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.
Idaho Lawmakers Unhappy With Self-Storage Purchase, Introduce Legislation
Some lawmakers in Idaho are unhappy with the state’s purchase of a self-storage facility last summer, and aim to pass legislation to end similar transactions. ...More
Miracle Self Storage in Georgia Sells for $2M
Miracle Self Storage in Canton, Ga., sold for $2 million in an all-cash deal to a real estate investment trust. The seller was a financial institution. ...More
Marcus & Millichap Brokers Sell Extra Space Storage Facility in Redlands, Calif.
Charles “Chico” LeClaire and Nicholas Walker of Marcus & Millichap Real Estate Investment Services recently brokered the sale of an Extra Space Storage facility in Redlands, Calif. ...More
Hampshire Cos. to Open New Self-Storage Facility in Hackensack, N.J.
Real estate firm The Hampshire Cos. is preparing to open a new 81,300-square-foot, 600-unit self-storage facility in Hackensack, N.J. ...More
Equity International Invests in Brazilian Self-Storage Company
Equity International, the privately held investor and builder of companies outside of the United States, closed on a $58 million investment in GuardeAqui, a privately owned self-storage company in São Paulo, Brazil. Equity International now has six portfolio companies in ...More
U-Haul Acquires Self-Storage Facility in Atlanta Exurb
The U-Haul Company of Northern Georgia has purchased an existing self-storage facility covering more than 53,000 square feet in Canton, Ga., an exurb 40 miles north of Atlanta. ...More
Strategic Storage Trust Acquires 80 Percent of $37.6M Self-Storage Portfolio
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust focusing on self-storage, recently acquired more than an 80 percent interest in a 10-property portfolio worth nearly $37.6 million. ...More
Storage Express Acquires Central Indiana Self-Storage Property
Storage Express has acquired a former Simply Self Storage in Noblesville, Ind., which is about 20 miles northeast of Indianapolis. ...More
Athena Real Estate Hires New VP of Business Development
Athena Real Estate has hired Matthew Allen as a vice president, business development. Allen faces the task of growing Athena's investment portfolio and institutional advisory business, generally through asset and property management services. ...More
Strategic Storage Trust Buys Shares From Self-Storage Partners
Strategic Storage Trust Inc. has purchased a large share of interests in USA Self Storage I, DST, a trust sponsored by Strategic’s sponsor. ...More