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 Development Proposed for Vacant Lot in Vista, N.Y.
A proposed self-storage development in Vista, N.Y., was nearly rejected in January by the city’s planning department because of ambiguity about the town’s codes. ...More
Jeffrey Rogatz Elected to U-Store-It Trust Board of Trustees
Jeffrey Rogatz had been elected to the board of trustees for U-Store-It Trust effective Jan. 31. He is expected to stand for re-election at the June shareholders meeting, when his current term of office expires. Daniel Hurwitz has resigned from the board as of Jan. 31. ...More
Safeguard Self Storage Opens Facility in Jamaica, N.Y.
Safeguard Self Storage, a provider of self-storage solutions, recently opened its 17th facility in the New York self-storage market. ...More
Cincinnati Toys R Us to Be Converted to Self-Storage by Imbus
A building that houses a Toys R Us store in Cincinnati will be converted into Glenway Storage, a 600-unit self-storage facility, by John Imbus, general partner of Imbus Enterprises Limited Partnership. ...More
PS Canada Company ULC Purchases Self-Storage Portfolio
PS Canada Company ULC will acquire a four-property self-storage portfolio and business from APEX Self Storage Ltd. and its affiliates. ...More
Oklahoma Self-Storage Property Sales Have Struggled; Improvement Expected
Oklahoma self-storage property sales lagged in 2009 and 2010 because tight financing thwarted investors and steadily rising occupancy and revenue levels kept owners from selling. But better credit forecasts for the next two years could lead to more sales. ...More
Self-Storage Developers in Iowa One Approval Vote Away From Fire-Code Amendment
The city council in Urbandale, Iowa, is just one vote away from changing the city’s self-storage fire-sprinkler code. ...More
Hannay Investment Properties Awarded Management Contracts of Three Arizona Self-Storage Facilities
Hannay Investment Properties recently took over the operation of three self-storage properties in Arizona, one as the court-appointed receiver and two for a lender. ...More
Argus Affiliates Broker Self-Storage Sales in Colorado, Kansas, Missouri
Broker affiliates of the Argus Self Storage Sales Network recently brokered the sale of self-storage facilities in Colorado, Kansas and Missouri. ...More
Self-Storage Veteran Pete Williams Joins Grubb & Ellis Memphis
Pete Williams, a 21-year veteran of the self-storage industry and former founder and CEO of Premier Storage Solutions, has joined commercial real estate firm Grubb & Ellis Memphis as executive vice president, investment group. ...More