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.
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
Absolute Self Storage in Dallas Sells for $775k
Absolute Self Storage in Dallas sold for $775,000. The 35,630-square-foot self-storage facility has eight buildings and 295 units. Marcus & Millichap Real Estate Investment Services, a nationwide real estate investment services firm, brokered the sale. ...More
Self-Storage in the North-Central States: Real Estate Market Snapshot 2010
I recently assembled a roundtable of real estate experts to discuss the state of self-storage in the north-central region. I’ve asked them to comment on the state of the industry market in their areas and share their thoughts on how the industry will perform in the future. ...More
Budget Store & Lock Buys Two Properties
By acquiring two self-storage sites, Budget Store & Lock has increased its market share in the Lehigh Valley area of Pennsylvania. ...More
Papermill Self Storage in Tennessee Sells for $2M
Papermill Self Storage, a 55,067-square foot self-storage facility in Knoxville, Tenn., sold for just over $2 million. ...More
Buying or Selling Self-Storage Property: Should You Hire a Broker?
It’s important to understand the role of the broker before you hire one. If a self-storage facility is priced properly and a good marketing plan is executed, the property will sell in a reasonable amount of time and the client’s objectives will be met. ...More
Investment Real Estate Group Promotes Deller to Assistant Controller
Debi A. Deller was promoted to the position of assistant controller for the Investment Real Estate Group of Cos. Previously, Deller was a facility accountant and managed accounting portfolios for a number of facilities under management. She has been with the company for ...More
Midcoast Properties Brokers Sale of Georgia Self-Storage Facility
Dale C. Eisenman, president of Midcoast Properties Inc., represented the seller in the sale of American Storage to a private investor. ...More
Strategic Storage Trust Acquires Fifth Self-Storage Facility in Florida Market
In an all-cash transaction, Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self storage market, acquired a 1,600-unit self-storage facility in Oakland Park, Fla., the company's fifth in the market. ...More
Public Storage to Buy 30 Self-Storage Facilities for $189M
Public Storage, a self-storage real estate investment trust, entered into an agreement to purchase 30 self-storage facilities for $189 million, subject to customary closing conditions, including debt assumption of up to $126 million. ...More