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.
Chester Heights Self-Storage in PA Closer to Opening
The Chester Heights Borough Council in Chester Heights, Pa., authorized the issuance of a temporary certificate of occupancy for Chester Heights Self-Storage. ...More
Trustee Sale Set for June 22 for Sonoma Storage Emporium in California
Sonoma Storage Emporium in Sonoma County, Calif., which specializes in wine storage, will be up for sale in June to satisfy an $11.1 million loan to Sonoma Valley Bank. ...More
Stor-It-Now Opens in Valparaiso, Ind.
Two commercial developers in Valparaiso, Ind., recently opened Stor-It-Now!, a self-storage facility with 660 units and 75,000 square feet. ...More
IREM Sells Third-Party Contracts, New Self-Storage Management Company Formed
Storage Asset Management Inc. (SAM), a new self-storage property-management and consulting company, was launched in May when its managing partners, Jay Hoke and Alyssa Quill, purchased 27 third-party management contracts from Investment Real Estate Management LLC (IREM). ...More
Council Approves Self-Storage Development in San Mateo, Calif.
The city council in San Mateo, Calif., Monday approved the redevelopment of a 3.5-acre site that will include housing and a three-story self-storage facility. ...More
Self-Storage Leads Gains for REIT Industry So Far in 2010
Self-storage was among the sectors that led gains for the REIT (real estate investment trust) industry during the first five months of the year, according to the June 2010 MediaUpdate released by the National Association of Real Estate Investment Trusts (NAREIT). ...More
Out-Back Self Storage of Dunnellon, Fla., Sells for $1.15M
Brokers from Marcus & Millichap Real Estate Investment Services completed the sale of Out-Back Self Storage, a 24,750-square foot self-storage facility in Dunnellon, Fla., for $1.15 million. ...More
Argus Self Storage Affiliates Sell Facilities in Nixa, Mo., and Sandwich, Ill.
Broker affiliates of the Argus Self Storage Sales Network facilitated the sales of All Store Self Storage in Nixa, Mo., and Store-All Storage in Sandwich, Ill. ...More
Papermill Self Storage in Tennessee Sells for $2M
Papermill Self Storage, a 55,067-square foot self-storage facility in Knoxville, Tenn., sold for just over $2 million. ...More
U-Haul of Western Florida Expands Operations With Self-Storage Purchase
The U-Haul Company of Western Florida has expanded its network of self-storage locations with its purchase of North Port Self Storage in North Port, Fla. ...More