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.
Lending Improves for Small-Business Owners
A survey released Monday by the Federal Reserve shows big banks are beginning to ease up on stringent lending standards for small businesses. It’s the first time this has happened since late 2006. ...More
TSRE III Buys Third Self-Storage Property in Memphis, Tenn.
TSRE III Kirby Raines LLC purchased a self-storage facility in Memphis, Tenn., from Kirby Raines Self Storage LLC for $1.9 million. The company financed the purchase with a $1.4 million loan through Virtus Storage Investment III LP. It’s the third Memphis self-storage ...More
Wilmington Capital Releases Second-Quarter 2010 Results
Wilmington Capital Management Inc., which owns self-storage facilities in Canada, announced net income for the three months ending June 30, 2010. ...More
StorPlace Self Storage Opens in Hendersonville, Tenn.
StorPlace Self Storage recently opened at 1010 Avondale in Hendersonville, Tenn. It’s the facility’s first location in Sumner County and the twelfth in the Nashville area. ...More
Buy, Sell or Hold? To Maximize Your Self-Storage Investment, Understand Your Objectives
Self-storage operators who are considering selling their property—and even investors getting into the industry—should understand their objectives and how to execute them to maximize their investments. ...More
Keller Williams Launches Self-Storage Referral Program
Keller Williams, a real estate company with 700 offices and more than 80,000 residential agents, has launched a referral program that teams its real estate agents with self-storage operators. ...More
Public Storage Announces Stock Dividend for Third Quarter 2010
Self-storage real estate investment trust Public Storage Inc. has declared a quarterly stock dividend for the third quarter of 2010 of 80 cents. ...More
First Choice Self Storage Facility Sold for $5.1M
First Choice Self Storage in Fontana, Calif., sold for nearly $5.1 million to Union Development Financial. ...More
Three Self-Storage Facility Sales Brokered by Argus Affiliates in July
Affiliates of the Argus Self Storage Sales Network, which has 36 broker affiliates in nearly 40 markets, brokered three self-storage sales in July. ...More
Minh Tran Joins The Jenkins Organization
Minh Tran has joined The Jenkins Organization Inc., a Texas-based commercial real estate and development company, as director of storage acquisitions. ...More