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.
Space Plus of Boynton Beach Faces Possible Foreclosure
Space Plus self-storage of Boynton Beach, Fla., could be foreclosed on and seized by a commercial mortgage-backed securities (CMBS) fund. ...More
Marcus & Millichap CEO Discusses Real Estate Improvement on 'Fox Business'
Harvey E. Green, president and CEO of Marcus & Millichap Real Estate Investment Services, was featured on "Fox Business" on April 30, discussing signs of improvement in commercial real estate fundamentals and real estate sales activity. ...More
Rein & Grossoehme Sells Two Phoenix-Area Self-Storage Properties
Bill Alter, of Rein & Grossoehme Commercial Real Estate, negotiated the sale of two Lock-it-Lockers self-storage properties in Arizona for a combined price of $3.5 million. ...More
Buying or Selling Self-Storage Property: Should You Hire a Broker?
It’s important to understand the role of the broker before you hire one. If a self-storage facility is priced properly and a good marketing plan is executed, the property will sell in a reasonable amount of time and the client’s objectives will be met. ...More
Strategic Storage Trust Buys Two Self-Storage Facilities in Phoenix Market
Strategic Storage Trust Inc., a publicly-registered non-traded real estate investment trust targeting the self-storage market, acquired two self-storage facilities in Tempe and Phoenix, Ariz., in an all-cash transaction. ...More
U-Store-It Trust Releases 1Q 2010 Operating Results
U-Store-It Trust, a self-storage real estate investment trust, released its operating results for the three months ended March 31, 2010. ...More
Sovran Self Storage Releases First-Quarter 2010 Operating Results
Sovran Self Storage Inc., a self-storage real estate investment trust, reported operating results for the quarter ended March 31, 2010. ...More
Opening of Chester Heights Self-Storage in PA Delayed Again
Chester Heights Self-Storage Center in Chester Heights, Pa., is facing more hurdles, once again delaying the facility’s grand opening. ...More
IREM Adds Bear and Hershey Self-Storage Facilities to Management Portfolio
York, Pa.-based Investment Real Estate Management (IREM) has added two more facilities to its portfolio of managed self-storage properties: Storage Atlantic in Bear, Del., and West Chocolate Ave. Self Storage in Hershey, Pa. ...More
Manhattan Self-Storage Owner Continues to Battle Case of Eminent Domain
The case of a self-storage owner battling Columbia University over a proposed expansion continues June 1. The Empire State Development Corp., the state body that approved eminent domain for the project last December, formally appealed the decision in January and will ...More