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.
WA Self-Storage Owner Killed in Car Crash
A Brinnon, Wash., self-storage owner was killed and his wife was injured in a one-car crash at about 5:46 a.m. PST Sunday near the town of Hamma Hamma. ...More
Virtus Real Estate Buys 2 Memphis Self-Storage Facilities
Virtus Real Estate has acquired two more Memphis-area self-storage facilities for an undisclosed amount, totaling 847 units and more than 109,000 rentable square feet. ...More
Idaho Lawmakers Unhappy With Self-Storage Purchase, Introduce Legislation
Some lawmakers in Idaho are unhappy with the state’s purchase of a self-storage facility last summer, and aim to pass legislation to end similar transactions. ...More
Miracle Self Storage in Georgia Sells for $2M
Miracle Self Storage in Canton, Ga., sold for $2 million in an all-cash deal to a real estate investment trust. The seller was a financial institution. ...More
Marcus & Millichap Brokers Sell Extra Space Storage Facility in Redlands, Calif.
Charles “Chico” LeClaire and Nicholas Walker of Marcus & Millichap Real Estate Investment Services recently brokered the sale of an Extra Space Storage facility in Redlands, Calif. ...More
Hampshire Cos. to Open New Self-Storage Facility in Hackensack, N.J.
Real estate firm The Hampshire Cos. is preparing to open a new 81,300-square-foot, 600-unit self-storage facility in Hackensack, N.J. ...More
Equity International Invests in Brazilian Self-Storage Company
Equity International, the privately held investor and builder of companies outside of the United States, closed on a $58 million investment in GuardeAqui, a privately owned self-storage company in São Paulo, Brazil. Equity International now has six portfolio companies in ...More
U-Haul Acquires Self-Storage Facility in Atlanta Exurb
The U-Haul Company of Northern Georgia has purchased an existing self-storage facility covering more than 53,000 square feet in Canton, Ga., an exurb 40 miles north of Atlanta. ...More
Strategic Storage Trust Acquires 80 Percent of $37.6M Self-Storage Portfolio
Strategic Storage Trust Inc., a publicly registered non-traded real estate investment trust focusing on self-storage, recently acquired more than an 80 percent interest in a 10-property portfolio worth nearly $37.6 million. ...More
Storage Express Acquires Central Indiana Self-Storage Property
Storage Express has acquired a former Simply Self Storage in Noblesville, Ind., which is about 20 miles northeast of Indianapolis. ...More