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.
Chandler Properties Purchases Self-Storage Facility in Cleveland, Tenn.
Chandler Properties recently purchased a self-storage/commercial warehouse in Cleveland, Tenn. Chandler Storage, 1853 Westland Drive, has 34 self-storage units, but there’s ample room to expand the facility up to 102 units. ...More
Granada Self Storage and Carwash in Austin, Texas, Sold
Granada Self Storage and Carwash in Austin, Texas, sold to A-A-A Storage Stassney LLC. The buyer is planning to reconfigure and add storage units to the property. The purchase was financed by Amplify Credit Union. ...More
9 A-American Self-Storage Facilities Sold for $31M
The final nine self-storage facilities of A-American Self-Storage’s large portfolio sold this month for $31 million. The portfolio, totaling 42 facilities in California, Hawaii and Illinois, was acquired over several months for a total of $163 million. ...More
Extra Space Storage Buys NJ Self-Storage Facility for $18M
Extra Space Storage Inc., a self-storage real estate investment trust, purchased a self-storage facility in North Bergen, N.J., for $18.35 million, or about $196 per square foot. Extra Space Storage had been managing the property for North Bergen Mini Storage LLC at the ...More
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