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.
Big Yellow Reports Shares Drop, Store Revenue Up
James Gibson, CEO for British operator Big Yellow Self Storage, revealed this week the company's share prices have dropped 3 percent, and he doesn't expect a recovery until the economy and real estate market show notable improvement. ...More
Extra Space Hosts Grand Opening for Self-Storage Facility in Carson, Calif.
The new Extra Space Storage self-storage facility in Carson, Calif., is celebrating its grand opening on June 9 from 5 p.m. to 7 p.m. ...More
Sierra Self Storage in Madera, Calif., Sold for $950K
Sierra Self Storage in Madera, Calif., recently sold for $950,000 to private investors. The property will be re-branded Madera Self Storage. ...More
Sentry Stor-All in Ohio Sold to Limited-Liability Company for $1M
Sentry Stor-All in Barberton, Ohio, sold to a limited-liability company for $1,095,000. The 65,000-square-foot self-storage facility, located at 3001 Barber Road, was built in 1978. The facility has 418 self-storage units and was approximately 68 percent occupied at the ...More
Austria's Immofinanz Sells Stake in Business to MyPlace Self Storage
Austria’s Imbea Immoeast Beteiligungsverwaltung GmbH, a subsidiary of Immofinanz AG, sold 30 percent of its stake in SelfStorage-Dein Lager Lagervermietungs GmbH to self-storage operator MyPlace Self Storage Holding GmbH for €34 million. The sell is expected to close by the ...More
Strategic Storage Trust Buys 11 Self-Storage Facilities in 5 States
Strategic Storage Trust Inc. has entered into agreements to buy 11 self-storage facilities in five states: Georgia, New Jersey, New York, Pennsylvania and Virginia. The company expects to close each of these acquisitions before the end of the second or third quarter of ...More
New U-Haul Self-Storage Facility Proposed for Madison, Wis.
A new U-Haul self-storage facility has been proposed for a former Cub Foods site at 4716 Verona Road in Madison, Wis., which has been vacant since early 2009. ...More
House It Storage in Texas Sold to Affiliate of Jenkins Organization
House It Storage in Richmond, Texas sold May 6 for an undisclosed price to an affiliate of the Jenkins Organization, a self-storage developer and management company. ...More
Planning Commission in PA Considers Rezoning Request for Self-Storage Development
The planning commission in Lawrence, Pa., is considering rezoning a parcel of land to accommodate a self-storage development. The area, 2331 Daisy St. Ext., is currently zoned commercial highway. The request is being made by the Davis family. ...More
ACL Self Storage in Elgin, Ill., Sold for Undisclosed Price
ACL Self Storage in Elgin, Ill., sold May 4 for an undisclosed price. The 36,080-square-foot facility has 363 storage units. It was developed in the mid-1970s. ...More