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.
Extra Space Storage in Lady Lake, Fla., Celebrates Grand Opening
The new Extra Space Storage in Lady Lake, Fla., is celebrating its grand opening Nov. 16, with free food, tours and giveaways. ...More
Store It! @ Groves Purchases Texas Self-Storage Facility
Store It! @ Groves purchased a self-storage facility in Groves, Texas, from Gulfway Storage LLC. The facility, 6701 Gulfway Drive, includes 67,013 square foot and 575 climate-controlled units. The building was converted to self-storage in 2004. The property was roughly 68 ...More
Extra Space Storage Affiliate Finances Cordova, Tenn., Self-Storage Facility
Salt Lake City-based Extra Space Properties Thirty LLC, an affiliate of Extra Space Storage Inc., has filed a $2.8 million loan through Bank of America NA for a storage facility at 7954 Patriot Cove in Cordova, Tenn. ...More
A-1 Self Storage Opens New Facility in Mira Mesa, Calif.
California self-storage operator A-1 Self Storage opened a new facility in Mira Mesa, Calif., a suburb of San Diego. ...More
HFF Completes $122.75M in Self-Storage Sales in September and October
HFF (Holliday Fenoglio Fowler LP) completed sales of 28 self-storage properties totaling approximately $122.75 million in the past 60 days. The properties were closed in eight unrelated transactions and are located throughout the United States. ...More
The Self Storage Company Opens in the United Kingdom
Community members in Waltham Abbey, United Kingdom, hope the opening of the Self Storage Company will spur employment in the area. ...More
Brokers for the Argus Self Storage Sales Network Close 3 Sales in October
Affiliates of the Argus Self Storage Network, which has 36 broker affiliates in nearly 40 markets, brokered three self-storage sales in October. ...More
Talonvest Capital Negotiates $12.4M in Self-Storage Loans for 3 Facilities
Talonvest Capital Inc., a boutique real estate adviser serving clients throughout the United States, successfully negotiated and closed $12.4 million in fixed- and floating-rate, non–recourse loans secured by self-storage properties in Southern California, Chicago and ...More
Past-Due Rent in Self-Storage and Its Effect on Facility Sales: Who Keeps It? Buyer or Seller?
Consummating a self-storage real estate deal is tough. Besides agreeing on the most salient transaction terms such as price, earnest money and financing, there are less prominent details to sort out, such as the issue of past-due rent. Here are a few approaches to resolving ...More
Casino Self Storage in CA Sold for $10.5M to Public Storage
Casino Self Storage in Moorpark, Calif., sold to Public Storage, a self-storage real estate investment trust, for $10.5 million. The facility will be rebranded Public Storage. ...More