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.
Strategic Storage Trust Buys 11 Self-Storage Facilities for $44M
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired a portfolio of 11 properties for more than $44 million. ...More
Harbor Park Mini Warehouse Sold for $2.6M to Investment Group
Harbor Park Mini Warehouse, in Harbor Springs, Mich., recently sold to a local investment group, ARBKN LCC, for $2,665,000. ...More
American Self Storage Sells Bronx Facility to Public Storage for $17M
American Self Storage sold one of its self-storage facilities in New York to Public Storage for $17 million, which represented a 5 percent cap rate. The facility is on Southern Boulevard in the Bronx. ...More
Extra Space Storage Holds Grand Opening in Miami
A new 732-unit Extra Space Storage facility in Miami is celebrating its grand opening on June 11, 10 a.m. to 1 p.m., with free food, prizes and more. ...More
Williams & Williams to Auction Colorado Self-Storage Properties
Williams & Williams Worldwide Real Estate Auction will auction several self-storage facilities, RV and boat storage yards, and commercial and residential rental properties on Friday, June 17, in Fort Collins, Colo. ...More
Security Self Storage Acquires Facility in West Fargo, N.D.
Security Self Storage has acquired the former ABC Storage Center at 2100 Main Ave. E. in West Fargo, N.D. ...More
The Self-Storage Industry’s Extraordinary Times: How Long Will They Last?
Now’s a good time to buy, sell or refinance a self-storage property. The effects of the continuing low-interest-rate environment and increased investor confidence have been a boon for owners looking to sell or refinance as well as buyers on the market. ...More
Do It Yourself Storage in Sand City, Calif., Sells for $1.89M
Do It Yourself Storage in Sand City, Calif., a lender-owned property, was recently sold to a developer for $1.89 million. ...More
Amber Oak Storage & Square in Tehachapi, Calif., Sold for $2.8M
Amber Oak Storage & Square, a 76,740 net rentable square-foot self-storage facility in Tehachapi, Calif., sold for $2,835,000 million, or $36.94 per square foot. ...More
Self Storage REIT Executives to Present at REITWeek 2011
Executives from self-storage real estate investment trusts (REIT) Extra Space Storage Inc., and Sovran Self Storage Inc., and U-Store-It Trust will be presenting at REITWeek 2011, the investor forum for the National Association of Real Estate Investment Trusts (NAREIT). ...More