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.

Self-Storage Developer Flagship Investment Group Names New Senior VP of Acquisitions

Flagship Investment Group LLC, a private real estate investment company focused on self-storage and other ventures, named Steve Hryszko as senior vice president, acquisitions. Hryszko will lead the company’s national acquisition activity in self-storage. ...More
March 8, 2012
Posted in News, Development, Real Estate
Storage Express Acquires Indianapolis Self-Storage Facility, Plans Upgrades

Self-storage operator Storage Express has acquired a 60,000-square-foot facility in Indianapolis from Simply Self Storage. The facility, which has more than 500 units, is on the northeast side of the city, near the intersection of Interstate 465 and Pendleton Pike. ...More
March 8, 2012
Posted in News, Real Estate
Marina U-Store in California Sold for $3.2M

Marina U-Store in Marina, Calif., was sold to a private investor for $3.2 million. The facility, 475 Reservation Road, was constructed in 1978. The facility is on about a half-acre of land in Monterey County. The 31,988-square-foot building offers a variety of drive-up ...More
March 8, 2012
Posted in News, Real Estate
A Pocket Guide to the Self-Storage Real Estate Closing Process

Closing escrow is the final step in purchasing a self-storage property. The process can go smoothly if you take a few precautions. This article provides a “pocket guide” to the process, summarizing the major steps and procedures involved in closing a real estate ...More
March 8, 2012 By Stephen Grossman
Posted in Articles, Real Estate
Memphis Self-Storage Site Sells for $3.7M

Texas-based TP Getwell Self Storage Ltd. has bought two self-storage facilities at 2700 Getwell Road and 2706 Getwell Road in Memphis from Getwell Self Storage LLC for $3.7 million. The buyer financed the purchase with a $2.8 million trust deed through Texas Capital Bank ...More
March 5, 2012
Posted in News, Real Estate
Self-Storage Planned in Upscale Mixed-Use Area in Loveland, Colo.

Self Storage @ Centerra, a $5 million, 780-unit self-storage project deemed "upscale" by its developers, is slated for construction at the Centerra mixed-use retail, office and residential complex in Loveland, Colo. The recent $1.4 million sale of 8 acres at E. 37th Street ...More
March 5, 2012
Posted in News, Construction, Development, Real Estate
Amsdell Cos. Acquires Florida Self-Storage Facility

The Amsdell family of companies acquired a self-storage facility in Oviedo, Fla. The facility, 2435 W. State Road 426, has more than 65,800 net rentable square feet. The storage center offers climate-controlled units, drive-up access and parking spaces. It also has truck ...More
March 5, 2012
Posted in News, Real Estate
Self-Storage REITs Release 2011 Fourth-Quarter and Year-End Operating Results

The four publicly traded self-storage real estate investment trusts (REITs) released their fourth-quarter and overall operating results for 2011. CubeSmart, Extra Space Storage Inc., Sovran Self Storage Inc. and Public Storage Inc. all showed strong revenue growth. Also, ...More
March 2, 2012
Posted in News, Real Estate
Appealing Self-Storage Property Taxes: Reducing Facility Expenses and Increasing Profit

Self-storage property-tax valuations and expenses have been consistently rising over the years, but few owners have questioned their facility’s appointed value. Now’s the time for self-storage operators to challenge their property-tax valuation, reduce their bill and raise ...More
February 27, 2012
Posted in Articles, Management, Real Estate
Factors to Determining Self-Storage Investment Quality: Questions to Ask Your Seller and Broker

This article discusses factors that go into determining the “quality” of a particular self-storage investment as it compares to other (apparently) similar investments. The astute self-storage investor is aware of these subtle influences on value and understands how each ...More
February 25, 2012
Posted in Articles, Real Estate

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