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.
Investment Real Estate Brokers Sell Two Self-Storage Facilities
Investment Real Estate LLC brokered the sale of two self-storage facilities: Tablers Station Self Storage in Martinsburg, W.V., and Easy Self Storage in Plattsburgh, N.Y. ...More
HFF Secures $6M for Self-Storage in Berkeley Heights, N.J.
Jon Mikula and Michael Klein of the New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) secured $6 million in financing on behalf of The Hampshire Cos. for Berkeley Heights Self Storage in Berkeley Heights, N.J. ...More
StorageVault Completes Acquisition of Canadian PUPS Storage
StorageVault completes acquisition of the assets of Canadian PUPS Storage Inc. and the closing of the master franchise agreement with Canadian PUPS Franchises Inc., which provides portable-storage franchises throughout Canada. ...More
New York Self Storage Association Finance & Real Estate Summit
The 2008 New York Self Storage Association Finance & Real Estate Summit Nov. 20 drew an impressive attendance of eager New York-area owners, operators and investors. Intense panel discussions offered timely straight talk on capital markets, objective views on accurate ...More
Three-Story Self-Storage Facility Approved in Manchester, Conn.
Land and approvals for an 81,275-square-foot, three-story self-storage facility in Manchester, Conn., were sold to a regional self-storage partnership. Investment Real Estate provided the seller with its initial feasibility study prior to its purchase of the land, and IREM ...More
RE/MAX Represents Seller of Platte County Mini Warehouse
Larry Goldman, of RE/MAX Best Associates, represented the seller of Platte County Mini Warehouse in Tracy, Mo. The property, which sold for $1.9 million, has 45,100 rentable square footage on 4.19 acres. The new owner plans to expand the property with a mixture of climate ...More
Understanding Self-Storage Real Estate Value During a Credit Crisis
The decline of commercial real estate values during the current credit crisis does not accurately reflect self-storage values. Self-storage owners are counseled to evaluate all facets of the market before determining their facilities’ true worth. ...More
StorageOp Acquires Rhode Island Facility
Storage Opportunity Partners LLC (StorageOp) acquired Aquidneck Island Self Storage in Middletown, R.I. Built in 2004, the facility consists of four two-story storage buildings with 62,700 rentable square feet and 531 storage units, including climate controlled or direct ...More
Self-Storage in the Western States: Real Estate Snapshot
Self-storage real estate brokers discuss rental rates, finance, cap rates, inventory and sales through the West. The conversation encapsulates current economic influences on self-storage locales. ...More
Locke Acquisition Represents Sovran in Purchase of Four Facilities
Angelo Tomasello and Peter Weimer of The Locke Acquisition Group LLC represented Sovran Self Storage Inc. in its acquisition of four self-storage facilities in Miami, Fla., Atlanta and Columbus, Ohio markets. Sovran will operate the properties under the Uncle Bob's Self ...More