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.
N.Y. Self-Storage Owner Loses Land in Eminent Domain Case
After months of court battles and appeals, a Manhattan self-storage owner has lost his fight in a New York eminent domain case. ...More
Insight for the First-Time Self-Storage Developer: What You Need to Know About Feasibility, Financing, Construction and More
Self-storage can be quite rewarding for the investor who does his homework and understands the business. Here are a few items every first-time developer should consider. ...More
Third Fund of Harrison Real Estate Capital to Buy $1.8 Billion in Assets
Private equity firm Harrison Street Real Estate Capital LLC, which invests in assets including self-storage, off-campus student housing, senior housing and medical office buildings, completed the first closing on its third fund, which it will use to buy about $1.8 billion ...More
New Korpacz Survey Highlights the Movement of Self-Storage Cap Rates
PricewaterhouseCoopers has released the Korpacz Real Estate Investor Survey for the first half of 2010, containing an article titled, "Domestic Self-Storage Market: A Return to 7.25% Overall Cap Rates?" ...More
Chester Heights Self-Storage in PA Closer to Opening
The Chester Heights Borough Council in Chester Heights, Pa., authorized the issuance of a temporary certificate of occupancy for Chester Heights Self-Storage. ...More
Trustee Sale Set for June 22 for Sonoma Storage Emporium in California
Sonoma Storage Emporium in Sonoma County, Calif., which specializes in wine storage, will be up for sale in June to satisfy an $11.1 million loan to Sonoma Valley Bank. ...More
Stor-It-Now Opens in Valparaiso, Ind.
Two commercial developers in Valparaiso, Ind., recently opened Stor-It-Now!, a self-storage facility with 660 units and 75,000 square feet. ...More
IREM Sells Third-Party Contracts, New Self-Storage Management Company Formed
Storage Asset Management Inc. (SAM), a new self-storage property-management and consulting company, was launched in May when its managing partners, Jay Hoke and Alyssa Quill, purchased 27 third-party management contracts from Investment Real Estate Management LLC (IREM). ...More
Council Approves Self-Storage Development in San Mateo, Calif.
The city council in San Mateo, Calif., Monday approved the redevelopment of a 3.5-acre site that will include housing and a three-story self-storage facility. ...More
Self-Storage Leads Gains for REIT Industry So Far in 2010
Self-storage was among the sectors that led gains for the REIT (real estate investment trust) industry during the first five months of the year, according to the June 2010 MediaUpdate released by the National Association of Real Estate Investment Trusts (NAREIT). ...More