Inside Self-Storage

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.

New Mexico Self Storage Acquires Facility in Santa Fe

New Mexico Self Storage, which operates under the brand A-1 Self Storage in New Mexico, recently acquired another facility in Santa Fe. ...More
August 6, 2012
Posted in News, Real Estate
Big Jim Self Storage of Bradenton, Fla., Sells for $6M

Big Jim Self Storage in Bradenton, Fla., was recently sold from Big Jim III LLC of Sarasota, Fla., to Storage Quest LLC of Winter Garden, Fla., for approximately $6 million. Located at 6403 State Road 64 E., the 90,964-square-foot facility sits on approximately 6 acres of ...More
July 23, 2012
Posted in News, Real Estate
Storage Express Acquires Self-Storage Facility in Bedford, Ind.

Storage Express has acquired Keach & Grove Storage in Bedford, Ind., for an undisclosed amount. The 21,000-square-foot self-storage facility is near the center of town and is the storage operator’s second property in the area. ...More
July 20, 2012
Posted in News, Real Estate
Storage Pros Management Buys 7 Michigan Self-Storage Facilities for $19.5M

Storage Pros Management LLC has acquired seven self-storage facilities in Michigan for $19.5 million, increasing the number of Michigan properties under its management to 37. ...More
July 19, 2012
Posted in News, Finance, Real Estate
Amsdell Cos. Purchase 5 Self-Storage Facilities in Memphis, Tenn., Metro Area

Amsdell Storage Ventures VII LLC recently acquired five self-storage properties in the Memphis, Tenn., metro area. The facilities, which comprise more than 330,000 net rentable square feet and more than 2,600 units, will operate under the name Compass Self Storage LLC. ...More
July 19, 2012
Posted in News, Real Estate
Solano Storage Center of Fairfield, Calif., Purchased for $7.7M

Solano Storage Center, a 75,965-square-foot self-storage facility in Fairfield, Calif., sold on June 14 for $7.7 million. The buyer was a joint venture between Orange, Calif.-based RHW Capital Management Group LLC and Los Angeles-based Woodbridge Capital Partners LLC. The ...More
July 19, 2012
Posted in News, Real Estate
Virtus Real Estate Capital Acquires Self-Storage Facilities in Mississippi and Ohio

Virtus Real Estate Capital, an Austin, Texas-based private equity firm, recently purchased two self-storage facilities, one in Mississippi and the other in Ohio. Combined, the facilities offer 1,077 storage units. No financial terms were disclosed. ...More
July 16, 2012
Posted in News, Real Estate
Self-Storage Real Estate in the North-Central States: Rental Rates and Financing Improve

In most markets, self-storage continues to improve as financing has become more readily available to existing operators and those looking to invest in the industry. In this "roundtable discussion," the following real estate experts discuss capitalization rates, rental rates ...More
July 16, 2012 By Ben Vestal
Posted in Articles, Development, Finance, Real Estate
Public Storage Acquires Self-Storage Facility in Santa Clarita, CA

Public Storage, a self-storage real estate investment trust (REIT), has purchased Keep It Self Storage in Santa Clarita, Calif., for an undisclosed amount believed to be at least $13.5 million. The cash deal was part of a two-property transaction valued at more than $25 ...More
July 13, 2012
Posted in News, Real Estate
Extra Space Completes $298M Deal for 36 Self-Storage Properties

Extra Space Storage Inc., a self-storage real estate investment trust (REIT), has completed its deal with Prudential Real Estate Investors (PREI) to acquire PREI’s 94.9 percent interest in the companies’ joint venture, ESS PRISA III LLC. The $298 million deal includes 36 ...More
July 11, 2012
Posted in News, Finance, Real Estate

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