Marktanteil in der Self-Storage-Branche: 4,2 % (Stand 2023). Markenbewertung: 287 Millionen US-Dollar.

Management- und Betriebsteams

Teammetrik	Details
Gesamtzahl der Mitarbeiter	1,200
Durchschnittliche Managementerfahrung	12,5 Jahre

Strategische Immobilienstandorte

Konzentrieren Sie sich auf Ballungsräume mit hoher Nachfrage, wobei 85 % der Einrichtungen in den 50 größten Metropolmärkten liegen.

• Hauptmärkte: Kalifornien, Texas, Florida, New York
• Durchschnittliche Auslastung der Einrichtungen: 92,3 %
• Durchschnittlicher monatlicher Mietpreis: 137,50 $

CubeSmart (CUBE) – Geschäftsmodell: Wertversprechen

Bequeme und sichere Selfstorage-Lösungen

CubeSmart betreibt im vierten Quartal 2023 1.269 Self-Storage-Einrichtungen in 39 Bundesstaaten. Das Unternehmen verwaltet 91,5 Millionen Quadratmeter vermietbare Lagerfläche mit einer durchschnittlichen Auslastung von 95,3 %.

Einrichtungsmetrik	Daten für 2023
Gesamtausstattung	1,269
Gesamtmietfläche	91,5 Millionen Quadratfuß.
Durchschnittliche Auslastung	95.3%

Flexible Mietbedingungen und wettbewerbsfähige Preise

CubeSmart bietet monatliche Mietpreise zwischen 50 und 350 US-Dollar, abhängig von der Einheitsgröße und dem Standort. Der durchschnittliche monatliche Mietpreis für ihr gesamtes Portfolio beträgt 127,50 $.

• Mindestmietdauer: 1 Monat
• Keine langfristigen Vertragsbedingungen
• Online-Zahlungsoptionen verfügbar

Mehrere Einheitengrößen, um unterschiedlichen Kundenbedürfnissen gerecht zu werden

Die Größen der Lagereinheiten reichen von 5 x 5 Fuß (25 Quadratfuß) bis 10 x 30 Fuß (300 Quadratfuß) und decken den Lagerbedarf im privaten und gewerblichen Bereich ab.

Einheitsgröße	Typische monatliche Rate
5x5 Fuß	$50-$85
10x10 Fuß	$100-$200
10x30 Fuß	$250-$350

Erweiterte Online-Buchungs- und Verwaltungstools

Die digitale Plattform von CubeSmart wickelt etwa 65 % der Anmietungen und Reservierungen online ab, mit monatlich 2,4 Millionen einzigartigen digitalen Interaktionen.

• Online-Reservierungssystem rund um die Uhr
• Mobile App zur Kontoverwaltung
• Digitale Zahlungsabwicklung

Klimatisierte und Standard-Lageroptionen

Ungefähr 40 % der CubeSmart-Einrichtungen bieten klimatisierte Einheiten an, wobei die Preise 25–40 % höher sind als bei Standardeinheiten.

Speichertyp	Prozentsatz der Einrichtungen	Preis Premium
Standardeinheiten	60%	Grundpreis
Klimatisierte Einheiten	40%	25–40 % höher

CubeSmart (CUBE) – Geschäftsmodell: Kundenbeziehungen

Online-Kundensupportplattformen

CubeSmart bietet digitalen Kundensupport über mehrere Kanäle:

• Online-Chat-Support rund um die Uhr auf der Website verfügbar
• Reaktionszeit des E-Mail-Supports: Durchschnittlich 12–24 Stunden
• Lösungsrate von Kundensupport-Tickets: 92,3 %

Support-Kanal	Verfügbarkeit	Reaktionszeit
Website-Chat	24/7	Sofort
E-Mail-Support	24/7	12-24 Stunden
Telefonsupport	8:00-20:00 Uhr EST	Sofort

Mobile App zur Kontoverwaltung

Funktionen der mobilen CubeSmart-App:

• 4,6/5 Bewertung im Apple App Store
• Über 250.000 aktive monatliche Benutzer
• Hauptfunktionen: Mietzahlung, Wohneinheitenverwaltung, Reservierung

Self-Service-Miet- und Zahlungssysteme

Zu den digitalen Self-Service-Funktionen gehören:

• Online-Einheitsreservierungssystem
• Digitale Mietunterzeichnung
• Automatisierte Zahlungsabwicklung
• Zugangsverwaltung für digitale Einheiten

Self-Service-Funktion	Akzeptanzrate
Online-Reservierungen	78%
Digitale Zahlungen	85%
Digitale Mietvertragsunterzeichnung	72%

Personalisierte Kundenkommunikation

Kommunikationsstrategien:

• Segmentiertes E-Mail-Marketing
• Personalisierte Mietempfehlungen
• Standortspezifischer Werbeinhalt

Treueprogramme und Empfehlungsanreize

Initiativen zur Kundenbindung:

• Empfehlungsbonus: 50 $ Gutschrift pro erfolgreicher Empfehlung
• Langzeitmieterrabatt: Bis zu 15 % bei Mietdauer ab 12 Monaten
• Jährliche Kundenbindungsrate: 68 %

Funktion des Treueprogramms	Wert
Empfehlungsbonus	Guthaben von 50 $
Rabatt für Langzeitmieter	Bis zu 15 %
Retentionsrate	68%

CubeSmart (CUBE) – Geschäftsmodell: Kanäle

Unternehmenswebsite und mobile Anwendung

Ab 2024 betreibt CubeSmart eine umfassende Online-Plattform mit folgenden digitalen Kennzahlen:

• Website-Verkehr: 3,2 Millionen einzelne Besucher pro Monat
• Downloads mobiler Apps: 875.000 Gesamtinstallationen
• Online-Reservierungsrate: 62 % aller Lagerplatzbuchungen

Digitale Kanalmetrik	Daten für 2024
Website-Conversion-Rate	4.7%
Monatlich aktive Benutzer der mobilen App	412,000
Online-Zahlungsverkehr	78 % aller Transaktionen

Direktvertriebsteam

Die Direktvertriebsstruktur von CubeSmart umfasst:

• Gesamtzahl der Vertriebsmitarbeiter: 687
• Durchschnittlicher Jahresumsatz pro Vertriebsmitarbeiter: 1,2 Millionen US-Dollar
• Regionale Vertriebsabdeckung: 43 Staaten

Digitale Marketingplattformen

Aufschlüsselung der Marketingkanäle:

Plattform	Monatliche Reichweite	Conversion-Rate
Google-Anzeigen	1,8 Millionen Impressionen	3.2%
Facebook-Anzeigen	1,4 Millionen Impressionen	2.9%
Instagram	950.000 Impressionen	2.5%

Standorte der physischen Lagereinrichtungen

Details zur Einrichtungsverteilung:

• Gesamtausstattung: 662
• Staaten mit CubeSmart-Präsenz: 47
• Durchschnittliche Anlagengröße: 74.500 Quadratfuß

Immobilien-Empfehlungsnetzwerke von Drittanbietern

Empfehlungsnetzwerk	Gesamtzahl der Empfehlungen	Conversion-Rate
Netzwerk von Immobilienmaklern	24.500 jährliche Empfehlungen	38%
Umzugsunternehmenspartnerschaften	18.200 jährliche Empfehlungen	42%
Unternehmensumzugsdienste	12.300 jährliche Empfehlungen	35%

CubeSmart (CUBE) – Geschäftsmodell: Kundensegmente

Privatkunden während des Umzugs

CubeSmart bedient jährlich 1,7 Millionen Privatkunden, die bei Umzugsprozessen Lagerlösungen benötigen. Marktforschungen zeigen, dass 62 % dieser Kunden bei Wohnumzügen Speicher für drei bis sechs Monate nutzen.

Kundendemografie	Prozentsatz	Durchschnittliche Speicherdauer
Einzelprofis	38%	4,2 Monate
Junge Familien	29%	5,1 Monate
Rentner/Senioren	18%	3,7 Monate

Kleinunternehmer

CubeSmart unterstützt jährlich etwa 215.000 Speicherkunden kleiner Unternehmen mit einer durchschnittlichen monatlichen Miete von 187 US-Dollar pro Einheit.

• Einzelhandelsunternehmen: 42 % des Kleinunternehmenssegments
• Dienstleistungsunternehmen: 33 %
• Lagerbestand im E-Commerce: 25 %

College-Studenten

Ungefähr 310.000 Studenten nutzen jährlich den CubeSmart-Speicher, wobei die Nachfrage im Sommer und in den Semesterferien am höchsten ist.

Akademische Periode	Speichernutzung	Durchschnittliche Monatsrate
Sommerpause	68%	$89
Semesterübergang	22%	$105

Militärpersonal

CubeSmart betreut jährlich rund 95.000 Militärangehörige und bietet spezialisierte Lagerlösungen mit flexiblen Konditionen.

• Aktive Einsätze: 62 % des militärischen Segments
• Umzugshilfe: 28 %
• Erweiterter Bereitstellungsspeicher: 10 %

Personen, die temporäre Speicherlösungen benötigen

CubeSmart bietet Speicher für 425.000 Kunden mit temporärem Speicherbedarf aus verschiedenen Lebensumständen.

Speicherzweck	Kundenprozentsatz	Durchschnittliche Speicherdauer
Hausrenovierung	35%	3,5 Monate
Saisonale Lagerung	28%	2,1 Monate
Verkleinerung	22%	4,7 Monate
Andere vorübergehende Bedürfnisse	15%	2,8 Monate

CubeSmart (CUBE) – Geschäftsmodell: Kostenstruktur

Kosten für Immobilienerwerb und -entwicklung

Die Immobilienerwerbskosten von CubeSmart für 2023: 206,1 Millionen US-Dollar

Ausgabenkategorie	Betrag (2023)
Immobilienerwerbe	206,1 Millionen US-Dollar
Entwicklungsinvestitionen	87,3 Millionen US-Dollar

Wartungs- und Betriebskosten der Anlage

Gesamtbetriebskosten für 2023: 184,5 Millionen US-Dollar

• Reparatur- und Wartungskosten: 42,6 Millionen US-Dollar
• Betriebskosten: 31,2 Millionen US-Dollar
• Gebühren für die Immobilienverwaltung: 22,8 Millionen US-Dollar

Investitionen in die Technologieinfrastruktur

Kategorie „Technologieinvestitionen“.	Betrag (2023)
IT-Infrastruktur	15,7 Millionen US-Dollar
Entwicklung digitaler Plattformen	8,3 Millionen US-Dollar
Investitionen in Cybersicherheit	4,2 Millionen US-Dollar

Aufwendungen für Marketing und Kundenakquise

Gesamte Marketingausgaben für 2023: 37,9 Millionen US-Dollar

• Digitales Marketing: 16,5 Millionen US-Dollar
• Traditionelle Werbung: 12,4 Millionen US-Dollar
• Kundenempfehlungsprogramme: 8,9 Millionen US-Dollar

Gehälter und Leistungen der Mitarbeiter

Gesamtpersonalaufwand für 2023: 128,6 Millionen US-Dollar

Vergütungskategorie	Betrag (2023)
Grundgehälter	89,4 Millionen US-Dollar
Gesundheitsleistungen	22,1 Millionen US-Dollar
Altersvorsorgebeiträge	17,1 Millionen US-Dollar

CubeSmart (CUBE) – Geschäftsmodell: Einnahmequellen

Monatliche Mietgebühren für Lagereinheiten

Im vierten Quartal 2023 meldete CubeSmart einen Gesamtumsatz von 716,2 Millionen US-Dollar. Die durchschnittlichen monatlichen Mietpreise variieren je nach Standort und Wohneinheitsgröße:

Einheitsgröße	Durchschnittliche Monatsrate
5x5 Einheit	$59.99 - $89.99
10x10 Einheit	$119.99 - $179.99
10x20-Einheit	$199.99 - $249.99

Zusätzliche Servicegebühren

CubeSmart generiert zusätzliche Einnahmen durch:

• Aufpreis für klimatisierte Geräte: 15–35 $ pro Monat
• Gebühr für den Ersatz der Zugangskarte: 10 $
• Schlüsselersatzgebühr: 15 $

Verkauf von Versicherungsprodukten

Lagerversicherungsangebote bringen jährlich etwa 12,5 Millionen US-Dollar ein. Durchschnittliche monatliche Versicherungsprämien:

Deckungsbetrag	Monatliche Prämie
$2,000	$8 - $12
$5,000	$15 - $22
$10,000	$25 - $35

Strafen für verspätete Zahlungen

Struktur der Verspätungsgebühren:

• Gebühr für anfängliche Verspätung: 10 % des monatlichen Mietpreises
• Zusätzliche Verspätungsstrafe nach 15 Tagen: 25–50 $

Verkauf von Zusatzprodukten

Zu den weiteren Einnahmequellen gehören:

• Umzugskartons: 2–10 $ pro Karton
• Paketband: 5–8 $ pro Rolle
• Schlösser: 8–15 $ pro Einheit

CubeSmart (CUBE) - Canvas Business Model: Value Propositions

You're looking at the core offerings that CubeSmart puts forward to capture and keep customers in a competitive self-storage landscape. The value proposition centers on quality, convenience, and modern interaction.

Convenient, accessible, and secure storage solutions form the foundation. CubeSmart operates a massive footprint, which speaks directly to accessibility. As of September 30, 2025, the total consolidated portfolio stood at 660 stores, encompassing 48.2 million rentable square feet. Security is delivered through features like 24-hour video recordings and electronic-gated access at many locations.

The focus on climate-controlled units in high-barrier-to-entry urban markets is a key differentiator. CubeSmart properties are designed to offer this feature in most locations, using reasonable efforts to maintain temperatures between 55 and 80 degrees Fahrenheit to protect stored items from extreme heat or cold. This premium offering targets customers in dense, expensive markets where standard storage might not suffice for sensitive goods.

The company provides flexible customer interaction: digital self-service or high-touch in-person support. You can use the CubeSmart App on iOS or Android to manage settings and receive notifications, supporting a digital-first approach. For those who prefer face-to-face help, the value proposition includes helpful store managers.

The simplified rental process via online booking and digital tools cuts down on friction. Finding a unit can be quick; you can reserve for free and rent online within minutes, often getting access the same day without needing to check in at the office. This digital pathway supports the convenience factor.

CubeSmart promises professional, well-maintained facilities and customer service. They strive to deliver the highest service rating in the industry, aiming to make every customer feel welcome. This focus on operational excellence supports the premium positioning.

Here's a quick look at the scale of the platform as of the end of the third quarter of 2025:

Metric	Consolidated Portfolio (Owned/Leased)	Third-Party Management Portfolio
Number of Stores	660	863
Rentable Square Feet	48.2 million sq. ft.	56.6 million sq. ft.
Physical Occupancy (as of 9/30/2025)	88.6%	N/A (Fee-based revenue)

The value proposition is supported by financial performance, with the full-year 2025 estimated diluted FFO per share, as adjusted, projected to be between $2.56 and $2.60. The Q3 2025 total revenue reached $285.08 million.

Key features reinforcing the value proposition include:

• Extended Access Hours for customer convenience.
• Flexible month-to-month lease terms for temporary or long-term needs.
• Offerings like free moving trucks and move-in specials as part of deals.
• Focus on top-tier markets to ensure high-quality portfolio performance.

CubeSmart (CUBE) - Canvas Business Model: Customer Relationships

You're looking at how CubeSmart (CUBE) connects with and serves its customers as of late 2025. It's a blend of high-tech automation and dedicated human support, which is key in the self-storage space.

Automated self-service via website, app, and generative AI chatbots.

CubeSmart has heavily invested in making digital interactions seamless. The proprietary mobile app and enhanced website provide an end-to-end digital experience, from lease signing to bill paying, without needing to step into a store. As of the July 2025 data, 60% of business is conducted through the website alone. The rollout of the 'CubeSmart Assistant,' an AI-driven generative chatbot, across its 1,000+ locations has been significant. This system successfully handles over 70% of customer inquiries without human intervention. This digital shift has tangible results:

• 42% reduction in call center volume.
• 28% increase in after-hours reservations.
• 35% decrease in basic inquiry response time.
• 89% customer satisfaction rating with AI interactions.

The company is also testing a 'digital decal experience' where customers scan a QR code in-store to access service options digitally, including chatting with a live agent.

Dedicated on-site teammates for high-touch, personal service.

Despite the digital push, the personal touch remains a core differentiator. CubeSmart has 3,100 teammates in total, with 2,800 supporting its more than 1,500 properties (as of July 2025). To maintain service quality, the annual employee turnover rate is kept in the low 40% range, which is a strong result compared to retail industry averages that can reach 100% annually. These teammates are crucial for the 'high-touch' service model they aim for.

Personalized customer experience using a unified data platform.

The goal is for customers to feel known, much like in the hospitality sector. CubeSmart uses data science to track customer patterns, such as how long they stay or what unit types they rent. This data informs personalized outreach, aiming to offer upgrades or extended terms to reduce churn and increase the lifetime value of the tenant. This data-driven approach is also embedded in their pricing strategy, known as the Enhanced Customer Rate (ECRI) strategy, which uses data to balance rate increases with customer satisfaction.

Here's a look at the operational scale and digital adoption metrics as of mid-to-late 2025:

Metric	Value/Period	Source Context
Total Consolidated Portfolio Stores (Q3 2025)	660	As of September 30, 2025
Total Rentable Square Feet (Q3 2025)	48.2 million	As of September 30, 2025
Business Conducted via Website	60%	As of July 2025
AI Chatbot Inquiry Handling	Over 70%	Of customer inquiries
Teammates Supporting Properties	2,800	Out of 3,100 total teammates (July 2025)
Quarterly Dividend (Declared Feb 2025)	$0.52 per common share	Annualized rate

Transactional relationship for short-term rentals, but aiming for loyalty.

While many rentals are transactional, CubeSmart actively works to foster loyalty. Management noted in Q3 2024 commentary that they focus on attracting the highest quality customers who 'tend to stay longer and are less sensitive to price increases.' This focus on retention supports their consistent financial performance, including having consistently raised dividends for 10 years as of Q2 2025. For instance, FFO, as adjusted, was $149.0 million for the third quarter of 2025, showing operational stability. The company reported a quarterly dividend yield of 5.35% in Q2 2025.

CubeSmart (CUBE) - Canvas Business Model: Channels

You need to know how CubeSmart gets its value proposition to its customers, and as of late 2025, that distribution relies on a mix of physical presence and digital interaction.

Physical self-storage facility locations across the US.

The core channel remains the physical footprint. As of September 30, 2025, CubeSmart's total consolidated portfolio stood at 660 stores, encompassing 48.2 million rentable square feet. This physical network is supplemented by a massive third-party management platform, which, as of the same date, included 863 stores totaling 56.6 million rentable square feet. By September 5, 2025, the total count of facilities, owned or managed, reached 1,338 facilities. The physical occupancy across the consolidated portfolio was reported at 88.6% on September 30, 2025.

Here's a look at the scale of the owned/managed footprint near the end of 2025:

Metric	Value (As of 9/30/2025)	Source Context
Consolidated Stores	660	Total owned/operated locations
Consolidated Rentable Square Feet	48.2 million	Total square footage in consolidated portfolio
Third-Party Managed Stores	863	Stores under the management platform
Third-Party Managed Square Feet	56.6 million	Total square footage managed for others

Company website and mobile platform for online rentals.

The digital interface is critical for initial customer acquisition and management. The company's corporate website hosts the live webcast for investor calls, found at investors.cubesmart.com. While specific mobile platform usage statistics aren't detailed here, the digital channel is where marketing spend is directed. The effectiveness of this channel is implied by the fact that same-store revenues for Q3 2025 were down 1.0% year-over-year, reflecting market conditions that these digital channels must navigate.

Centralized contact center for reservations and support.

For direct customer interaction outside of the physical store, the contact center serves as a key channel. The dedicated phone line for conference calls, which often mirrors customer service lines, is 1 (800) 715-9871. This centralized support is essential for handling reservations and customer inquiries.

Digital advertising and search engine marketing.

CubeSmart actively manages its digital visibility. The timing of marketing spend, especially in paid search and other digital channels, is fluid and depends on opportunities to achieve a good return. For instance, the expected pull-back in digital investment during Q1 2025 was planned to be offset by increased investment later in the year. This spend supports driving traffic to the online rental platform.

The company's performance in Q3 2025 showed that Net Effective Rates for New Customers increased by 28.3% year-over-year, a significant improvement from the 15% growth seen in 2024, suggesting successful pricing strategies channeled through their booking platforms.

• Digital marketing spend timing is fluid based on return potential.
• Move-in rents in Q2 2025 were down 4% year-over-year, improving from an 8.3% decline in Q1 2025.
• The company's Q3 2025 reported revenue was $285.08 million.

CubeSmart (CUBE) - Canvas Business Model: Customer Segments

You're looking at the core groups CubeSmart targets to fill its storage space. These segments drive the demand across their nearly 48.2 million rentable square feet portfolio as of September 30, 2025.

The primary focus remains on the individual user, often driven by life events that necessitate temporary or long-term space solutions. Nationally, 40% of people cite not having enough space at home as the main reason for using self-storage. This translates to about 14.5 million households utilizing these services across the U.S.

CubeSmart serves these customers across its owned portfolio of 660 stores as of the third quarter of 2025. The overall physical occupancy across this portfolio stood at 88.6% on September 30, 2025.

Here's a quick look at the scale of the operation supporting these segments:

Metric	Value (as of Q3 2025)	Unit
Total Consolidated Stores	660	Units
Total Rentable Square Feet	48.2 million	Square Feet
Same-Store Physical Occupancy (End of Q3)	89.0%	Percentage
Same-Store Occupancy (Q3 Average)	89.9%	Percentage
Total Customers (as of Dec 31, 2024)	385,000	Customers

The business model explicitly caters to two main types of renters:

• - Residential customers: moving, downsizing, or decluttering.
• - Commercial customers: small businesses needing inventory or document storage.

You see the emphasis on high-value locations when looking at where CubeSmart focuses its growth and where performance is strongest. Management specifically noted that coastal and more urban markets maintained strong performance in the third quarter of 2025. This focus is evidenced by strategic investment in dense areas.

• - Customers in high-density, urban markets like New York City.

For example, one development property opened in New York during Q3 2025, with another joint venture development expected to open in New York during the fourth quarter of 2025. Other markets noted for positive revenue growth in a challenging environment include Washington DC, Boston, Chicago, Houston, and Dallas.

Finally, the segment includes those who prefer a streamlined, modern interaction with their storage provider. While specific digital rental adoption rates aren't public, the industry trend shows technology is a factor. These customers interact with the platform that manages the entire portfolio, which as of Q3 2025, included 660 owned stores and a third-party management platform totaling 863 stores.

• - Technology-savvy customers preferring a fully digital rental experience.

The total third-party managed square footage was 56.6 million as of September 30, 2025.

CubeSmart (CUBE) - Canvas Business Model: Cost Structure

The Cost Structure for CubeSmart is heavily weighted toward fixed costs, which is typical for a real estate investment trust (REIT) focused on physical assets. You need to keep a close eye on these non-variable expenses because they create operating leverage when occupancy and rates rise, but they can quickly pressure cash flow if the market softens.

The most significant fixed cost component relates to the physical portfolio itself. This includes high fixed costs related to real estate ownership and the associated depreciation. For context on the scale of the asset base, as of June 30, 2025, CubeSmart's total consolidated portfolio comprised 659 stores totaling 48.1 million rentable square feet. Depreciation and amortization, a key non-cash fixed cost, was $128,086 thousand for the first six months of 2025. For the full year 2024, total Depreciation and amortization was $209,770 thousand.

Property operating expenses are another major area where costs are incurred, covering the day-to-day running of the facilities. These expenses are not entirely fixed, as they fluctuate with property count and usage, but they are substantial. For instance, property operating expenses increased by $9.0M in the third quarter of 2025 compared to the same period in 2024, and they increased by $5.9M in the second quarter of 2025 year-over-year.

Financing costs form a critical part of the structure, driven by the debt used to acquire and develop properties. The guidance for the full year 2025 for Interest and loan amortization expense is set between $118.0M and $122.0M [cite: Provided Guideline]. This is supported by recent quarterly figures, such as the $29.4M reported for the third quarter of 2025 and $29.1M for the second quarter of 2025. As of September 30, 2025, total debt stood at $3.42B.

Finally, the overhead required to manage the enterprise is captured in General and Administrative expenses. The full year 2025 guidance for General and administrative (G&A) expenses is guided between $63.0M and $64.0M [cite: Provided Guideline]. To give you a sense of the run-rate, the G&A expense for the second quarter of 2025 was reported at $63.0M.

Here's a quick look at the key cost line items and their scale:

Cost Component	2025 Full Year Guidance/Estimate	Most Recent Quarterly Actual (Q3 2025 or Q2 2025)
Interest and Loan Amortization Expense	$118.0M to $122.0M	$29.4M (Q3 2025 Interest Expense)
General and Administrative (G&A) Expenses	$63.0M to $64.0M	$63.0M (Q2 2025 G&A)
Property Operating Expenses (Y/Y Change)	Not Guided	Increased $9.0M (Q3 2025 Y/Y)
Depreciation & Amortization (Scale Proxy)	Implied by 2024 Full Year: $209.8M (2024)	$128,086 thousand (H1 2025 YTD)

You should watch the trend in Property Operating Expenses closely, especially since same-store operating expenses increased 1.2% in Q2 2025 versus Q2 2024, even though same-store NOI declined. Finance: draft the projected full-year interest expense based on the current debt balance and prevailing rates by next Tuesday.

CubeSmart (CUBE) - Canvas Business Model: Revenue Streams

You're looking at how CubeSmart turns its self-storage operations and management platform into actual dollars, which is the core of its Revenue Streams block. Honestly, it's a mix of direct rental revenue and fees from services, which helps smooth out the top line.

The primary revenue source is the rental income derived from its owned and consolidated properties. As of the end of the third quarter of 2025, the total consolidated portfolio stood at 659 stores, encompassing 48.1 million rentable square feet.

A key diversifying stream is the property management fee income earned from its third-party platform. For the full year 2025, the guidance for this specific income stream is set between $41.0M and $42.0M.

This fee income is supported by the growth in the managed portfolio. By the close of the third quarter of 2025, CubeSmart had added 46 stores to its third-party management platform, bringing the total count of third-party managed stores to 863.

CubeSmart also captures ancillary income. This includes revenue from retail sales, such as boxes and locks, and income generated from tenant insurance participation across both owned and managed stores.

The overall profitability metric that investors watch closely, Funds From Operations (FFO) per diluted share, is guided for the full year 2025 to be between $2.56 to $2.60.

Here's a quick look at some key operational metrics that feed into these revenue figures as of late 2025:

Metric	Value/Guidance	Source Context
Full Year 2025 FFO per Diluted Share Guidance (As Adjusted)	$2.56 to $2.60	Full Year 2025 Outlook
Property Management Fee Income Guidance (2025)	$41.0M to $42.0M	Required Outline Figure
Total Consolidated Stores (As of Q3 2025)	659 stores	Q3 2025 Results
Total Third-Party Managed Stores (As of Q3 2025)	863 stores	Q3 2025 Results
Same-Store Revenue Growth Guidance (2025)	(1.00%) to (0.25%)	Full Year 2025 Guidance Summary

You should keep an eye on how the revenue from the same-store pool is trending, as this reflects the performance of the existing asset base. For the third quarter of 2025, same-store revenue actually decreased by 1.0% year-over-year, even as same-store occupancy ended the quarter at 89.0%.

The business model relies on capturing value from every customer interaction, which is why ancillary income is important. For instance, the growth in customer storage protection plan participation contributes to total revenue increases alongside property acquisitions.

The structure of management fees is based on gross revenue, with facility-level expenses passed directly to the owner, which is a standard structure in the industry.

The revenue stream is also supported by capital activity, such as the recent issuance of $450 million in unsecured senior notes due 2035, which provides capital to support growth-related revenue drivers like acquisitions and developments.

To track this closely, focus on these elements:

• Rental income from the 48.1 million rentable square feet portfolio.
• The growth trajectory of the 863 third-party managed locations.
• The quarterly dividend, which was $0.52 per common share paid in October 2025.
• The latest FFO per share for the quarter ending September 30, 2025, which was $0.65.

Finance: draft 13-week cash view by Friday.