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 Expands Portfolio in Metro Atlanta
Strategic Storage Trust, a non-traded self-storage real estate investment trust, has expanded it portfolio with the purchase of two facilities in Alpharetta and Marietta, Ga. ...More
Grubb & Ellis Hires Director, VP of Self Storage Group
Real estate investment and services firm Grubb & Ellis Co. hired Steve Mellon as vice president and director of its Self Storage Group. ...More
Metro Self-Storage of Elmhurst Celebrates Grand Opening
Metro Self Storage in Elmhurst, Ill., will host a grand opening June 11. ...More
Morningstar Mini-Storage Opens Third Charlotte Facility
Morningstar Properties LLC, in its joint venture with Harrison Street Real Estate Capital LLC, opened its third Morningstar Mini-Storage facility in Charlotte, N.C., this month. ...More
U-Store-It Announces Second Quarter 2009 Dividend
The board of trustees for U-Store-It Trust, a self-storage real estate investment trust, has declared a quarterly dividend of $0.025 per common share for the period ending June 30, 2009. ...More
Storage Express Opens in Bedford, Ind.
Bloomington, Ind.-based Storage Express recently celebrated the grand opening of its newest facility in Bedford, Ind. Storage Express is excited to be the first to offer heated and cooled spaces and high-tech security in this small Midwestern community. ...More
LeClaire Sells Albuquerque U-Store-It Facility
Charles “Chico” LeClaire of Marcus & Millichap announced the sale of a U-Store-It facility in Albuquerque, N.M., the 21st self-storage facility he has sold for U-Store-It in the past year. ...More
Florida Self-Storage Businesses Suffer
Self-storage businesses in Florida are suffering, as foreclosures and bankruptcies force customers to forego storing their goods. ...More
SoCal Sees First Lender-Foreclosed Self-Storage of 2009
All-Storage in Lancaster, Calif., is the first lender-foreclosed self-storage facility to be available in Southern California in 2009. ...More
Is Your Self-Storage Loan Overleveraged?
The fact is banks are lending and deals are getting done in today’s market environment. Lenders are much more selective, there are fewer of them, and there is far less availability of non-recourse capital. However, you can find a good loan if you know where to look and have ...More