The process of buying or selling a self-storage facility has become more rigorous as markets have become more competitive and changes in the economy impact property value. To know the accuracy of a self-storage appraisal, a self-storage owner should have a clear understanding of facility value and the effect of capitalization (cap) rates. A buyer should complete a comprehensive due-diligence process to know if an investment is financially sound.
U-Store-It Buys Two Storage Deluxe Facilities in N.Y.
U-Store-It acquired two N.Y. self-storage facilities totaling 2,204 units from Storage Deluxe for an undisclosed price. The facilities are located in Bronx and Brooklyn and include 12,160 square feet of warehouse space. ...More
Sovran Self Storage CFO to Present at Western New York Investors Conference
David Rogers, chief financial officer of Sovran Self Storage Inc., will present at the 2010 Western New York Investors Conference on Sept. 24, 11 a.m. ET. The event will be held at the Hyatt-Regency Hotel in Buffalo, N.Y. ...More
The Shifting Financial Landscape in Self-Storage: Understanding the Market and How Good Deals Get Done
While the past two years have changed the landscape for self-storage borrowers and lenders, one truth in lending remains: Good deals get done. This article paints a picture about today’s financial landscape. ...More
New Self-Storage, Retail Complex Proposed for McHenry, Ill.
A new self-storage facility and retail strip mall may be constructed on a 3-acre plot in McHenry, Ill., by land owner Thomas Grieco. According to city documents, the proposed project would include 13,560 square feet of self-storage space for 230 units in five buildings. ...More
San Diego Self Storage Acquires Facility in Temecula, Calif.
San Diego Self Storage expanded into Temecula, Calif., with the acquisition of Butterfield Ranch Self Storage. The 635-unit storage facility is on nearly 5 acres of land at the corner of Highway 79 and Butterfield Stage Road. ...More
Marcus & Millichap Hosts Free Webcast on Office and Industrial Market Outlook
Marcus & Millichap Real Estate Investment Services Inc. will host a free webcast on Sept. 22, 1:30 p.m. ET, titled, “Third Quarter 2010 Office and Industrial Market Outlook and Investment Strategies.” ...More
Sure Save USA Self-Storage Sold for $3.4M
Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans, sold for $3.4 million. The facility consists of 736 units, 640 of which are climate-controlled. ...More
Lock and Leave Sold to N.J. Self-Storage Owners
Lock and Leave, a 50,000-square-foot facility in Cherry Hill, N.J., recently sold in a short sale to Hampshire Cos. The facility, located just off the intersection of Route 70 and Interstate 295, was sold as a turnkey property. ...More
StorageVault Canada to Acquire Parksville Mini Storage in British Columbia
StorageVault Canada Inc. has agreed to acquire Parksville Mini Storage in Parksville, British Columbia, Canada for $2.8 million. If all conditions of the acquisition agreement are satisfied, the transaction will close on Nov. 1. ...More