Real Estate

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.

  • Locke Acquisition Represents Sovran in Purchase of Four Facilities
    Angelo Tomasello and Peter Weimer of The Locke Acquisition Group LLC represented Sovran Self Storage Inc. in its acquisition of four self-storage facilities in Miami, Fla., Atlanta and Columbus, Ohio markets. Sovran will operate the properties under the Uncle Bob's Self ...More
    December 16, 2008 Posted in News, Real Estate
  • Self-Storage Suffers the Least Loss Among REIT Sectors
    Though the real estate investment trust (REIT) market is poised for big losses in 2008, the self-storage sector has performed the best, having dropped only 14.59 percent over last year. ...More
    December 15, 2008 Posted in News, Real Estate
  • Harrison Street Buys 19 Facilities for $100 Million
    Harrison Street Real Estate Capital LLC purchased 19 self-storage facilities totaling more than 1.4 million square feet for $100 million. The properties, managed by Orlando-based Simply Self Storage, were acquired from a private lending institution. The sites are in ...More
    December 15, 2008 Posted in News, Real Estate
  • Morningstar Acquires Village Self Storage for $7.8 Million
    Morningstar Properties, in its joint venture with Harrison Street Real Estate Capital, acquired Village Self Storage, a 78,210-square-foot storage center in Carrboro, N.C., for $7.8 million. For more information, visit ...More
    December 12, 2008 Posted in News, Real Estate
  • Cornerstone Realty Brokers Deal for $1.9 Million
    Mark D. Keys of Cornerstone Realty Inc. represented the seller of A Space Place Self Storage, a 40,590-square-foot self-storage facility in Huntsville, Texas. The 221-unit facility sold for $1.9 million at an 8 percent cap rate. For more information, ...More
    December 11, 2008 Posted in News, Real Estate
  • CB Richard Ellis Represents Buyer in Acquisition
    Michael Howard  and Steve Hryszko of CB Richard Ellis Self Storage Advisory Group's Northeast Region, represented Storage Zone in the acquisition of State 8 Mini Storage in Cuyahoga Falls, Ohio, for $1.3 million. The 28,700-square-foot facility has 180 units. For more ...More
    December 10, 2008 Posted in News, Real Estate
  • AAAA Self Storage Adds to Management Portfolio
    AAAA Self Storage Management Group added a 48,240 net rentable square foot facility to its management portfolio. The property, in Newport News, Va., was purchased by an investment partnership based in Virginia Beach. Stuart Wade negotiated the transaction between the ...More
    December 9, 2008 Posted in News, Real Estate
  • Westar Represents Seller of Triple S Self Storage
    Barry Comiskey and John Owens of Westar Commercial Realty represented the seller of Triple S Self Storage in Lubbock, Texas. The 40,600-square-foot facility was a redevelopment project situated on 5.8 acres. Comiskey and Owens are Argus Self Storage Sales Network broker ...More
    December 8, 2008 Posted in News, Real Estate
  • Self Storage Group Names VP
    James Vanco joined CB Richard Ellis' Self Storage Advisory Group as vice president, concentrating on seller/buyer investment representation of self-storage facilities nationwide. Vanco brings more than 29 years of experience in commercial real estate to the position, along ...More
    December 8, 2008 Posted in News, Finance, Real Estate
  • Marcus & Millichap Broker Facility Sales in Illinois
    Sean Delaney and Jesse Luke of Marcus & Millichap Real Estate Investment Services represented Herman & Kittle Properties in the purchase of two A American Self Storage facilities in Illinois. The first, a 38,325 square foot self-storage facility in New Lenox, was ...More
    December 5, 2008 Posted in News, Real Estate