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Buchanan Launches Financial Resources Website
Buchanan Storage Capital revamped its website to function as a business tool and financial resource for the self-storage industry. Customers can now quickly access industry information such as events and news, links to nationwide storage associations, current debt and equity programs, and recent transactions. Additionally, the site includes an economic indicators section with real-time postings of relevant economic rates. Info: www.buchananstorage.com
AGC Predicts Increase in Construction Costs
Increases in construction costs slowed noticeably in the last half of 2006, but relief is likely to be short-lived and may have already ended, according to a report by the Associated General Contractors of America (AGC). The report predicted materials costs could rise 6 percent to 8 percent by the end of the year, with wages rising 5 percent.
The AGC also released its fourth Construction Inflation Alert, revealing construction is vulnerable to high price increases because the industry has little ability to avoid using materials that are in strong demand and for which supplies increase irregularly.
Highway and other heavy construction are more likely to experience large price jumps than building construction segments due to greater volatility in petroleum, concrete and metals products. The industry may be entering an era of accelerating wage and salary costs. From February 1997 to February 2007, the industry created one-out-of-10 new jobs in the economy, double the industry’s share of overall employment. Construction employment increased by nearly 2 million, or 33 percent. Info: www.agc.org
eMove Joins OpenTech Alliance Partner Program
eMove, a subsidiary of U-Haul International, has joined the OpenTech Alliance Partner Program. OpenTech’s Insomniac self-storage kiosk is now available for eMove Storage Affiliates running WebSelfStorage management software.
eMove is an online marketplace that connects consumers to a network of more than 7,000 self-storage facilities and moving helpers. Its Storage Affiliate Program provides storage operators with access to the eMove 1-800 and Internet reservation system, web-based management software, Storage Affiliate Call Center, Secured Online Affiliation Rentals (S.O.A.R), co-branded rental trucks, and savings on insurance and credit card processing. Info: www.opentechalliance.com
OpenTech is the developer of Insomniac self-storage kiosks, which allow tenants to rent units, make payments, update account information, purchase insurance, buy locks, view video presentations about storage, etc., 24 hours a day. Info: www.opentechalliance.com
Selfstorage.com Gets Record Hits
In March, more than 40,000 visitors accessed the resources of www.selfstorage.com. Nearly 20,000 storage renters used the site to find a local facility. Additionally, 15,500 visitors accessed the real estate resources provided by the Argus Self Storage Sales Network and downloaded more than 10,000 documents with property information, articles and listings. Info: www.selfstorage.com
Florida Self Storage Association News
The Florida Self Storage Association (FSSA) will hold its annual conference expo at the Caribe Royal Resort in Orlando, Fla., Oct. 31-Nov. 2. The event includes a developers’ seminar, educational sessions, roundtable discussions and more.
The FSSA also announced a boat and vehicle storage lease is available to members for $199. The document, created and approved by an attorney, specifically covers the rental of space for outdoor storage.
In addition, FSSA’s Charitable Committee has established a donation fund to support worthy causes. To contribute, send a check to: Florida Self Storage Association, 3801 McIntosh Rd., Sarasota, FL 34232. Write “Charity Fund” in the memo field. Info: 941.377.2838; www.floridassa.org
ISS Reno Expo to Address Canadian Storage Issues
Inside Self-Storage extends a special invitation to members of the Canadian self-storage community for its upcoming Summer Expo in Reno-Tahoe, Nev., July 24-27, 2007.
The event will take place at the Atlantis Resort Casino & Spa and Reno-Sparks Convention Center. Attendees will be able to network and share insights with colleagues at the “Self-Storage Canada Social,” an evening reception focusing on industry developments in the provinces. A presentation and open Q&A session with a panel of experts will shed light on key development and operational issues including self-storage growth in Canada, investment differences between regions, financing, construction and marketing. Info: www.insideselfstorage.com/expo