The self-storage real estate market has drastically changed over the past decade. Owners and investors looking to acquire a self-storage facility need to understand the buying process including due diligence, capitalization (cap) rates, self-storage appraisals and methods for determining property value. Self-storage purchasers should keep up-to-date on new real estate acquisitions, project expansions and financial information. They may also find it helpful to work with a real estate broker who specializes in the field of buying and selling self-storage properties.
TSRE III Buys Third Self-Storage Property in Memphis, Tenn.
TSRE III Kirby Raines LLC purchased a self-storage facility in Memphis, Tenn., from Kirby Raines Self Storage LLC for $1.9 million. The company financed the purchase with a $1.4 million loan through Virtus Storage Investment III LP. It’s the third Memphis self-storage ...More
Wilmington Capital Releases Second-Quarter 2010 Results
Wilmington Capital Management Inc., which owns self-storage facilities in Canada, announced net income for the three months ending June 30, 2010. ...More
Buy, Sell or Hold? To Maximize Your Self-Storage Investment, Understand Your Objectives
Self-storage operators who are considering selling their property—and even investors getting into the industry—should understand their objectives and how to execute them to maximize their investments. ...More
Keller Williams Launches Self-Storage Referral Program
Keller Williams, a real estate company with 700 offices and more than 80,000 residential agents, has launched a referral program that teams its real estate agents with self-storage operators. ...More
Safe-Keeping Self Storage in Houston Sold to WEDGE Real Estate Holdings
Safe-Keeping Self Storage, a 539-unit self-storage facility in southeast Houston, sold to a subsidiary of WEDGE Real Estate Holdings for an undisclosed amount. ...More
Strategic Storage Trust Adds Sixth Florida Location to Self-Storage Portfolio
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired an approximately 1,040-unit self-storage facility in Davie, Fla., the company’s sixth acquisition in the Florida market. ...More
Wilmington Capital Management Acquires 12 Self-Storage Facilities in Ontario
Wilmington Capital Management Inc. will acquire a 45 percent indirect interest in a portfolio of 12 self-storage facilities in southwestern Ontario, Canada, for an estimated $20.7 million. ...More
Highlands Storage in Lakeland, Fla., Sells for $1.25M
Highlands Storage, a 59,102-square-foot self-storage facility in Lakeland, Fla., sold for $1.25 million to a private investor. ...More
Ye Olde Storage Inn Sells for $1.2M
Ye Olde Storage Inn, a 50,220-square-foot facility in St. Joseph, Mich., sold for $1.2 million. ...More
Barker Pacific Group Acquires A-American Self Storage in Santa Maria, Calif.
Barker Pacific Group, a Cerritos, Calif., real estate developer, acquired A-American Self Storage in Santa Maria, Calif., from A-American/Santa Maria Storage Partners for $4.5 million. ...More