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.
14-Property Self-Storage Portfolio Sold to Public Storage, Metro Self Storage
A 14-property self-storage portfolio, totaling approximately 8,923 units and 830,000 square feet of rentable space, was recently sold to two separate self-storage companies for an undisclosed sum. ...More
Virtus Real Estate Investing in Self-Storage
Virtus Real Estate, a private equity firm based in Austin, Texas, is raising funds to invest in self-storage properties. ...More
Storage Express Opens New Facility in Memphis, Ind.
Storage Express has completed construction of a new 29,000-square-foot self-storage facility in Memphis, Ind., a small community about 15 minutes outside Louisville, Ky. ...More
Self-Storage Real Estate: 2010 in Review and a Look at What Lies Ahead
Looking back over 2010, there’s no doubt self-storage real estate transaction volume improved significantly compared to 2009. As we approach the end of 2010, we’re seeing improvements in the financing market and, most important, we’re confirming self-storage is no doubt one ...More
Rein & Grossoehme Negotiates Sale of Two Tucson Self-Storage Properties
Bill Alter of Rein & Grossoehme Commercial Real Estate negotiated the sale of two Tucson, Ariz., self-storage properties for $1.1 million. ...More
The U-Haul Company of Alabama Buys Self-Storage Facility
The U-Haul Company of Alabama is expanding its network of self-storage locations with the purchase of an existing Alabama storage facility in Fultondale, Ala. ...More
Caster Properties Acquires Garfield Avenue Self Storage in Bell Gardens, Calif.
Caster Properties Inc., operator of the A-1 Self Storage chain of facilities in California, acquired Garfield Avenue Self Storage in Bell Gardens, Calif. ...More
CITYSpace on Main Self-Storage Opens in Louisville, Holds Grand Opening
CITYSpace on Main, a new self-storage facility in Louisville, Ky., will open on Friday night with a grand opening from 4 to 7 p.m. including entertainment, food and door prizes. ...More
Owners of Spring Garden Self Storage Surrender Facility's Deed to Bank
Apex-ME Inc., an arm of TD Bank, has taken over the deed to Spring Garden Self Storage in DeLand, Fla., from its owners, three local business people. Apex is foregoing any foreclosure action and eliminating the owners’ $2.6 million debt, according to court records. ...More
Self-Storage Investments Gain Interest in Australia's Gold Coast
Self-storage has gained the interest of investors such as merchant banks, property trusts and property syndicates in Gold Coast, Queensland, Australia, according to LandMark White, an independent property valuation and consultancy firm. ...More