Inside Self-Storage

Real Estate

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.

Infinite Self Storage Obtains $9.9M Construction Loan

Oak Brook, Ill.-based Leaders Bank has extended a $9.91 million acquisition/construction loan for the Infinite Self Storage facilities in Bolingbrook. The loan was arranged by Chris Cernek, Jason Welch and Hugh Franklin on behalf of the borrow, an entity related to ...More
February 3, 2009
Posted in News, Real Estate
Richard D. Minker Co. Changes Name and Company President

The Richard D. Minker Co., a real estate brokerage firm based in Fort Worth, Texas, has changed its name to MINKERTrahant & Associates to reflect changes at the company. ...More
February 2, 2009
Posted in News, Real Estate
The State of Self-Storage: Industry Report 2009

While the self-storage industry has always been touted as recession-proof or, at the very least, recession-resistant, it was put to the test in 2008. New construction and self-storage real estate slowed, but occupancy levels for most facilities remained solid. ...More
February 1, 2009 Amy Campbell
Posted in Articles, Construction, Finance, Real Estate
Selling Self-Storage in a Soft Real Estate Market

In these difficult times, many self-storage owners are giving some thought to selling their property rather than waiting out the market. To achieve a successful sale, they must know how to price their facility as well as how to market it. ...More
January 29, 2009 Michael L. McCune
Posted in Articles, Real Estate
Bailey Raleigh Self Storage Acquires Security U-Store for $3.95M

Bailey Raleigh Self Storage LP acquired the 47,827-square-foot Security U-Store self-storage complex in El Cajon, Calif., for $3.95 million, or $82 per square foot. Built in 1972, the eight-building facility is on more than 3 acres. ...More
January 26, 2009
Posted in News, Real Estate
How Will Self-Storage Owners Survive the Credit Crisis?

Borrowing will be more difficult for everyone in 2009, including self-storage developers, who will have to work extraordinarily hard to obtain commercial real estate financing. The good news is interest rates are still reasonable and some banks are still making loans on ...More
January 25, 2009 Neal Gussis
Posted in Articles, Development, Finance, Real Estate
Clayton Road Mini Storage Sells Land, Facility for $6.38M

Clayton Road Mini Storage sold land and a 488-unit self-storage facility in Concord, Calif., to New TKG Storagemart Partners for nearly $6.38 million. Constructed in 1985, the property consists of 58,501 square feet of storage in three two-story buildings. ...More
January 23, 2009
Posted in News, Real Estate
Goals for 2009: Competitive Sales, Facility Remodeling and More

Self-storage managers should maximize all competitive advantages possible to close a sale. Some advantages cost nothing but can mean a lot to potential tenants, such as not charging security deposits and offering rent guarantees. ...More
January 23, 2009 Jim Chiswell
Posted in Articles, Marketing, Real Estate
Sea Watch Realty Brokers $1.1M Self-Storage Sale

Sea Watch Realty in New Bedford, Mass., brokered the sale of Pleasant Street Self Storage in West Bridgewater to North Shore Capital Partners LLC. The 302-unit facility, located adjacent to Route 24, sold for $1.1 million. The storage facility was sold by Augusta Realty Co. ...More
January 21, 2009
Posted in News, Real Estate
Perfect Self Storage Opens in West Chester, Pa.

Perfect Self Storage opened a four-building facility along the well-traveled Paoli Pike in West Chester, Pa. Using a geo-thermal system for temperature regulation, the facility offers 312 climate-controlled and non-climate-controlled units in more than 33,000 net rentable ...More
January 20, 2009
Posted in News, Real Estate

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