• The Offensive Lineup
    Many operators focus only on unit occupancies. As an owner, I know it’s an ego boost when occupancies are high. Maybe you’re hovering at 95 percent occupancy, have cut back marketing efforts and put the operation on cruise control. Why not? You have only a handful of units ...More
    November 7, 2006 Brad North Posted in Articles
  • Talking in Code
    Internal Revenue Code Section 1031 contains a mere 1,421 words, yet its significance can’t be overemphasized. Investors have enjoyed the advantages since 1921. The overriding principle—continuity of investment—is pretty simple. Boiled down, it means you should be able to ...More
    November 7, 2006 Mary Cunningham Posted in Articles, Finance
  • Properly Structured Construction Financing
    While most commercial real estate lenders understand retail, office, multifamily and industrial property types, fewer comprehend the nuances of self-storage construction financing. All too often, lenders apply financing parameters from other property types to self-storage ...More
    November 7, 2006 Richard M. Kerwin and Devin S. Huber Posted in Articles, Finance
  • The Cup Runneth Over
    Real estate operators have an unparalleled chance to solidify equity capital for the next three to five years, thanks to the strength of the self-storage industry and availability of institutional capital. Establishing a joint venture with an institutional partner positions ...More
    November 7, 2006 John R. Nikolich Posted in Articles, Finance
  • What Will Your Computer System REALLY Cost?
    Today’s technology craze makes computer-purchasing decisions difficult and confusing. Before stepping into a showroom, buyers must consider budget constraints. Nevertheless, a tight budget shouldn’t steer you toward trouble disguised as a cheap computer. Every business ...More
    November 7, 2006 Tredd Barton Posted in Articles, Technology
  • Getting Inside Your Customer’s Mind
    We spend a lot of time learning and practicing the right things to say to prospects and customers, which is a good thing but not the most important. The key words are those customers are saying to themselves. The whole time you are talking to a customer, that person is also ...More
    November 7, 2006 Tron Jordheim Posted in Articles
  • Collins Construction Group
    With Extra Space Self Storage and Storage USA among its stable of clients, Collins Construction Group is earning a solid reputation in the self-storage industry. The diverse project portfolio of the Alpharetta, Ga.-based contractor runs the gamut from retail centers to ...More
    November 7, 2006 Elaine Foxwell Posted in Articles
  • Do Your Homework!
    I recently spoke with someone new to the industry who was certain he owned the best development site on the planet. When I asked about his feasibility study, he sternly told me his county was the “fastest growing in America,” all local competitors were completely full, and ...More
    November 7, 2006 Benjamin Burkhart Posted in Articles, Development, Finance
  • Navigating the Mortgage Maze
    A major factor in the profitability and success of a self-storage facility is mortgage financing. Balancing your long and short-term goals can be tricky—but necessary. Here are some common questions and answers to guide you through the maze. What is the best type of ...More
    November 7, 2006 Anthony DiMarco and Gerard D. DiMarco Jr. Posted in Articles, Finance
  • Conduit Lending
    For self-storage, most of the long-term, fixed-rate financing (10 years or longer) is provided by the Wall Street “conduit” market also known as “securitized” lending. These loans are originated around the country collateralized by various property types, pooled together in ...More
    November 7, 2006 David Smyle Posted in Articles, Finance