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Articles from 2011 In February


ISS Blog

Self-Storage Talk and Your Competitors: Is the Forum an Advantage or Liability?

Article-Self-Storage Talk and Your Competitors: Is the Forum an Advantage or Liability?

Most people within the self-storage industry support the idea of a large online forum and community, which exists at Self-Storage Talk. Once they start posting, they make friends and love the interaction. But every once in a while, someone poses a reservation about getting involved on the forum that gets me thinking. I recently received an e-mail where the writer asked me, "What incentive do I have to post my good ideas or business information when my competitor down the street could easily take what I post and use it against me?" It's a fair question, and it ties into a recent poll on SST, posted by moderator MisterJim444, who asks, "How Many Competitors Do You Have Within a 3-Mile Radius of Your Facility?"

Obviously, the self-storage industry is especially competitive these days, and competition is location-driven. Because tenants want to store near where they live or do business, your facility and the ones nearby are competing for the same tenants. Therefore, given the challenges of local competition, here are three things to think about when deciding whether to jump in on the forum.

1. Forums are give and take.

A community only works when people are willing to offer their own experiences, not just read others'. If everyone read and no one posted, or if only a few posted, the discussions would be non-existent or stale. The diversity of viewpoints and voices make the threads worth reading.

2. Your next-door competitor may or may not be active on SST. Either way, you need to be.

First of all, SST has about 4,100 registered members. Even if you are one of the poll respondents who has more than 10 competitors within three miles (three to five competitors within that distance is average, according to the poll), there are still far more members who are not competitors with you than those who are. Those non-competitors are interested only in helping you and learning from you, not in stealing your ideas and using them against you. Of those 10 competitors (at most), the odds even one of them will stalk your forum posts, hoping to steal information, are very slim.

By contrast, suppose the facility next door is represented on the site and someone there is an active reader or poster. It's all the more reason for you to do the same. If he is willing to engage in the forum, perhaps sharing information, he obviously isn't afraid of what you think, so you shouldn't be afraid, either. Not to mention that now your competitor is drawing on the wealth of information on the site, connecting with experts, and generally making his or her enterprise more successful. The better reaction in this case is not to withdraw but to become active on the site yourself and get as much out of it as you can.

3. There's nothing wrong with being anonymous.

If you feel the need to protect yourself, SST is a place where you can reveal your real-life identity and organization or choose not to. Either is completely fine. That's why many choose anonymous usernames when they sign up and are careful in their posts and signatures not to divulge exactly where they're coming from.

In short, I look at SST participation as a competitive edge, not a liability, and as you start posting, I think you'll find many managers and operators agree. Speaking of starting to post, to do so you must register a free account at http://www.selfstoragetalk.com/register.php. It's easy and takes only a few minutes.

Hawaii Self Storage Participates in Prom Dress Charity Drive

Article-Hawaii Self Storage Participates in Prom Dress Charity Drive

Hawaii Self Storage served as a donation drop-off spot for prom dresses and accessories in conjunction with the Bella Project, a non-profit in Honolulu benefitting young women.

The Bella Project organizes an multi-location, annual event called the Bella Boutique, which is open to any high school teenager in need of gently used or new prom attire and accessories. More than 500 dresses, shoes, jewelry and toiletry items were handed out during the event last weekend. Last year, 300 items were donated and dispersed.

Hawaii Self Storage is locally owned by MW Group Ltd., a Hawaii property developer and manager, with more than 15 properties on Oahu and Maui.

Storage Deluxe Acquires 2 New York City Properties, Plans to Develop Them Into Self-Storage

Article-Storage Deluxe Acquires 2 New York City Properties, Plans to Develop Them Into Self-Storage

New York City-based Storage Deluxe, an owner, developer and manager of self-storage properties, revealed last week it acquired two properties, one in Brooklyn and one in Queens, and plans to turn them into self-storage facilities.

The Brooklyn site, home of the former four-story Jewish Press Building, will become a 1,450-unit facility covering 84,000 square feet. The Queens site, specifically in the neighborhood Long Island City, will become a 1,450-unit facility covering 80,000 square feet. The Queens project will begin from scratch and result in a brand-new building. The two new locations are slated to open in early 2012.

In December 2010, Storage Deluxe opened a 1,250-unit, 80,000-square-foot facility in the College Point, Queens, neighborhood. The four-story facility is adjacent to a Home Depot parking lot.

Storage Deluxe continues to be committed to finding great locations in densely populated areas where we can add to our existing New York-metro area footprint. We know there is nothing the urban resident needs more than storage space, said company president Steve Novenstein.

When construction on its two news sites is completed, Storage Deluxe's portfolio will consist of 28 facilities, nearly 38,000 units and more than 2 million square feet of rentable space in the New York City metropolitan area.

Man Crushed and Killed by U-Haul Truck at Denver Self-Storage Facility

Article-Man Crushed and Killed by U-Haul Truck at Denver Self-Storage Facility

A man was crushed and killed by rental truck at a Denver self-storage facility. 

Benjamin Dodt, 26, and a friend were loading or unloading items from a rented U-Haul truck at a Public Storage Saturday when the truck began to roll, police said.

Both men jumped in front of the truck to try and prevent it from hitting the building. Dodt apparently slipped on a patch of ice and was trapped between the truck and the wall of the building. Investigators said Dodt suffered a crushed skull and died at the scene. The friend was not injured.

 

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A-AAA Key Mini Storage in FL Participates in Community Clean-Up Event

Article-A-AAA Key Mini Storage in FL Participates in Community Clean-Up Event

A-AAA Key Mini Storage in Orlando, Fla., participated in a community cleanup Saturday. Dubbed, Clean Up Semoran!, the event encouraged volunteers from the community to collect trash along the roadway from Curry Ford Road to Lake Underhill Road.

Volunteers met at A-AAA Key Mini Storage, 1001 S. Semoran Blvd., at 10:30 a.m. Equipment for the event was provided.

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Moore Self Storage in Pittsburgh Sold to Amsdell Cos.

Article-Moore Self Storage in Pittsburgh Sold to Amsdell Cos.

The Amsdell family of companies recently acquired Moore Self Storage, a 646-unit facility in Pittsburgh for an undisclosed amount.

Built in 1999, the 41,125-square-foot facility was converted from a warehouse to self-storage about 10 years ago. The storage center currently offers climate-controlled units; truck rental and boxes and packing supplies will soon be added.

Amsdells growing self-storage portfolio also includes the purchase of three properties in the Detroit metro area, in addition to several existing locations throughout Florida and Ohio. The new facilities are all operated by Compass Self Storage LLC, a member of the Amsdell family of companies.

We are excited to continue to add great properties to the Amsdell family of high-end self storage centers, said company president Todd Amsdell. We are thrilled to expand our service area in Pittsburgh and to continue offering quality self-storage and moving solutions to our customers. We plan to continue to expand throughout the greater Midwest and look forward to growing the Compass Self Storage brand.

Dan Burkons and Richard A. Schontz, investment specialists in the Cleveland office of Marcus & Millichap Real Estate Investment Services represented the seller and the buyer. Spencer Yablon, broker of record in Pennsylvania, assisted in closing the transaction.

Headquartered in Cleveland, Ohio, the Amsdell Cos. draw their roots from the family-owned construction company founded in 1928. Since that time, the company has since been active in several billions of dollars worth of real estate ventures with a primary focus on self storage.

The Chamberlain Group to Create 100 Jobs in Four Years in Elmhurst, Ill.

Article-The Chamberlain Group to Create 100 Jobs in Four Years in Elmhurst, Ill.

The Chamberlain Group, an Elmhurst, Ill.-based manufacturer of self-storage access-control products, plans to create up to 100 jobs in Elmhurst over the next four years.

The company will invest more than $6 million to open a 23,000-square-foot Innovation and Design Center. Chamberlain also received more than $1 million in state funds to complete the project. The states aid package consists of Economic Development for a Growing Economy funds and the Employer Training Investment Program.

The Chamberlain Group has been headquartered in Elmhurst since 1967. The company currently employs 327 people at its headquarters and at its warehouse in Addison, Ill.

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Seven Hallmarks of a Great Self-Storage Workplace: Keeping Within the Business Mission

Article-Seven Hallmarks of a Great Self-Storage Workplace: Keeping Within the Business Mission

By Norm Spitzig

What exactly makes a workplace great? What are the characteristics common to those workplaces recognized as superior? Regardless of size or industry, a workplace can be considered great if it boasts all of the following attributes.

A Clear Mission

The best workplaces in the world have a clear purpose, a straightforward, concise mission statement that explains who the company is. The statement is readily understandable and enthusiastically embraced by every employee.

Such great companies have carefully identified those factors critical to their long-term success as well as generated a specific vision for the future. Great workplaces create detailed action plans and accompanying areas of responsibility to ensure their vision is more than some pie-in-the-sky dream. Its concrete, actionable, measurable andwith perseverance on everyone's partachievable.

A Trained Staff

Great workplaces have forward-thinking, creative senior management and a caring, well-trained staff. No workplace can remain superior over a significant period of time without quality leadership at the top as well as quality support staff. At great workplaces, everyone from the CEO to yesterday's hire are fully committed to doing whatever it takes to guarantee the company's ongoing success year in and year out.

Equally as important, great workplaces attract people from myriad backgrounds and with varying arsenals of professional and personal skills, talents that complement and enhance each other to the benefit of all employees as well as the customer base. At a great workplace, individuality is valued and cherished, but teamwork remains first and foremost.

Meaningful Work

A great workplace encourages employees to do what they deem as meaningful. Of course, the term denotes different things to different people. Whats meaningful for a CEO of a multi-billion dollar company may differ from that of a solo entrepreneur working at home. Both positions can be genuinely viewed as meaningful, depending on the perspectives of the individuals involved.

Malcolm Gladwell is correct when he notes in his book Outliers that, for most people, work is meaningful when its sufficiently autonomous, appropriately complex, and has a perceived direct relationship between the effort invested and the accompanying return. Great workplaces offer team members the opportunity for every employeeirrespective of their education, talents and experiencesto consistently do what they perceive as genuinely meaningful.

Rules and Policies

Reasonable, understandable and uniformly enforced work rules are the final piece to the puzzle.  Great workplaces have rules and policies that are reasonable, understandable and, perhaps most important, fairly and uniformly enforced. For example, if smoking is prohibited in the work environment, that means no one smokes, not even the CEO. The rules and policies at great workplaces are neither capricious nor arbitrary. They are not written in language so arcane that anyone but a senior tax attorney can comprehend.

Ideally, they are not written to prevent employees from doing something, but rather to set appropriate standards whereby all employees are assured the opportunity to maximize their potential. In short, great workplaces embrace rules and policies that reflect the core values of the workplace as well as the expectations of the employees and customers in a fair and logical manner.

A Blend of Tradition and Innovation

While great workplaces are environments where employees devote a significant amount of time to improving current products and services as well as creating new ones, they are also places where tradition and continuity are highly valued. Longstanding products and services are not whimsically eliminated to the detriment of loyal customers. Rather, theyre continually improved as circumstances dictate to the benefit of all concerned.

At great workplaces, all are aware and proud of their company's origins and heritage, growth and evolution, positive reputation in the community, quality products and services, mission for the present, and vision for the future.

Open Communication

Great workplaces have regular, honest communication between everyone involved in the long-term success of the company. Staff and customers are kept informed and encouraged to participate in the company mission, vision, policies and procedures as well as any significant changes under consideration. In other words, theyre given adequate opportunity to convey their ideas and suggestions to company leadership.

Managers at great workplaces are unwavering in their commitment to management by walking around, because they know this time-tested practice promotes open communication and minimizes potential problems. Great workplaces typically have company newsletters, both electronic and print, that regularly and effectively communicate the various opportunities available to staff and customers in an accurate and timely manner.

Fiscal Responsibility

Last, but certainly not least, great workplaces are fiscally prudent in the manner they operate. They have detailed, multi-year business plans that feature accurate income and expense projections, conservative cash-flow estimates, sufficient funding for research, development, infrastructure maintenance, renovation and expansion, and realistic cash-flow projections.

In addition, great businesses rigorously monitor and adjust their financial plans on a regular basis as circumstances dictate. They know exactly how much money will be required to provide the quality products and services their customers want and expect the specific costs associated with them. The long-term financial well-being of the workplace remains a high priority in the minds of all concerned.

A great workplace employs happy, productive and talented people who perform meaningful work compatible with the mission, vision and financial goals of the company. It takes constant effort and vigilance to be a truly great workplace, but the end result is well worth it.

Norm Spitzig is principal at Master Club Advisors, an executive placement firm for the private club industry. Hes a speaker and author of Perspectives on Club Management and Private Clubs in America and Around the World. For more information, call 352.735.5693; e-mail normspitzig@hotmail.com; visit www.masterclubadvisors.com.

ISS Blog

Self-Storage Encounters of the Excrement Kind

Article-Self-Storage Encounters of the Excrement Kind

Warning: This blog post contains potentially vulgar references. If toilet talk is not to your amusement, perhaps decline this reading opportunity.

Its after 5 on a Friday, and Ive had one of those work weeks, the kind that mustve inspired the popular Calgon ad campaign, Take me away! But whenever I have a particularly taxing day at the office, perhaps feeling a bit dispirited by the trials corporate life, I think back to my years of waiting tables during college, and about the types of unexpected challenges faced every day by self-storage managers. Im talking about the inane nonsense you can encounter when you interact closely with the public; you just never know whats going to come at you.

Being a restaurant server wasnt bad way to earn a living, but there were moments when the urge to tip a hot plate of pasta into someones lap was tantalizingly intense. I was called every pet name in the book by members of the male persuasion (honey, sweetie, darlin, and my ubiquitous favorite, toots). I experienced instances of being snapped at (literally and figuratively), waved at, yelled at ... And I once had a guy throw a piece of bread at me. But I never had someone relieve himself at my table or had to clean up the remnants of a posterior bodily function.

Some self-storage managers, on the other hand, have had that experience, and I read some of their stories this evening on Self-Storage Talk.

I like hanging out in the Tales From the Trenches forum, where community members share some of the most outrageous, hilarious and outright shocking accounts about life as a facility operator. Today, needing a laugh, I was perusing forum threads when the title Tenant full of **** caught my eye; but it wasnt what I expected.

Anticipating a story about a self-storage customers tall tales (usually spun in regard to late rent), I was stunned by what I read. I wont give the punchline away, but lets say it recalls to mind a little ditty I learned in grade school, something about floating down the gutter... The thread initiator, a facility manager, had a rather unpleasant surprise while conducting a daily site inspection last week.

Other operators have jumped in the mix to share some of their own fecal frights. They range from the common, such as finding used baby diapers, to the highly unusual, such as discovering someone has left a bag of goodness on your doorstep. One manager had a tenant who would defecate in a bucket and leave it by the dumpster at night. Another found a shoe box full of urine in an empty unit. One actually had a tenant poop against one of his unit doors. (Revolting as that is, one has to wonder at the logistics of pulling it off.)

Well, I warned you at the beginning. If youre still reading, perhaps you had a day like mine and really needed something to distract your mind. I bet it worked! This topic is like a train wreckawful, but you cant turn away.

If youre a self-storage manager with a story or comment to share, please post it to the blog. You all deserve medals for the brave work you do. I hope your weekend is wonderful and waste-free.

U-Store-It Declares First-Quarter 2011 Dividend for Shareholders

Article-U-Store-It Declares First-Quarter 2011 Dividend for Shareholders

The board of trustees for U-Store-It Trust, a real estate investment trust focused on self-storage facilities, declared a quarterly dividend of $0.07 per common share for the period ending March 31, 2011. The dividend is payable on April 22 to common shareholders of record on April 7.

U-Store-It owns and or manages 457 facilities across the United States, and operates the U-Store-It Network, which consists of approximately 722 additional self-storage facilities.