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Washington Self-Storage Facility Searched in Connection With Cop Shooting

Evergreen Self Storage of Parkland, Wash., was searched yesterday as police looked for a suspect in the fatal shooting of four officers. After the incident, the shooter was believed to be on foot and hiding somewhere in the neighborhood near the Forza Coffee shop where the officers were killed. Officers and the Pierce County bomb squad searched the facility’s parking lot yesterday afternoon but found nothing.
 
Yesterday morning at about 8:15 a.m., a man walked into the coffee shop and shot two seated officers. The third officer was shot when he rose to confront the criminal. The fourth struggled with the shooter out the door and managed to return fire before collapsing. The shooter is believed to be wounded and may even be dead.
 
The police identified a suspect, 37-year-old Maurice Clemmons, and engaged in an all-night standoff at a Seattle house last night, believing Clemmons to be inside. It was discovered this morning that the house is empty.
 
Sources: Seattle Times, Dispatches on the Lakewood police shooting, Vancouver Sun, Suspect in Washington shooting evades police

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Compete and Excel in a Challenging Self-Storage Market: ISS Expo Education

It’s a new year, and like everyone else, self-storage professionals are hoping to see the clouds of economic woe disperse and the sunlit rays of cash flow shine in. We’re all waiting for operational and financial rejuvenation, but in the meantime, how do we keep our businesses successful? If you own, operate or invest in self-storage, the answer lies in industry education.

At the Inside Self-Storage World Expo in Las Vegas, March 1-3, you can make a little bit of money go a long way toward renewing and improving your self-storage venture. The industry’s largest conference and tradeshow provides three full days of seminars, workshops, product/service exhibits and networking opportunities. The ISS Education Package is not only a tremendous value, it gives you access to 36 classes, taught by leading experts in the fields of self-storage management, marketing, legal issues, finance and much more.

Join us at the Paris Hotel & Resort in Las Vegas, and get the learning you need to compete and excel in a challenging self-storage market. Want to know more? Following is a sample of the seminars you will enjoy as part of our four-track education program. 

Register by Jan. 8, 2010, and save up to $300!

Track 1: Facility Marketing & Sales

The importance of self-storage marketing cannot be understated, and ISS has built a track that addresses traditional methods as well as the most cutting-edge developments in this field. You’ll learn about building a self-storage website and e-mail database, strategies for using social-media marketing, and ways to tailor your messages to different generations of customers.

Renowned industry trainer Brad North will present two complementary seminars that pack lots of punch. In “Cost-Effective Marketing Strategies for Self-Storage,” he’ll share more than 30 marketing and advertising ideas that will help you create a steady stream of referrals into your facility while increasing the profit of your operation. Then in “Igniting Self-Storage Profit Through Super Sales,” you’ll learn how to become more proactive in developing a sales approach that works. You’ll hear techniques for turning more callers and walk-in customers into renters, and get practical steps to overcome objections, out-compete your competition, and turn your differential advantages into income.

Get the industry's most comprehensive marketing information!

In his seminar titled “Maximizing Free Online Advertising Opportunities for Self-Storage,” David Wolf will help you identify free online listings and business profiles in search engines and Internet Yellow Pages portals such as Google, Yahoo, MSN, Yellowpages.com, Superpages.com and Dexknows.com. John Traver will teach you how to overcome your competition, sharing four secrets used by top companies. You’ll also get “Keys to Converting Leads to Rentals” from executives of USstoragesearch.com.

Read more about these and other marketing seminars at www.insideselfstorageworldexpo.com

Track 2: Day-to-Day Facility Management

In a market full of fierce competition, what you need are tried and true operational strategies that will help you streamline your business, trim expenses and maximize profit. Our management track is full of this essential know-how.

Begin with learning how to analyze and minimize your self-storage expenses with Mel Holsinger, president of Professional Self Storage Management. He’ll teach you how to set up a budget for a self-storage property, distinguish between fixed and variable costs, and minimize operating costs without sacrificing service or quality. You’ll discover how to create an ongoing strategy to improve your facility’s overall cash flow and increase its value.

Next, learn how to manage your rental rates, staff and costs to increase revenue. Husband-and-wife team Steve and Tammy Ross will help you examine your rental rates and competition to determine if you’re getting the most income from your property. They’ll look at different ways to staff a facility for success, and which operational expenses can be reduced.

If you’re a facility owner, John Roser of USA Storage Resource will help you figure out what makes your managers tick during “From Mediocre to Magnificent: The Making of a Motivated Manager.” He’ll teach you what it takes to re-energize a mediocre manager, and how to inspire a good manager to greatness. If you’re a facility manager, learn how to step up your role in the self-storage business, taking greater ownership of an operation, from Gina Six Kudo, general manager of Cochrane Road Self Storage in Morgan Hill, Calif. She’ll give you tips for working with ownership and taking your career to the next level.

In this track, you’ll learn other essential skills: how to reinvent an older self-storage business to compete with newer properties, comprehensive facility maintenance, how to choose and work with a third-party management company, tenant screening, crime prevention, dealing with the media, and more! 

Track 3: Construction, Development & Green Initiatives

Though industry development has slowed in the past year due to the challenges of financing, smart owners and developers are taking advantage of the slowdown in construction or priming themselves to build at the turn of the market. You can get the information you need to develop or buy a successful project in this inclusive track. In “Now Is the Time to Build Self-Storage,” Bruce McCardle of Mako Steel discusses the pros and cons of building in today’s economic climate.

Go GREEN with your self-storage business!

For those seeking the right self-storage location, industry expert Jim Chiswell guides you through the self-storage feasibility study, providing a checklist of the critical steps and decision points you’ll face in the process. If you’ve already chosen a site, Jamie Lindau of Trachte Building Systems will help you create the most effective site design and layout, one that will maximize your land and meet the market’s needs.

Looking for alternative ways to enter the business? Andrew Hyde will teach you how to make money with self-storage conversions. He’ll discuss how to find and evaluate potential facility locations, detailing the cost and construction process. He’ll give you the top five site-selection criteria for conversions and show you how to use them. You can also learn about self-storage acquisitions from Scott Meyers, who will share secrets about how to find great self-storage deals using little to no cash out of pocket.

Those of you who are green-minded will be pleased to see several seminars in this track pertaining to environmental sustainability. The team from iParkSolar and Baja Construction will present a two-part seminar on using solar energy in self-storage: how to do it, what it costs, system components and more. They’ll share detailed case studies from existing projects including potential revenue streams and return-on-investment analysis. In addition, Buster Owens of The Rabco Corp. will share information about Green Building Certification for self-storage builders, and Barry Keyes will teach you how to create on onsite recycling center at your facility. 

Track 4: Finance, Insurance & Legal Issues

The risk side of self-storage can be intimidating to many owners and developers. The ISS Expo is here to help with an education track that addresses the ins and outs of self-storage financing, the most pressing legal issues, and details about insurance coverage.

Neal Gussis, principal of The BSC Group, provides an overview of the capital markets and the challenges self-storage professionals face today. He’ll discuss how our industry is faring as an asset class, who is lending, and how to best position your business when seeking finance alternatives. In a separate session, he’ll participate in a panel on “Managing Your Financial Future,” where experts will teach you about current sale trends and strategies you can use to protect your investment.

If you’re looking to sell a self-storage property, an affiliate of the Argus Self Storage Sales Network will help you lay the groundwork for a smooth, successful transaction and avoid the pitfalls that leave so many buyers and sellers wondering why a deal didn’t work. But before you sell, know what your facility is worth. Self-storage valuation expert Charles Ray Wilson will provide you with data illustrating the performance trend of thousand of facilities nationwide as well as information you can take home to evaluate your own market conditions compared to national, regional and local trends. He’ll also provide you with an easy-to-use valuation tool.

Some of the most challenging aspects of running a self-storage facility are the legal pitfalls, the quagmires you can fall into when tenants get disgruntled or don’t pay, or you fail to follow state law to the letter. Don’t miss the legal sessions provided in this track. Legal expert Jeffrey Greenberger will teach you how to steer clear of trouble during self-storage lien sales. Scott Frank addresses the issue of tenant or corporate bankruptcy, providing answers to your most common questions.

If disaster should strike at your facility, make sure you and your tenants are covered. Not sure what you need? Our insurance experts will make it plain in seminars that address business liability, tenant insurance and more. You’ll learn risk-management techniques that will save you money, details about specialized self-storage coverage, options for tenants and more.

The education provided at the ISS Expo is affordable and unbeatable. Seize this chance to improve, protect, expand and market your business! Get going to Las Vegas and get the resources you need to succeed.

To view a complete expo agenda and read more about the event's educational lineup, including full seminar descriptions and speaker biographies, visit the website at www.insideselfstorageworldexpo.com.

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Knowing and Tracking Your Advertising: Easy Steps for Self-Storage Managers

As a self-storage manager, you wear many hats during the course of a work day. One of the most important tasks for which you are responsible is tracking your facility advertising. Although your owner or management company may have determined the advertising budget, a schedule for implementing programs and what specials to offer, it’s you who must make it all work.

For example, let’s say you manage a midsize facility in the middle of a large, metropolitan area. You have a lot of competition, including several public companies and many smaller stores.

Let’s assume there are numerous Yellow Pages directories in your community: perhaps a large citywide book, a regional one, several smaller books, and possibly specialized books such as a military directory. The cost of a large ad is probably way more than your owner is willing to spend, so he decides to place a small, in-column ad in the citywide book, a quarter-page ad in the regional book, and a half-page ad in the military book.

Now let’s assume you are diligent about asking customers where they heard about your facility. Perhaps you ask the question on your new-rental paperwork. A customer checks the “Yellow Pages” box on the list provided. That’s great, but at the end of the month when you review this data, you won’t know which of the three ads he saw. This is where ad tracking comes in. 
 
Tracking Your Ad Dollars

Why is ad tracking so important? Let’s assume your in-column ad costs $3,000 per year, the quarter-page ad costs $2,500 per year, and the military-directory ad costs $1,800 per year. Combined, that’s a lot of money. In this example, you have no way of knowing which ad was the most effective, or where you should be putting your ad dollars.

However, by changing our tracking methods, you’ll be able to easily determine which ad is the most effective and cost-efficient. If you use a customer form that asks how people heard about you, list all your advertising outlets—Yellow Pages, regional or special directories, website directories, etc. Each should be clearly identified on the form so customers can identify exactly where they heard about your facility.

Using our example, let’s see how the ad results look when we track them. Let’s say you received 25 rentals from the in-column ad, six from the quarter-page ad, and 15 from the military-directory ad. Your average customer rents for nine months, and the average rental rate is $75 per month. 

In this case, if you know two of the ads are successful in earning $5-plus back for each dollar spent, your owner will likely continue to purchase those ads. However, if the facility is only gaining $1.62 for each dollar spent, you might consider using those funds in a different place, or increasing the size of the ad (more cost) to see if a bigger creative will produce better results. Regardless, you now have the facts to determine how to allocate some or all your advertising funds.

You can do this exercise with all of your advertising methods—Yellow Pages, website, drive-bys, referrals, fliers, and promotional items such as key chains, magnets and pens. Tracking where customers come from will help you and your owner spend advertising dollars more wisely.
 
Internet Advertising

Because the Internet is so large and contains so many sources, it’s critical for you to track how your customers find you online. For example, if you’re spending money each month on a Google pay-per-click campaign, you really want to know who found you on Google vs. who found you on another search engine. With Internet advertising, just like Yellow Pages, you should know exactly what ads your facility has online so they can be tracked.

A simple way of tracking online advertising is to insert a “valued customer questionnaire” in every rental packet. Ask tenants to complete the questionnaire before they leave your office. Review the sheet while the customer is on site in case you want to ask any follow-up questions.

Managers and owners working as a team can produce positive results. You should know and understand your facility’s online and print advertising budget and how to track all incoming leads. Find out from where every rental comes, how far each customer lives from you, and what he liked best about your ad. Knowing this information will help you put your advertising dollars to work, ensuring higher rental percentages and the overall success of your facility.
 
Mel Holsinger is president of Professional Self Storage Management LLC, which manages more than 40 facilities in Arizona, Colorado and Texas. Holsinger has been in the self-storage industry for more than 25 years. He is a frequent speaker at the Inside Self-Storage World Expo and other industry conferences, a contributing writer to Inside Self-Storage magazine and a founder of the Qualified Storage Manager education program. To reach him, call 520.319.2164; e-mail [email protected]

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ISS Blog

Thankful for the Ability to Help Others

This week thoughts of turkey and stuffing, fall vegetables and sweet-potato pie fill our heads. While summertime visions of mass rentals fade as quickly each day as the winter sun, there is still plenty for which to be thankful. Yes, this holiday season will be a bit more difficult for most of us, but there is a bright side.

The self-storage industry as a whole has jumped on board with philanthropy, and more and more facilities are giving back to their communities. There have always been a few, but the numbers are increasing exponentially. This trend seems to have more gathered steam over the past five years or so, and what a terrific thing that is to see.

As we each sit down to our holiday dinner and reflect on what we are thankful for, we need to think about what we can do―or maybe that little bit more we can do―for those who are downtrodden, be it on a personal or business level. Reflect on how fortunate you truly are, and determine how you can make life better for someone else in the coming weeks. Look for the opportunities to expand your horizon and help a fellow human being.

Be thankful you have hands to hold open a door for an elderly or heavily burdened shopper. Be grateful you have legs and feet to complain about after a day out shopping, or the ability to even be out shopping. Be appreciative that you are able to do simple things like pick up a loaf of bread or run out for a gallon of milk ... Many in this world don’t have these resources available to them, these simple everyday parts of life as we know it here in America.

Be happy that you have the freedom to celebrate Thanksgiving. Our forefathers bore many hardships that led to our current lifestyle. While you’re at it, say a prayer for the service members who continue to serve and protect our everyday way of life.
 
And please, as you venture out into the holiday madness, put a smile on your face, no matter how stressed you may be. The simple gesture of a genuine smile from one human being to another could make all of the difference in the world to one person it touches.

 If you have a roof over your head and food in the cupboard, you’re doing better than a lot of others, and maybe you can spare that dollar or three and skip the fancy coffee for one day. If you are so inclined, challenge yourself to do one good thing each week for a stranger, and then share your story. There's a Web portal at HelpOthers.org where folks share their stories about small acts of kindness. The site encourages people to do simple but nice things for others, encouraging them to do for someone else down the road. It's an inspiring read.

The “pay it forward” concept is a good one, and the self-storage industry is setting an example, as evidenced by all the recent press releases regarding charitable giving. Maybe we should all follow the giving concept, not just at the holidays, but during all 52 weeks of the year.

Revisiting Records Storage in 2010: Can It Help Your Self-Storage Business?

What a difference a decade has made. Ten years ago, records storage was considered to be in opposition to self-storage. Since then hundreds, if not thousands, of self-storage facilities have entered the records-storage business. This article explains what’s happened to change the perception of records storage and why self-storage entrepreneurs are more aggressive about offering it than before. 

More than a decade ago, there was a myth about the application of records storage in the self-storage industry: “Self-storage and records storage cannot work together!” Well, that myth has not only been allayed but shattered. Today, it’s common for a facility to have both services under the same roof.

For the most part, the “naysayers” have either gone away or become proponents. The self-storage industry has become more competitive, and overbuilding has occurred in several geographic areas, escalating the need for more ancillary services. Years ago, these involved the sale of boxes and locks and a handful of other items. Today’s ancillary services are unlimited—from wine storage and wine-tasting parties to car washes. However, nothing beats records storage as an ancillary service in terms of revenue per square foot. 

Records Storage, Now More Than Ever

Storage space is the primary commodity of the self-storage and records-storage businesses. In addition, the cost of entering the records-storage business when coupled with self-storage is minimal when compared to that of entering a traditional standalone records-storage center.

Whatever your business plan is, you only have a finite amount of space to generate revenue. The self-storage plan involves renting square feet, while the records-storage plan involves renting cubic feet or “airspace.” Your self-storage revenue is increased through raising rates, but that’s hard to do in a flat economy. With records storage, it’s possible to have a five-year contract with businesses that have residual storage growth of 9 percent to 25 percent annually from existing accounts. There would also be rate increases on an annual, predetermined basis, including a self-renewing contract clause and charges for withdrawal to protect your investment.

Revenue Growth

Records-storage growth in North America exceeded 10 percent last year, and commercial records centers expect more than 10 percent growth again this year, even in a poor economy. PRISM International, a records-storage association, issued a mid-year report to members in 2009 showing growth throughout the industry. It indicated that records storage is generally “immune” to recession or market changes.

Annuity revenue is the key component of records storage. Records-storage revenue never goes down. There are a dozen or more companies who buy commercial records centers. Most are private-equity businesses that are actually buying permanent revenue. New startups provide an “estuary” for building volume in large and small cities. These businesses are nurtured to become plum purchases for buyers.

The records-storage industry has often been compared to the software industry. Software and records centers have the unique factor of guaranteed ongoing revenue―software because of the annual service fees of 18 percent to 22 percent, and records storage due to the cost of pulling out or changing vendors. 

Digital Records

While there has been talk for years about the “paperless office,” it has yet to happen. However, the subject of digital records is complex.

Everyone expects records to be digital because everything around us is digital—music, videos, games, television and so on. What’s stopping the world from digitizing records? Most documents today are created digitally, so it seems easy to the uninitiated. However, we have not yet learned how to keep these records for long periods of time in a digital format without the chance of error, corruption, loss of integrity, or even loss of the document itself by accident or theft. We may know how to do it technically, but the actual practice is difficult, expensive and fraught with problems.

Let’s look at a hospital’s records for example. The president and the U.S. Congress are pushing for digital records as a way of improving healthcare and reducing costs. This is a grand idea, but hospitals have many types of records beyond medical records and X-rays. Some have exceeded more than a thousand types of records. Can you imagine the effort, time and cost it would take any hospital to complete the transition to digital just for medical records, let alone business records.

Other Opportunities

Other records-storage service opportunities are unlimited. It’s true that a commercial records business can include services from a menu of options. The four sister services—storage, imaging, destruction and data media—are just the beginning. The number of potential services within each of those categories is nearly limitless.

While records storage is a great business, it’s not simple. The cost of entry is inexpensive compared to self-storage and the exit strategy can be set at the beginning. The question is, what do you want to do with your business and how many revenue streams can you manage effectively?

Cary F. McGovern has been in the commercial records-management industry for 32 years. He has assisted more than 500 companies in 23 countries enter and excel in this unique business. He is a member of ARMA International and PRISM International, and is a speaker at numerous industry tradeshows and conferences. To reach him, e-mail [email protected]; visit www.fileman.com.

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How to Upsell Ancillary Services and Retail Product in Self-Storage

It’s hard to think about upsells without thinking of the most famous one of all: “Do you want fries with that?”

An upsell occurs when a customer buys something, and then you manage to sell him additional stuff he might want or need. “Do you want fries with that?” is a cliché in the fast-food industry that has trickled over—sometimes as a joke—into business in general. The phrase was originated by a company that wanted to sell other products in addition to its flagship burger. The purpose was to add something the customer might not normally have ordered to increase the average ticket price.

The upselling concept can be used in all industries, even self-storage. The markup on retail products at your facilities is enormous and can immediately increase your bottom line—and your paycheck.
 
The Process

Managers should begin the upsell process by asking the customer to look at the facility’s “merchandise menu” while his lease is being prepared. The menu is a list of all the ancillary products available at your store, such as boxes and locks.

Once the customer looks over the menu, ask him how many boxes he’ll need for his move. Never ask if he needs boxes, ask how many. If he doesn’t need them, he’ll say so; but if he does or is on the fence about it, your assumption will make the upsell happen. Assuming rather than asking is the fastest way to increase profit.

The process of upselling is easy! If you keep in mind that it’s all about the customer, it will become ingrained in your store culture. You can use the approach in a casual or subtle way to convince a customer to purchase more than he initially planned. Don’t think of upselling as a burden; think of it as a way of improving customers’ storage experience. Once the stigma of upselling is shrugged off, you’ll be amazed at the results.

There are many retail products available that will help protect your customers’ items in storage or at home, or simply provide additional peace of mind. If your customers need any of these items, they should buy them from you, not your local Walmart or home-improvement store.

If you’ve properly qualified your customer on his storage unit, you know what he’ll be storing. Now you can paint a mental picture in the customer’s mind about the benefits of the additional products related to those items.

So, what makes a good upsell? In this business, the ideal receipt should include the storage space, a lock, tenant insurance and at least one moving product (a box, truck rental, etc.). Whether the customer is storing for personal or business use, he needs all of these things.

To entice customers, give every new tenant who signs a three-month agreement a moving box or mattress cover. This will ease him into the upsell process and spark an interest in your ancillary products. Upselling is all about building customer loyalty and becoming the one-stop-shop for all your customers’ storage needs.
 
The Script

The biggest mistake we can make in regard to upselling is to not do it. Constant practice and creative training will make all of the difference in this program. Keep in mind that not all attempts will result in an upsell. However, if you don’t try at all, you won’t make any.

Upselling is easy if you think of our primary business as serving customers and meeting their needs. Here are some scripts with simple phrases to help you in the process:
 
Moving Products

  • “While I complete your move-in agreement, please look at our merchandise menu. We have a great return policy on our boxes, so don’t be afraid to get too many. You can bring back the ones you don’t use.”
  • “Thanks for choosing us. While I type in your lease information, please look at our mattress covers. Since you’ll be storing here for awhile, this might give you peace of mind, knowing your mattress is better protected from dust.” 
  • “Now that you have boxes, how many rolls of tape do you think you’ll need?”

Insurance

  • “Based on what you’re storing, I would recommend $5,000 worth of coverage. It’s only $12. Will that coverage be sufficient, or should we look to increase that amount?”

Larger Unit

  • “Many of our customers like to have aisles in their unit so they can get their items in and out easier. (slight pause) I have a larger size available, would you like to see it?”

During your sales presentation, which will subsequently open to the upsell opportunity, always focus on the customer and not just the sale. Upselling is easy and effortless if you listen to the customer and find out what he’s storing. Knowing this information will enable you to tie your products to his needs.
 
Brian Byrd is the vice president of sales and marketing for Landvest Corp., which has managed self-storage assets for owners since 1985. He has several years of multi-property management experience. In the self-storage community, he is also a national speaker, author, trainer and sales coach. To reach him, call 800.635.3130; e-mail [email protected]

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NJ Self-Storage Executive Shares Her Industry Story

This week The Record/NorthJersey.com published an interview with Foy Cooley, who opened the first self-storage facility in the New York metropolitan area, in 1976. Access Self Storage Inc., the company owned by she and her husband, Ken, now owns or manages 19 self-storage facilities in New Jersey and New York, with revenue of $19 million. Last month, the Little Ferry, N.J.-based company opened a new center in Franklin Lakes, N.J.
 
Cooley, 65, is one of only a few female executives in a male-dominated industry. She has served as president of the national Self-Storage Association and on the board of the New Jersey Self Storage Association. She spoke with The Record about her entry into the self-storage business and the history of the industry. She also shared insights about the effect of the economy on self-storage, business trends, why people store and stories about customers in storage.
 
Source: The Record / NorthJersey.com, CEO brought self-storage to N.J.

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Inside Self-Storage Releases Factbook 2010

Inside Self-Storage has released its annual Factbook for 2010. The comprehensive educational tool is a collection of instructive articles covering the gamut of the self-storage experience. Chapters address real estate and finance, development and construction, business operation, management, marketing, legal and insurance issues, technology, and specialty storage.

Beyond the basics, the book addresses sophisticated operational details: improving marketing methods, anticipating and addressing legal issues, hiring and motivating staff, choosing security and software, adding new services and products, and much more.
 
The Factbook is designed to educate all levels of self-storage owners, managers, developers, investors and others. Published annually in November, its articles are authored by dozens of experts across all industry fields. It's a one-of-a-kind encyclopedia for everything self-storage.

To order, visit www.insideselfstorage.com/factbook
  
ISS produces a monthly magazine, bi-annual tradeshows, e-newsletter, webinars, an industry forum, and education programs for the self-storage industry.

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Dubai Businessman Discusses Self-Storage in the Middle East

This week Ghassan Abughazaleh, general manager of Storall LLC, a subsidiary of A&H Al Ghurair Investment LLC, did an interview with Arabian Supply Chain about the emergence of self-storage in the Middle East. He discussed the growing popularity of self-storage in the region, why customers are finding it to be a useful product, and the challenge of creating public awareness about self-storage.
 
Abughazaleh also spoke about Storall, which has emerged as a regional pioneer of self-storage, and how the company is being used as a barometer of industry demand in the United Arab Emirates. He said that despite recent challenges in the business sector, Storall has managed to grow.
 
Abughazaleh explained there are six companies in Dubai and neighboring areas that can legitimately be referred to as self-storage providers, and there is a healthy sense of competition among them. Finally, he provided tips to consumers for choosing a self-storage provider.
 
Abughazaleh is also a shareholder and/or on the board of other companies in Dubai and Egypt. His forte has been in strategic development and the establishment of businesses in various fields such as trade, services, manufacturing and agriculture. 
 
Source: Arabian Supply Chain, Ask the expert: Self storage

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StorageOp Gets Financing for Two MA Self-Storage Facilities

Boston-based Fantini & Gorga arranged $6.385 million in acquisition financing for two self-storage properties in Falmouth and Fairhaven, Mass., on behalf of Storage Opportunities Partners LLC (StorageOp).
 
The Falmouth property consists of five buildings on 4.88 acres, with 79,495 square feet of rentable area and 749 units. It was originally developed in 1997 and expanded in 2001.
 
The six-building Fairhaven property contains 41,583 rentable square feet in 337 units. The facility sits on 4 acres and includes 24 outdoor storage spaces as well as a separate leasing office building.
 
StorageOp owns 13 facilities throughout Massachusetts, Michigan and Rhode Island.
 
Source: Banker & Tradesman, F&G Arranges Acquisition Financing For Self Storage Facilities

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