The Inside Self-Storage (ISS) Store, an e-commerce website providing research and education products for industry professionals, has partnered with real estate firm Colliers International Valuation and Advisory Services LLC to provide a series of custom data reports for the self-storage industry. The first reports on offer will be the “Self-Storage Custom Expense Report,” which provides analysis on operational expenses in specific markets and against national metrics, and the “Self-Storage Custom Cap-Rate Report,” which addresses applicable capitalization (cap) rates for specific properties and regions based on the Colliers Rating System. The reports are expected to be available for purchase within the next few weeks.
“Adding Colliers International as a partner is an exciting development for ISS; but more important, the company’s real estate prowess and understanding of the global self-storage market will prove to be a valuable asset to the industry,” said Troy Bix, vice president of ISS. “Through these custom reports, ISS Store customers will be able to glean detailed information about properties and geographic markets of interest. It’s a home run for current self-storage operators, developers and investors.”
The “Self-Storage Custom Expense Report” will be produced on demand based on a specific U.S. address. Colliers will use property information provided by the customer to research and analyze the typical expenses of comparable self-storage facilities in that market. The report will offer a comparison against national data as well as expenses from actual facilities within the region. Expenses are broken into nine categories including advertising, general and administrative, repairs and maintenance, offsite and onsite management, property insurance, real estate taxes, utilities, and reserves.
The “Self-Storage Custom Cap-Rate Report” will also be produced on demand based on a specific U.S. address supplied by the customer. Colliers will analyze comparable self-storage assets in the region as well as applicable cap rates based on the company’s own rating system, which uses eight performance and property metrics to rate a facility as class A, B or C. The report includes a table reflecting an appropriate cap-rate range for the subject property as well as sections on comparable sales, investor surveys, a band of investment analysis, and a summary of findings.
Both reports are expected to run eight to nine pages in length. Customers will order directly from insideselfstoragestore.com. Due to the customization involved, buyers should allow up to three business days for fulfillment. Finished reports will be delivered in PDF format to customers via e-mail.
Colliers International Valuation and Advisory Services is a division of Colliers International Group Inc., a global commercial real estate services firm employing more than 16,000 professionals across 554 offices in 66 countries. The company offers a variety of services for investors, business owners and developers. These include consulting, market research, real estate intermediation for sale and rent, mortgage lending assistance, project management, property management, and valuation.
Conceived as a central hub that allows self-storage owners, operators, developers and investors to obtain cutting-edge information and resources, the ISS Store is owned and operated by ISS, a dynamic services provider that has served the self-storage industry for more than 25 years. The brand includes ISS magazine, the ISS Expo and Self-Storage Talk, the industry’s largest online community.