David W. Fleming
David W. Fleming, 36, a former self-storage manager and columnist for Inside Self-Storage, died on March 17. David started his self-storage career in Oaks, Pa., where he became the winner of the ISS 2000 Manager of the Year award. He went on to co-manage facilities with his wife, Tina. The couple moved through several states where David served as area manager, trainer, regional manager and director of operations for some of the industry’s finest operators.
David enjoyed meeting new people and speaking to groups. He presented at many state and national tradeshows on “Successful Facility Management.” His ISS column, “From Behind the Counter,” provided managers with a hands-on perspective of the industry. He will be greatly missed by his self-storage friends and co-workers. A trust has been set up for David’s son. Donations can be sent to:
D. Chase Fleming Foundation c/o
991 S. Township Line Road
Royersford, PA 19468
Tina may be contacted at firstname.lastname@example.org.
Public Storage CEO Gets Bonus
Public Storage Inc. President and Chief Executive Ronald L. Havner Jr. received a $715,000 bonus for 2005, according to MarketWatch. The Glendale, Calif., self-storage company’s annual report filed with the Securities and Exchange Commission stated that Havner’s 2005 salary was $659,875 and he also received 83,000 stock options for the year.
U-Store-It Prez Resigns
U-Store-It Trust, a self-storage real estate investment trust, announced the resignation of President and Chief Financial Officer Steven Osgood, who left in April to pursue other opportunities. Tedd Towsley, vice president and treasurer, was named interim CFO. The company will seek a permanent replacement.
Buchanan Opens East Coast Site
Buchanan Storage Capital, which arranges debt and equity for self-storage owners, has expanded its national platform with the opening of an East Coast location to complement its Atlanta office. The company opened its new Washington, D.C., site under Vice President Hugh Kreizenbeck, who is responsible for the origination of permanent debt and bridge-loan financing for clients in the Northeast and mid-Atlantic regions. Call 800.675.1902; visit www.buchananstoragecapital.com.
Canada’s StorageMaxx Sold
Toronto-based Storage Now bought competitor StorageMaxx in what may be Canada’s largest self-storage portfolio acquisition, according to Storage Now CEO Andrew Blair. The April purchase included seven StorageMaxx self-storage facilities: two in Greater Toronto; two in Alberta; and three in Saskatchewan.
“With the four facilities we already have in Greater Toronto, we now have 11 properties across the country, making us one of the largest operators in Canada,” Blair said.
Storage Now’s goal is to become the dominate owner of high-quality self-storage in Canada. The company plans to buy existing facilities as well as develop them from the ground up, unlike StorageMaxx, which focused on acquisitions, Blair said.
“We are going to be a leading force in changing the quality and nature of Canadian self-storage,” he said. “I don’t know of anyone that combines our ability to operate, develop and professionally manage ... with a retail orientation.”