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 SmartStop Self Storage in Hampton, Va.
Strategic Storage Trust Inc. purchased the SmartStop Self Storage facility at 815 Lasalle Ave. in Hampton, Va., from Quality Properties Asset Management Co. for $4.9 million. ...More
Sovran Self Storage Forms Joint Venture to Buy 19 Properties
Real estate investment trust Sovran Self Storage Inc. has formed a second joint venture with an affiliate of Heitman LLC to purchase 19 self-storage facilities throughout New Jersey (19) and Pennsylvania (2). ...More
Spacebox Self Storage Opens in Fort Walton Beach, Fla.
Outback Management LLC, a Hattiesburg, Miss.-based company, opened a Spacebox Self Storage in Fort Walton Beach, Fla. ...More
Risks and Opportunities in the Current Real Estate Market: Protecting Self-Storage Facility Value
There are many factors that affect self-storage facility value, and today's real estate market creates risks as well as opportunities for today's industry owners and investors. Read about cap rates, interests rates and other value influencers as well as ways to protect your ...More
Hill Country Self Storage of Cedar Park, Texas, Sold to Private Owner
Hill Country Self Storage in Cedar Park, Texas, a suburb of Austin, was recently sold to Don Clauson, a local owner. The 555-unit, 68,777-square-foot facility was built in 2005 and was 85 percent occupied at the time of sale. ...More
Red Storage in Miami Sold to Sentry Self Storage
Red Storage at 3300 N.E. 2nd Ave. in Miami, Fla., was recently sold to Sentry Self Storage. Sentry’s owner will operate the 670-unit, 44,449-square-foot facility along with his other property in Coral Springs, Fla. ...More
Atlas Self Storage in NY Sold
Atlas Self Storage in Chester, N.Y., sold to Guardian Self Storage of Poughkeepsie, N.Y., in an all-cash transaction. ...More
Fox Self Storage Opens New Facility in United Kingdom
Fox Self Storage, a self-storage company with several locations in the United Kingdom, recently opened a new facility in Newport. ...More
Strategic Storage Trust Purchases 3 Facilities for $12.2 Million
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust targeting the self-storage market, acquired three facilities totaling 2,100 units for a value of about $12.2 million. All three facilities will be rebranded SmartStop Self Storage. ...More
American Self Storage Portfolio Sold for $39.5M
The portfolio for American Self Storage, with facilities in Indiana, Kentucky and Ohio, recently sold for $39.5 million to Extra Space Storage Inc., a self-storage real estate investment trust. ...More