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 Acquires Self-Storage Facility in Mesa, Ariz.
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired Augusta Ranch Self Storage in Mesa, Ariz. ...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
Marcus & Millichap CEO Shares Real Estate Outlook on CNBC 'Squawk on the Street'
Harvey E. Green, president and CEO of Marcus & Millichap Real Estate Investment Services, was featured on CNBC’s “Squawk on the Street” on March 30, discussing the recent performance of the real estate investment trust sector and providing an outlook for commercial real ...More
The Canadian Finance Market: Alternative Options for Self-Storage Owners
Financing remains one of the most critical issues in the world of Canadian self-storage. Although there are more lending restrictions, there are many storage operators who maintain excellent operations and are currently eyeing expansions, acquisitions or development ...More
Storage Deluxe Developing Self-Storage Facility in Queens
Storage Deluxe is building a new self-storage facility in Queens, N.Y. The Manhattan-based developer and operator purchased three-quarters of an acre in College Point for $13.3 million. The developer obtained $8.2 million in financing from M&T Bank for the construction ...More
Marcus & Millichap Agents Sell Highway 79 Super Storage in Temecula, CA
Agents of Marcus & Millichap sold Highway 79 Super Storage in Temecula, Calif., for $7 million, a reported 93 percent of the asking price. ...More
Extra Space Storage Features Zoo Animals at Facility Grand Opening in Florida
Wild Grand Opening is the theme for the opening of Extra Space Storage of Naranja, in Hialeah, Fla. The event, April 10 from 11 a.m. to 3 p.m., will feature animals from The Zoological Wildlife Foundation. ...More
Extra Space Storage of South Brunswick (NJ) Celebrates Opening
Extra Space Storage Inc. will celebrate the opening of Extra Space Storage of South Brunswick in South Brunswick, N.J., Saturday from 11 a.m. and 3 p.m. ...More
Bermuda Self-Storage Facilities Leasing Up Before Opening
Two new self-storage facilities slated to open this spring in Bermuda are already seeing a lot of interest from the locals. ...More
HFF Secures $5.1M in Refinancing for Newark Self-Storage Facility
The New Jersey office of HFF (Holliday Fenoglio Fowler L.P.) secured a $5.1 million refinancing for a 63,813-square-foot self-storage facility in Newark, N.J. ...More