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Corporate Responsibility

At CubeSmart, we know that our long-term success is not solely about what we do, but more importantly about how we do it. We own and operate more than 1,000 self-storage properties nationally; employ more than 2,800 teammates; and deliver award winning customer service to over 525,000 customers in the communities in which we operate. With that in mind, we are focused on the sustainability and efficiency of our self-storage properties, teammate engagement, investor and community outreach, diversity, and sound corporate governance practices.

Stakeholder Engagement

We are committed to growing strategically and consciously in a sustainable manner that is beneficial to all our stakeholders as we expand and maintain a national portfolio of self-storage properties. We consistently interact with our stakeholders to ensure that our sustainability priorities and goals are aligned.

Stakeholders Areas of Focus Approach to Stakeholder Engagement
Our Teammates
  • Mission and purpose
  • Team culture
  • Professional growth
Our team culture is about making a difference and showing genuine care for each other and our customers. We strive to foster an engaging and collaborative environment where teammates are connected through multiple communication channels including an internal social network. We offer comprehensive training programs and career development opportunities providing teammates continuous professional growth. Finally, we measure the success of our engagement initiatives with an annual employee engagement survey.
Our Customers
  • Customer service
  • Third-party management
  • Mission and purpose
Customer service is the central pillar of our culture as we strive every day to provide our customers with the best possible storage experience. We listen to what our customers have to say through internal surveys coupled with reviews posted on our website or through social media. We also provide the same level of service to our third-party owners, providing them with dedicated client relationship managers and real-time reporting.
Our Investors
  • Long-term value creation
  • Operational results
  • ESG Initiatives
We remain committed to producing superior results and creating long-term value for our shareholders. We value the opportunity to communicate the CubeSmart story with investors and analysts through our quarterly earnings calls, investor meetings, and property tours.
Our Communities
  • Minimize environmental impact
  • Economic growth
  • Investment in the community
We remain focused on sustainably maintaining our portfolio to ensure they remain visually attractive while pursuing opportunities to improve energy-efficiency. Charitable work is important to us, as we offer donated storage units to local non-profits and volunteer our teammates’ time through days of service and other events.

Environmental Impact

CubeSmart’s portfolio of over 1,000 properties ranges from newly developed stores to stores that were built more than 40 years ago. We proactively pursue environmental and energy-efficient initiatives that positively impact the well-being of our customers, teammates and communities, while also improving our profitability.

Compared to other commercial property types, self-storage has a relatively low environmental impact in our communities. Approximately 50% of our square footage is non-climate controlled storage and for properties that offer climate controlled storage, the inside temperature varies from 55 to 80 degrees requiring relatively less energy to heat or cool than traditional property types. Water usage at our stores is relatively low, but we continue to look for ways to reduce our usage further such as indigenous landscaping that requires little to no additional watering. Additionally, self-storage on a daily basis does not generate a lot of customer activity, minimizing traffic congestion in the community.

At CubeSmart, we have reduced the environmental impact at our stores through the following programs and initiatives:

  • High-efficiency lighting retrofit
    Since 2015, CubeSmart has completed lighting retrofits at 134 stores in 17 states and the District of Columbia. These lighting upgrades save approximately 150,000 kW of energy consumption annually or the reduction of CO2 emissions equivalent to the burning of 59 tons of coal.

  • Solar panel installation
    Since 2016, CubeSmart has completed 42 solar projects at wholly-owned stores located in five states. In aggregate, these solar projects generated 3,455MWh of power in 2018, or the savings of greenhouse gas emissions equivalent to removing 519 cars from the road annually.

  • HVAC upgrades
    Since 2014, CubeSmart has upgraded 808 low-efficiency R-22 HVAC units with Energy Star, high-efficiency R410 units at 251 wholly-owned properties.

  • Energy management systems installation
    Since 2010, CubeSmart has installed 76 energy management systems at wholly-owned stores that monitor and control a store’s interior temperature and the timing of energy usage.
    Energy Management Savings Chart

  • Properties Developed to LEED Standards
    While CubeSmart does not have a stand-alone development program, we encourage our development partners to use recyclable materials during construction when possible and to install equipment and systems that maximize the energy efficiency of the property.
    6133 East Ben White Boulevard, Austin, Texas
    6133 East Ben White Boulevard, Austin, Texas
    • LEED-Platinum Certified
    • Solar Panels
    • Energy Management System
    • Water Capture and Re-use
    • Motion Control Lighting
    1701 Florida Avenue Northwest, Washington, D.C.
    1701 Florida Avenue Northwest, Washington, D.C.
    • Green Roof
    • Energy Management System
    • Motion Control Lighting
    • Energy Star HVAC


  • Paperless lease agreements and recycling programs
    Since CubeSmart initiated a paperless lease system in 2014, paper usage at the stores have been reduced by 82%. We have a company-wide computer and office equipment recycling program that properly disposes of electronic waste. Additionally, water filling stations and recycling bins are located throughout CubeSmart’s headquarters, encouraging teammates to utilize re-usable cups and bottles and to minimize landfill waste.

  • Partnering with American Forests Global ReLeaf Program
    In partnership with American Forests Global ReLeaf Program, CubeSmart offers customers the option to opt into our “Plant a Tree” program when reserving a storage unit online or by phone. Since initiating the program in 2010, approximately 123,800 trees have been planted in reforestation projects located in Florida, Michigan, Minnesota, and Virginia. As a result of our Plant a Tree program, approximately 619 acres of habitat have been restored that will absorb over 297,000 metric tons of carbon and filter 4.5 billion gallons of water over the lifetime of the trees.

Social - Employees

At CubeSmart, we refer to our employees as teammates, because collaboration towards shared goals defines our workplace. We care deeply about providing a great work experience and competitive reward offerings that reflect our culture.

  • In 2018, our annual employee engagement survey had an 80% participation rate.
  • We recently launched a digital platform called “Spotlight”, where teammates are recognized and rewarded for their contributions.

Our teammate employment offering includes:

  • Base salary plus bonus opportunity
  • Paid time off
  • Healthcare (medical, dental, and vision)
  • 401(k) plan with company match
  • Tuition reimbursement
  • Paid maternity leave
  • Short-term disability

Another important aspect of our culture and the work experience at CubeSmart is how we respect, value, and celebrate the unique attributes, characteristics, and perspectives that make each teammate who they are. We recognize that gender, age, race, color, religion, creed, pregnancy, sexual preference or orientation, gender identity and/or expression, genetic information, marital status, national origin, ancestry, citizenship, military status, veteran status, physical ability, thinking style, and background enhances and enriches the work environment. Through diversity, we are firmly rooted in building and maintaining a culture of mutual respect.

Gender Age
<30 30-50 >50
Male Female Years Old Years Old Years Old
Store Operations 1,124 1,422 774 1,114 658
Corporate 105 79 50 103 31
Sales Center 41 41 31 33 18
Total 1,270 1,542 855 1,250 707
% Racial Minorities 48% 50% 65% 50% 27%
As of December 31, 2018

At CubeSmart, we are committed to growing our talent and promoting from within. We offer comprehensive learning and development opportunities that enable teammates to maximize their potential. CubeSmart’s emphasis on collaboration and customer service provides the foundation of the initial and continuous training that teammates receive upon joining the Company. Depending on the position, new teammates receive at least 40 hours of training in their first year, which may include classroom instruction, one-on-one field training, webinars, and online courses covering topics that range from job-specific to computer security best practices and work place diversity.

Social - Community

At CubeSmart, we are proud to not only serve our customers and teammates, but also the communities in which we operate. From Leisure City, Florida, to San Diego, California; from Haverhill, Massachusetts, to Seattle, Washington, and all spots between, CubeSmart and its teammates are responsible and respectful members of the communities in which we reside and operate and the world in which we live.

Teammates dedicate their time and energy to create positive change in their local neighborhoods by volunteering or supporting fundraising events of varying size and focus. We’re proud to support numerous local charities and fundraising events in some of the following ways:

  • Since 2015, teammates from our corporate office have volunteered more than 1,650 hours through our Day of Service program, assisting 14 different charities, such as Habitat for Humanity, Main Line Animal Rescue, and Good Samaritan Shelter.
  • Since 2017, we have donated more than 1,000 storage units to local charities in communities where our stores are located.
  • In 2018, 458 stores participated in CubeSmart’s Toys for Tots collection drive.
Toys for Tots Wings for Success

Governance

The Board of Trustees Corporate Governance Guidelines, along with our Code of Business Conduct and Ethics, highlight the principles that foster sustained shareholder, business partner, and customer confidence. Our Board of Trustees recognizes the importance of diversity and good corporate governance and is dedicated to maintaining high governance standards through the following practices:

  • Seven of eight trustees are independent
  • 37.5% are female, including the Board Chair
  • Separate positions of Chair and Chief Executive Officer
  • Annual election for Board of Trustees
  • Regular executive sessions of independent trustees
  • Annual Board and committee self-evaluations
  • Risk oversight by Board and committees
  • All Board committees are chaired by and composed of only independent trustees
  • Share ownership guidelines for executive officers and trustees
  • Anti-hedging and anti-pledging policies for executive officers and trustees
  • Corporate governance guidelines
  • Code of business conduct and ethics
  • Annual say-on-pay votes
  • Highest ISS Corporate Governance score

Going Forward

CubeSmart’s mission is to simplify the organizational and logistical challenges created by the many life events and business needs of our customers – through innovative solutions, unparalleled service, and genuine care. We view our ESG initiatives as part of this mission. Going forward, we will continue to seek out opportunities to reduce the environmental impact of our stores, improve engagement with our teammates, investors, and the communities in which we operate, and adopt sound corporate governance practices.