As a self-storage owner, you’ve likely made some changes to your business in the past year. The global health crisis brought a host of challenges to your door, including unique sanitation needs, new legal concerns, social-distancing requirements and heightened consumer demand for risk-free rental options. Meanwhile, the industry has continued to enjoy an extraordinary development boom, causing market competition to intensify. With all this, you’ve likely spent more time and effort on your business lately than you have since opening day!

Now it’s time to up the ante. Pandemic aside, your business will continue to face obstacles this year and beyond, and you need to be prepared. Fortunately, we have your ace in the hole. The Inside Self-Storage (ISS) World Expo, July 13-16, offers four days of education, networking and exhibits to ensure you hit the jackpot. Learn more the opportunities that’ll propel your business to the next level of the game.

Play Your Best Hand

With all the chaos of the past year, it’s perhaps been difficult to keep your eye on some of the most basic elements of your self-storage operation. You were dealt a lot of unexpected cards! Still, there are many critical tasks you must address, regardless of what’s happening in the world.

Our carefully crafted Ownership Track of seminars offers seven sessions catered to your unique business needs:

• 5 Smart Things Self-Storage Owners Should Do Every Year (But Many Often Forget)
• An Owner’s Guide to Remote Self-Storage Management: It Isn’t Just for Pandemics!
• The Keys to a Smooth-Running Self-Storage Business: Implementing Policies and Procedures
• In Self-Storage, Staff Is King: People-Management Mistakes to Avoid
• Self-Storage Diagnostics: 5 Ways to Measure the True Health of Your Business
• Is It Time to Become a Multi-Site Self-Storage Operation? Why and How to Grow Your Portfolio
• Spend Where It Counts! Ways to Cut Costs and Boost Your Self-Storage Bottom Line

In addition, you can stack your deck of knowledge by attending some of the expo’s eight in-depth workshops. This year’s four-hour sessions are:

• Acquisitions Workshop
• Advanced Legal Workshop
• Development Workshop: Building
• Development Workshop: Planning
• Digital Marketing Workshop
• Operations Workshop: Fundamentals
• Operations Workshop: Advanced
• Risk Management Workshop

Take a Chance

A difficult choice many self-storage owners made last year was to close their front office to foot traffic or limit business hours. Many soon discovered the benefits of leveraging a contact-free customer experience enabled by technology, which allowed them to operate their sites remotely while giving customers the rental options they now crave. If you aren’t quite sold on a high-tech model or just want to learn about the latest strategies and tools, the following seminars will give you a much stronger hand:

• Technology Trends to Welcome in a Progressively Virtual Self-Storage Landscape
• Can’t Touch This! A Thorough Exploration of the Contact-Free Self-Storage Rental Process
• Getting Smart: Real-World Self-Storage Applications for the Internet of Things
• Spilling the Tea on Self-Storage Technology: Straight Talk From Fellow Facility Operators
• Help When You Need It Most: When and How to Leverage Self-Storage Tech Support
• The Must-Have Elements of Site Security: Advanced Technology for Self-Storage
• Making the Leap: Taking Your Small Self-Storage Operation From Tech-Free to Tech-Savvy
• Cultivating a 5-Star Experience: How to Foresee and Meet the Needs of Your Self-Storage Customers
• Bridging the Digital Service Gap: Ways to Humanize Technology in Self-Storage

Pair Up

One of the primary goals of the ISS World Expo is to create meaningful connections between industry professionals. Whether you’re hoping to network with subject-matter experts, fellow colleagues from a specific sector of the business, or knowledgeable product and service suppliers, we’ve created chances for you to interact and engage.

For example, our Self-Storage Q&A Sessions are the perfect place to meet peers and get your pressing questions answered. Once upon a time, we had a single event called the “Open Forum Q&A.” In 2019, we expanded this to three topic-themed sessions. For this year, we’ve expanded still further, to help keep each conversation ultra-focused as well as prevent overcrowding in the seminar rooms. Now you can choose from six options, each hosted by a pair of hand-picked experts in the field.

• Building
• Investing
• Management
• Marketing
• Staffing
• Technology

This year’s Storage Talks (formerly known as Table Talks, or roundtable discussions) have also been retooled this year, but will still offer a space to share and learn with your peers. Think of these as mini Ted Talks. Thirty unique topics will be organized by category across six rooms. In each space, speakers will rotate on the stage in 10-minute increments, giving a short presentation and then inviting feedback and questions from the audience.

Sadly, due to safety restrictions, we aren’t able to offer a grand cocktail reception this year, but we’ve come up with something better: the ISS Attendee Lounge! Pop over to Caribbean Court between 7 a.m. and 5 p.m. on all four event days to enjoy complimentary coffee/tea service in the morning until 10 a.m. From that point, you can purchase water, soft drinks and cocktails. Each registration comes with two free drinks, and the lounge is a perfect place for mingling and impromptu meetings.

Finally, if you’re looking for new products and services or simply want to chat with a favorite vendor, you’ll have plenty of time during our extended expo-hall hours on July 14 and 15. It’s a great place to get demos, pick up information, ask questions and make connections. If you’re a member of your state self-storage association or would like to be, stop by the association area, too.

Never gamble with your business! It’s time to double down on your investment, make improvements and prep for the next major challenge. Plan to attend this year’s show so you can tackle what’s ahead and reach your goals. To register and learn more about education sessions, exhibitors and speakers, visit issworldexpo.com.

Efficient, successful operation of a self-storage facility requires a lot of work. As an owner, you’re faced with many challenges as you aim to stay ahead of the curve. Choosing to hire a third-party management company can help you maintain—if not exceed—the pace of your competition. It can also provide peace of mind in knowing your business and employees are well-supported.

If you’re interested in outsourcing your facility management, here are some things you should understand about how it works and what to consider when hiring a partner.

A Team of Experts

A third-party management company is a team of experienced self-storage professionals who provide independent owners or investment groups with a comprehensive set of business-planning tools. It uses a variety of systems to oversee day-to-day facility operation on your behalf.

A management firm can be small or large, regional or national, and can provide a range of services. These include but are not limited to legal and human resources, online and offline marketing, revenue management, and staff hiring and training. All these offerings maintain a focus on increasing revenue and net operating income (NOI).

The Goals

There are many reasons you might hire a third-party management company, including your own level of industry experience and availability to manage the business. One of the main benefits is the freedom and relief of not having to handle the daily challenges of the business. A strong partner will also help you drive revenue and increase asset value.

There are some differences in how third-party companies work, however. Some are small with a family feel while others are large and more corporate, possibly even a real estate investment trust. Some will require you to rebrand the business, while others allow you to maintain your own identity. You’ll need to determine which kind of approach best fits your needs.

The goal of every management company is to create value for ownership while lowering expenses. An experienced firm understands the levers that drive the business and uses resources to which most independent owners don’t have access. Many can provide an economy of scale through the power of group buying to lower expenses in areas such as online marketing, health benefits, general liability insurance, credit card fees, payroll expenses and much more. All this can be accomplished while yielding strong revenue and NOI growth.

The Owner-Partner Relationship

Your role and relationship with the management company depends on your preferences and the type of partner you choose to hire. Some owners prefer less communication, satisfied with quarterly meetings or updates. Other like to speak with the management team more frequently. A well-structured firm will work around your inclinations so you can be informed when and how you’d like.

How should you evaluate a potential partner? Create a list of factors that are most important to you, focusing on your plans and goals for the business. Once you have your list, write questions that’ll help you assess the company’s ability to meet those objectives. For example, you might ask:

• Can I keep my current branding, or will I need to rebrand under your company name?
• What types of reporting can/will I receive and how often?
• How will you communicate with me?
• How will you handle my existing employees during the transition?

It’s also vital that you understand the company’s fee structure, what’s included as part of those fees and what’s considered an add-on service. Make sure you ask every vendor the same questions, so you’re ultimately comparing apples to apples. Thorough due diligence can save you from misunderstandings and additional costs.

The Price Tag

The cost to hire a third-party management firm can vary. However, the industry standard is 6 percent of total business revenue. Still, this can be misleading and an area in which it’s critical to communicate with the management firm. You need to ask what exactly is included in these fees. Sometimes the percentage will roll up to 10 percent or more after adding all the pass-through costs. Find out what’s include and get it in writing.

Choosing the right third-party management company for your self-storage operation is an important part of your facility’s long-term success. Whichever type of company you choose, make sure it’s in sync with your goals and needs. Look for a responsive partner and have a clear understanding of the agreement between you. If possible, solicit insight from the firm’s existing customers to gauge their level of satisfaction. This will help you further identity if the company aligns with the goals for your business.

Christina Rita is vice president of operations for StoragePRO Management Inc., an independent management company specializing in self-storage. Founded in 1975, it manages more than 80 properties in eight states. For more information, call 877.915.7806.

The Self Storage Association of the United Kingdom (SSA-UK), in conjunction with real estate firm Cushman & Wakefield, has released its 2021 report revealing key performance statistics regarding the local self-storage industry. The report includes data collected from operators, self-storage customers and the general public.

Available on the association’s website, the data was collected in January and February, with information based on the 2020 calendar year. Additional questions were added to learn about the impact of the COVID-19 pandemic on the industry.

Key results show overall occupancy was 82.3%, up from 76.2% the previous year, with the average rental rate at £23.94 per square foot per year. It also indicates 92% of customers were satisfied with the service from their storage provider, while 50% of the public has a good awareness of self-storage.

Other results reveal a death in the family was the most common life event for which people sought storage. Those renovating their home are also three times more likely to use the service.

Storage customers’ preference for reserving a unit online over in-person dropped from 33% to 25% in 2020. In addition, only 17% of customers reported their usage or need for self-storage changed during the pandemic.

The SSA-UK also provides an online dashboard that examines how the industry has performed in the last five years. Users can categorize the data based on geography and other demographics.

Established in 1995, the SSA-UK is the principal trade association representing self-storage operators and industry supplier members’ interests in the U.K. It has approximately 440 members.

Founded in 1917, Cushman & Wakefield offers consulting and appraisal, corporate services, debt and equity financing, investment banking, leasing, sales, and acquisitions. Headquartered in Chicago, it operates from 400 offices in 60 countries, has 53,000 employees and manages 4.1 billion square feet of commercial space.

 

Update 5/28/21 – A Devon Self Storage facility in Chicago has been chosen by Bonansinga and his crew to film the ‘Self Storage’ horror movie trailer. The shoot will be held in mid-June. The active, Canal Street property has been featured in other video projects. It offers a versatile mix of settings in which to shoot including climate-controlled and drive-up units, loading docks, wine storage, cold storage, and office and retail space, according to Raheem Amer, senior vice president of operations for Devon. Delirium selected the site after Bonansinga and a cinematographer toured the facility.

Devon was interested in participating in the movie trailer as a way to promote the industry. “We are always looking to get involved in interesting ideas that promote self-storage,” Amer said.

The operator is no stranger to having its facilities used by entertainment companies. One facility’s parking lot was used for a police-chase scene, and an Arizona location was featured in the “Breaking Bad” television series, according to Amer.

Headquartered in Emeryville, Calif., Devon operates 38 facilities across 22 states. Its portfolio comprises more than 2.7 million net rentable square feet.

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5/5/21 – “Walking Dead” author Jay Bonansinga used self-storage as the setting for his horror-thriller novel “Self Storage.” Now, production company Delirium Tremens Entertainment is seeking an actual storage facility in the Chicago area at which to shoot a trailer in mid to late May for the film adaptation of the book.

“We’re looking to shoot for one day inside (and outside) a self-storage facility in the Chicago metro area,” company officials said. “The facility doesn’t even have to be operational. It can be closed for whatever reason—renovation, change in ownership, pre-demolition, whatever—but it also can be open for business; and we are happy to shoot at night or during off-hours.”

The key feature the company is looking for is a “very long hallway” with storage units on both sides, a very common element in climate-controlled facilities. Delirium Tremens would also like the ability to use its own lighting equipment, so an A/C outlet in or near the hallway is desirable.

The filmmakers would also like to photograph an exterior storage-unit door with a deadbolt or padlock, along with corresponding keys. Though the actors will be photographed unlocking the door and going inside, the door itself can be anywhere on the premises, officials said.

In addition, the company is looking for aerial drone footage of an older, rural, rundown self-storage facility. The property can be a different location than the one used for the hallway scene and photo shoot. If drone footage doesn’t exist, Delirium can shoot its own, officials said.

Self-storage owners in the Chicago area who would like to participate should reach out directly to Jeff Siegel at jeff@jeffsiegelcreative.com.

Written in 2016, “Self Storage” centers on Johnny Fitzgerald, a lonely, divorced graphic illustrator with a major heroin habit. When Johnny accidentally gets trapped inside a deserted self-storage facility with his 6-year-old son, he’s forced to face demons both real and imagined. While trapped inside the unit, father and son battle thirst, hunger, the effects of heroin withdrawal, and something dark and terrifying touched off by the self-storage facility itself.

The book, which Bonansinga has called his “most personal” work, is available for purchase through the Inside Self-Storage Store. Best known for writing “The Walking Dead” novels based on the Robert Kirkman comic-book series, Bonansinga is also writing the “Self Storage” movie script.

CallPotential, a provider of lead-management and communications software for the self-storage industry, has launched a beta version of a new call-center dashboard, giving users visibility into day-to-day facility operations. The enhancement to the company’s Contact Center software allows self-storage operators to quickly view call-center analytics for metrics like agent availability, calls, service level, performance and queues. The centralized view and real-time reporting is designed to provide insight to quality-control improvements and training opportunities, according to a press release.

CallPotential released its beta version to gather feedback from users, which the company will use to implement improvements and add features, the release stated. “We’re proud to reveal the new dashboard in an effort to drastically improve how operators view their call-center activity,” said Phil Murphy, founder and president. “The dashboard offers a better visualization of granular data through a single view, so managers can reduce time spent on data consumption and optimize their service.”

CallPotential’s customer-relationship-management platform integrates with self-storage facility-management software. It organizes and automates the lead- and collection-management processes using omnichannel communication tools such as text messaging, email, live and recorded calls, and live chat.

Source:
CallPotential, Discover the New Contact Center Dashboard for Self Storage Operators

“Trying to learn from what’s behind you / And never knowing what’s in store / Makes each day a constant battle /Just to stay between the shores.”
—Garth Brooks, “The River”

Like most self-storage developers, we’ve seen our fair share of challenges when trying to take a project from planning to approval. In the last several years, we’ve run into enough issues to make your head spin. But as a result, we’ve become well-versed in navigating the increasingly choppy waters of the planning and development process.

Following are two critical errors many builders and owners make when pursuing a new self-storage project. I’ll also share some obstacles my company recently faced and what we learned from them.

Critical Mistake 1: Having Unrealistic Expectations

The most common mistake made by self-storage developers today is to underestimate the time, effort and expense that’ll be involved. Twenty years ago, you could drive around until you found the cheapest possible land (85 cents per square foot!), talk to the city once, produce a hand-drawn plan and then pull a permit before scraping the dirt away as your own general contractor. Believe me, that is not how it works today. However, these stories continue to circulate, which causes some owners to have unrealistic expectations for getting a project approved and completed.

One way to set practical goals is to seek advice from other self-storage developers who’ve gone through the process in the same market or similar municipality. Most are good about sharing information, and it allows you to hear firsthand about challenges others have experienced.

It’s also highly recommended that you talk to the municipality before starting any formal application to get a better understanding of the local political climate as it relates to self-storage. If you sense officials don’t want your project there, be ready for a very long, arduous process that may not come to fruition.

Critical Mistake 2: Failing to Face Harsh Realities

The other common mistake self-storage developers make is what I like to refer to as the “ostrich trap.” In other words, they bury their head in the sand and plow ahead with a project without thoroughly evaluating the market or accepting harsh realities of their situation. They convince themselves everything is fine and refuse to acknowledge signs of risk.

One way to overcome this is to take advantage of the data and technology at your fingertips. It wasn’t long ago that we had to compile market information ourselves from a bunch of different sources. Today, there are several providers that have become adept at tracking current and future supply. They provide excellent tools that can help you understand market dynamics and what an area will look like once any upcoming developments are complete. You want to avoid areas with too much new supply coming online, especially in a condensed period.

Another way to keep your head up and eyes wide open is to talk to existing self-storage operators and get a good read on the market. Seek advice from those who’ve already penetrated the area. Too many owners and developers rely only on a third-party report to tell them if a site is worthwhile. Feasibility companies are good at what they do, but they aren’t the ones who are going to suffer if the project fails.

Don’t become so emotionally attached to a project that you stop making sound decisions. As King Solomon famously said, “Make plans by seeking advice.” It’s amazing the guidance and knowledge people will share if you’re willing to reach out and ask for it.

Trials and Tribulations

My company has faced its share of challenges when completing modern self-storage developments. We’ve lost land deals to the likes of Walgreens and other major retailers. We’ve lost deals due to hidden and convoluted title-work issues and private land covenants that reared their heads late in the process and blocked self-storage as a use. We’ve had entire communities show up to neighborhood meetings only to slam our project with uneducated objections and, sometimes, straight-out lies about the impact it would have on the area. We’ve been extorted by private groups related to a transaction that used their leverage in an unethical way. We’ve had other self-storage developers and owners show up to protest our project in an attempt to limit competition. The list goes on and on.

One recent project serves as a good example of what can go wrong. We liked this particular market but knew it would be a challenge to get approved. We often target areas that have high barriers to entry, but we’re well-suited to take on the arduous process. In this case, we scoured the market for more than six months before we found a property we liked and got it under contract.

We then spent more than two years holding meetings with residents and planning office, designing and redesigning our project to meet and exceed every standard and concern we heard from the community. Ultimately, city planners as well as the planning and zoning commission recommended our facility for approval. We even had some letters of support from local property owners.

At long last, the final step was to get approval from the city council. Our fate was in their hands. By this point, the project was fully designed and engineered. Our expenses for the design, legal fees, traffic and environmental studies, etc., were approximately $250,000, and we had no guarantee the plan would get the green light. (As an aside, a quarter million dollars is a good rule of thumb for what it’ll cost to get any project fully entitled. This isn’t pocket change, and that money is very much at risk throughout the process.)

It was well past midnight by the time we’d our presentation, conducted a Q&A and done our best to articulate all the reasons why the project should be approved. Still, the council voted no.

We left feeling defeated and discouraged, but this is part of the business. To succeed as a self-storage developer, you must have thick skin. We dusted ourselves off and went back to work looking for our next great opportunity. Undeterred, we found another site in the same market and are well on our way, spending more money and putting forth the necessary effort for a chance to make the dream come true.

Brandon Grebe is principal partner at GYS Development LLC, which specializes in self-storage acquisitions and development. It co-manages the Blue Sky Self Storage brand and is a division of Grow Your Storage LLC, a Texas-based property-management firm. Brandon focuses on expanding the company’s real estate portfolio by finding and acquiring new sites to get them developed, built and operational. He’s developed 20 sites in six states in the last five years. To reach him call 970.556.9111; email brandon@gysdev.com.

A self-storage owner is running for one of two vacant city council seats in Long Beach, Washington. Richard Vincent, owner of All Safe Mini-Storage, will face George Coleman, a musician and retired software architect, in the Nov. 2 general election, according to the source.

Neither incumbent councilmember is seeking re-election. Vincent, 75, and Coleman, 72, will vie for the seat being vacated by Holli Kemmer, who was appointed in February 2016. Karla Jensen, owner of Mermaid Inn & RV Park, and Patrick Reddy, owner of 360 Apartments, will compete for the position previously held by Kevin Cline.

In addition to self-storage, All Safe at 108 26th St. N.E. offers U-Haul truck rentals.

Source:
Chinook Observer, Contested Mayor, City Council Races Highlight Filing Week

Update 5/27/21 – My Other Garage in Slinger, Wisconsin, sold to a limited liability company (LLC). The facility at 3651 Lovers Lane comprises 16,420 square feet in two buildings. Opened in January 2020, the property has approvals for an additional 12 structures comprising 90,970 square feet. The buyer and the seller, also an LLC, were represented in the transaction by Sean M. Delaney, senior vice president and investment specialist for Marcus & Millichap, a commercial real estate investment firm with offices throughout Canada and the United States.

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10/14/19 – The Ridgefield Planning and Zoning Commission approved Saber’s self-storage plans as well as the wetlands application for the Ethan Allen Highway project. Commissioners voted 5-1 on Oct. 2 in favor of the developer’s plan. In his lone dissent, John Katz called the project a “serious eyesore” and argued it didn’t “meet the standards that we set for applications.” The wetlands application received unanimous approval. Two commissioners, including property co-owner Joe Fossi, recused themselves from proceedings.

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9/25/19 – Saber is facing opposition from residents in its quest to build a self-storage facility in Ridgefield, Conn. Eight people spoke against the project during a three-hour public hearing on Sept. 10. They voiced concerns about the number of trips trucks will make during the excavation as well as blasting and soil erosion at the site. They also took issue with the size of the four-story building, which will be about 43 feet high in the front and comprise 77,000 square feet. Its total footprint will be 19,200 square feet. The next public hearing is scheduled for Oct. 2.

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9/23/19 – PV Asset Management received approval last week from the Brooklawn Planning and Zoning Board and Bellmawr Zoning Board to build its facility on Kings Highway. The boards added several conditions, which are being finalized, a source reported. Demolition of the restaurant on the site will begin in February or March. The storage business is expected to open in early 2021.

Taylor/Theus Holdings received approval on Sept. 17 from the Sandy Springs Council to demolish a shopping center and build a three-story, mixed-use facility in its place. The project has been supported by city staff and the planning commission for its “positive” redevelopment.

“The developers have taken the necessary concern for the neighbors, for the nonprofits, for the children. Hopefully, it is the start of an improvement along Northwood Drive,” said Tibby DeJulio, a councilmember for district five.

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8/30/19 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is more activity taking place in August 2019.

1-800-Self-Storage.com broke ground on a facility in Clinton Township, Mich. The three-story structure on Hall Road will be the company’s 14th location overall and its first in Macomb County. The operator has already purchased another parcel for what may be an additional Clinton location. The area is attractive for self-storage development because the county has shown consistent growth during the last 10 years, according to Wendy Carter, operations manager.

A joint venture between 1026 Real Estate Investors and Diversified Properties LLC intends to develop a three-story self-storage facility in Montville, N.J. The building at 352 Main Road will sit on 2.5 acres and comprises 98,000 square feet. It’ll be managed by CubeSmart, a self-storage real estate investment trust (REIT) and third-party management firm. New York City-based 1026 Real Estate is headed by principal Douglas Oliver. Montville-based Diversified is a full-service real estate company specializing in commercial and residential development and construction.

Development firm APX Construction Group is seeking zoning approval to convert part of a shuttered Lowe’s Home Improvement store in Mankato, Minn., to self-storage. Plans call for two levels of storage on the east side of the building at 2015 Bassett Drive. Once complete, the facility will encompass about one-third of the 138,000-square-foot structure. The remaining would be marketed for lease. The property has an estimated market value of $5.8 million, according to county tax records.

Brach's Storage has opened a third location in Grand Junction, Colo. The two-story facility at 2497 Power Road, No. 20, comprises 19,000 square feet in 172 climate-controlled units. It’s adjacent to an existing Brach’s location at 2499 Power Road. Owners Dave and Ann Brach also operate a facility at 411 Brach Drive. All three are on land Dave Brach’s parents, Louie and Betty Brach, purchased 60 years ago. Development on the property also included Brach’s Market, restaurants and a movie theater. A portion was donated for the Colorado Riverfront Trail.

Real estate developer Capella Capital Partners LLC completed construction on a self-storage facility in Austin, Texas. The three-story structure at 700 Victor St. comprises 70,000 square feet in 577 units. Public Storage Inc., a publicly traded self-storage REIT and third-party management firm, manages the facility, which is branded under its name. Based in Austin, Capella has development and investment interests in mixed-use and multi-family projects in addition to self-storage. It’s an affiliate of real estate services firm Capella Commercial.

The joint-venture partnership between Clark Investment Group and Nuvo Development Partners LLC is developing a new climate-controlled facility in Atlanta. The property at 1599 Memorial Drive S.E. is 3 miles east of downtown. The $10.4 million nonrecourse construction loan with a Midwestern-based bank was negotiated by Talonvest Capital Inc., a boutique real estate adviser serving the self-storage industry. It features a 70 percent advance rate and interest-only payments for the five-year loan term.

Harlan Douglass, owner of Douglass Properties and Self Storage of Spokane, is building Airway Heights Mini Storage in Spokane, Wash. The 7-acre site at 1346 S. Campus Road is off U.S. Highway 2, just east of its intersection with Flint Road. Once complete, the facility will comprise 14 buildings, including a two-story office, and 32,000 square feet of covered vehicle storage. The project is valued at $5.8 million, according to a source. Self Storage of Spokane operates two locations in Spokane and one in Spokane Valley, Wash. Douglass’ son, Lancze, owns seven Secure-It Self Storage facilities in the region.

ezStorage Corp. opened its first location in Fairfax, Va. The newly constructed facility at 3180 Draper Drive is the company’s 50th overall. Founded in 1988, ezStorage operates properties in Maryland, Virginia and Washington, D.C.

In a partnership with private investors, Liberty Investment Properties is developing Liberty Corner, a three-story, mixed-use project in Orlando, Fla. The project at 107 Hillcrest St. is in the city’s central-business district, at the intersection of East Colonial and Magnolia Avenue. Expected to be complete by the end of the year, it’ll include My Neighborhood Storage Center of Magnolia, comprising 95,660 square feet of storage in nearly 700 climate-controlled units on the second and third floor. It’ll also house six retail spaces encompassing 15,000 square feet on the first floor, including a restaurant and drive-through. Turner Construction Co. is the general contractor and commercial real estate agency Bishop Beale Duncan will be the leasing manager for the restaurant and retail. Liberty is a privately held real estate investment, development and management firm focused on income-producing assets and related equity and debt investments on behalf of individual and institutional investors.

My Choice Self Storage, which operates five facilities in Wisconsin, is opening a new location this fall in West Bend, Wis. Eastside Storage will sit on 5.4 acres at 500 N. River Road. The facility will be built in multiple phases. It’ll begin with four buildings, with two more structures planned. The company also intends to add a climate-controlled building to its existing site at 2010 American Eagle Drive in Slinger, Wis., which is expected to be complete next month.

My Other Garage is building a self-storage facility in Polk, Wis. The two-building property at 3651 N. Lovers Lane Road in Polk, Wis., will comprise 400 units, which will be large enough to accommodate boats and RVs. There’s room to add more buildings to the site, according to owner Peter Briggs. My Other Garage also operates a self-storage facility in Hartland, Wis.

Port Stephens Self Storage opened a second location in Taylors Beach, New South Wales, Australia. Hugh Bateman, who co-owns the business with his wife, Catherine, opened the first site at 20-22 Shearwater Drive in 2012. The new facility is in the Commerce Close neighborhood.

Public Storage Inc. was denied a conditional-use permit by the Tarpon Springs, Fla., City Commission. The REIT wanted to convert 16,000 square feet of unused retail space along Pinellas Avenue. Though self-storage was considered a compatible use for the site, the commission voted 3-2 against the plan, following a city-staff recommendation. Based on feedback from a June hearing, project manager Rick McKeever reworked the facility’s design to look like two “coastal cabanas,” but commissioners indicated they preferred a small business for the site. Based in Glendale, Calif., Public Storage has interests in 2,444 self-storage facilities in 38 states, with approximately 164 million net rentable square feet. Operating under the Shurgard brand name, the company also has 231 facilities in seven European countries, with approximately 13 million net rentable square feet.

PV Asset Management LLC intends to build a three-story self-storage facility on two parcels that straddle the boundary between Bellmawr and Brooklawn, N.J. The developer has applied for permits to redevelop the site and demolish The Pennant, a former restaurant occupying the property at 141 Kings Highway. The Brooklawn Planning and Zoning Board discussed the project during a hearing on Wednesday. The Bellmawr Zoning Board will address the application on Sept. 17.

SAFStor Inc., a self-administered and self-managed real estate investment trust, is developing a new facility in Atlanta. The three-story project will be the company’s first foray into the self-storage industry. Once complete, the facility at 430 Bishop St. N.W. in the Loring Heights neighborhood will comprise 106,455 square feet in 889 climate-controlled units. The general contractor on the $6.7 million project is ARCO Design/Build Inc., a Dallas-based firm that offers design, build and general-contractor services nationwide. Based in Atlanta, SAFStor operates through three vertically-integrated segments, SAFStor Development, SAFStor Construction Management and SAFStor Property Management. The company is seeking development opportunities throughout the country, according to its website.

Self Storage Plus, which operates 34 facilities in Maryland, Virginia and Washington, D.C., has opened two new locations in Middle River Md., and Springfield, Va. The three-story facility at 3318 Eastern Blvd. in Middle River sits on 2.67 acres and contains 85,900 rentable square feet in 910 interior, climate-controlled units and 39 exterior drive-up units. The building includes a mezzanine level. The three-story facility at 5415 Industrial Drive in Springville is just off Edsall Road and sits on 2.26 acres. It comprises 101,938 rentable square feet in 1,262 interior, climate-controlled units and includes a cellar.

Spacebox USA opened a new self-storage facility in Lake Park, Fla. The three-story structure at 210 N. Congress Ave. comprises 100,000 rentable square feet in 789 units. A grand-opening ceremony for the property last week was attended by members of Palm Beach County Fire Rescue, the Lake Park Town Commission, and representatives from Palm Beach North Chamber of Commerce. Based in Hattiesburg, Miss., Spacebox operates four self-storage facilities in Florida. It has two more locations under development in Crestview and Tampa, Fla., according to manager John Gores.

Taylor/Theus Holdings Inc. is seeking approval to demolish a shopping center in Sandy Springs, Ga., and build a three-story, mixed-use facility in its place that’ll include self-storage and retail. City staff, which recommend approving the project, presented the proposal to the planning commission on Aug. 27. The building at 120 Northwood Drive houses several businesses, a church and nonprofits, including a satellite office for the Community Assistance Center, which helps people at risk of homelessness. All would be displaced during construction, but the developer has proposed offering space to the nonprofits once the building is complete. Taylor/Theus is also preserving space for “neighborhood-serving” retail, such as grocery stores, laundromats, etc., and a park that’ll be donated to the city, a source reported.

The developer held community meetings in February and April as well as earlier this month to discuss its plans. “We have worked with the community extensively over the last seven months and feel like we have come up with a plan that has the support of a lot of the stakeholders in the area and addresses the needs that were expressed,” said Woody Galloway, the attorney representing the developers. “We are providing below-market rent for nonprofits to allow them to continue to serve the communities in the area at rates that are close to what they are paying but in a brand-new facility.”

During the Aug. 19 community meeting, Brandon Ellison of Taylor/Theus told attendees a new toll lane planned by the Georgia Department of Transportation (GDOT) would lead to the building’s demolition anyway. GDOT representatives said no decision has been made and the structure could likely remain.

U-Haul received approval for a zoning amendment that’ll allow it to convert a former Sears outlet to self-storage in Regina, Saskatchewan, Canada. The Broad Street structure houses about 200 vendors under the name Centennial Market, but the revenue generated isn’t enough to sustain the property. U-Haul has been a tenant at the site since last fall and is in the process of acquiring it. Though the self-storage project will displace the market vendors, the city council voted unanimously to change the zoning bylaw. The move was backed by the Regina Warehouse Business Improvement District and local chambers of commerce, which will assist the market find another location. U-Haul doesn’t expect to commence work on the conversion for at least a year while it works through construction plans and approvals.

U-Haul also purchased land in Denton, Texas, on which plans to build a 100,000-square-foot self-storage facility. It’ll be the company’s first location in the city. The property is on the east side of Texas State Highway Loop 288 and U.S. Highway 380. Once complete, the three-story facility will offer more than 700 indoor, climate-controlled units.

The historic Stone Tavern house on U.S. Route 20 in Sudbury, Mass., could become a part of a newly built self-storage facility. The planning board held a public hearing on Aug. 20 to discuss a proposal from Quentin Nowland for a 3-acre parcel at 554 Boston Post Road. Nowland wants to purchase the property from owner Anne Stone. The home, built in the mid-1700s, would be become the office for the facility, which would comprise 37,600 square feet. The remaining 57-acres of Stone Farm would remain unchanged. The town placed an agricultural preservation restriction on the 57 acres in 1984. Town officials and the design-review board expressed concerns about the facility’s design and size during a July 10 planning meeting.

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8/14/19 –The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is activity taking place in August 2019.

1-800-Self-Storage.com, which operates 13 facilities in Michigan, opened a new location at 3846 Rochester Road in Troy, Mich. The four-story facility at 3846 Rochester Road is the company’s second in Troy. The property will take part in the company’s Heart for the Community initiative, serving as a collection spot for used bikes that’ll be repaired and distributed to needy children. A third Troy facility is expected to open in late 2020.

74-16 Grand Ave. Storage LLC, an entity connected to self-storage developer and owner Storage Deluxe, plans to tear down a three-story building in Elmhurst, N.Y., and build a new storage facility in its place. Industrial real estate company Monitor Holding Corp. sold the 70,000-square-foot warehouse at 74-16 Grand Ave. for $16.5 million. Neil Dolgin, co-president of Kalmon Dolgin Affiliates, brokered the deal. Founded in 1998, Storage Deluxe has 65 projects completed and in development, totaling 7 million square feet.

U.K. self-storage operator Big Yellow Group PLC has two facilities under construction in London. The company received approval for its project in Uxbridge, West London, which is expected to open in early 2021. It’ll also begin construction on a 52,000-square-foot facility in March. Big Yellow operates 99 self-storage locations in the United Kingdom under the Big Yellow Self Storage and Armadillo Self Storage brand names, with most concentrated in Greater London and Southeast England. Its total portfolio comprises 5.7 million square feet.

Cowboy Self Storage opened in Stephenville, Texas. The facility at 1855 E. Washington offers 24-hour access, climate-controlled storage, moving and packing supplies, online billpay, and more. The Stephenville Chamber of Commerce recently hosted a ribbon-cutting ceremony to welcome the business, which is owned by Shawn Felton and Walt Harris.

A Hobby Lobby in Boardman, Ohio, is being converted to a self-storage facility that’ll be operated by Extra Space Storage and branded under its name. Renovations on the building on U.S. Route 224 have already begun. The facility could open next month. Headquartered in Salt Lake City, Extra Space owns or operates 1,696 self-storage properties nationwide and in Puerto Rico. The company’s properties comprise approximately 1.2 million units and 130 million square feet of rentable space.

Guardian Storage, which operates 26 self-storage facilities in Colorado and Pennsylvania, opened a new location in Aurora, Colo. The property at 3633 N Walden Circle comprises 655 units in three buildings. It includes a 1,750-square-foot office and two loading docks. Dallas-based ARCO/Murray Design Build handled the architectural design, permitting and construction.

McCarthy’s Removals Ltd. is building its first ground-up self-storage facility in York, England. The £3 million McCarthy’s Storage World on Water Lane will comprise 50,000 square feet. It’s being developed on the site of a former grain store, which was demolished in 2009. Construction is expected to be complete in March. Founded in 1968 as a moving company, McCarthy’s also operates self-storage facilities in Harrogate, Leeds and Wakefield, England.

The Monolith Group LLC, a commercial real estate development and investment firm, is set to build a self-storage facility at the intersection of Cave Creek Road and Greenway Parkway in Mesa, Ariz. The company, which is a preferred partner of self-storage real estate investment trust Extra Space Storage Inc., secured an eight-year, $7.2 million construction loan for the project. It worked with Tom Hartje and David Kotter of Integrity Capital on the financing. Founded in 2001, Monolith is vertically integrated with brokerage, construction and development arms under one roof.

The Birmingham, Ala., City Council approved a self-storage proposal from Orange Storage 280 LLC despite enacting a six-month moratorium on developments last month. The moratorium was intended to keep storage projects away from prime downtown sites but also included a “fast-track” appeals process that enables developers to appear directly in front of the council. The site targeted by developer Jason Price at 147 Resource Center Parkway is in a business district at the end of a dead-end street.

Principal RV & Self Storage in Battle Ground, Wash., completed phase two if its facility at 1710 S.W. 12th Ave. The property offers 645 vehicle-storage spaces ranging in size from 12-by-18 to 15-by-50. It’s part of Scotton Landing, a 22-acre mixed-use project being developed by Principal Properties LLC, the storage-facility owner. Once complete, the development will comprise 400,000 square feet of commercial, multi-family and retail space.

Saber Capital Management LLC proposed a four-story self-storage project at 800 Ethan Allen Highway in Ridgefield, Conn. The 3-acred property is across from Little Pond in an aquifer-protection zone, which raised some concerns during a recent hearing with the planning and zoning commission. Jack Kace, a member of the conservation commission, told planners that stored items such as lawn and pool chemicals could pose a hazard. Robert Jewell, an attorney representing Saber, noted the site had previously been approved for a contractor’s yard, which he argued would be a more significant environmental threat than self-storage. The hearing was continued to Sept. 10.

Security Self Storage opened in Solon, Ohio. The property at 30525 Aurora Road comprises 110,000 square feet, with 90,000 designated for interior storage and 20,000 for vehicle storage. It features an interior drive-through, 400 carpeted units, wine storage, geo-fencing and complimentary valet services. The facility was converted from the former Hunter Manufacturing building. Security is a third-generation, family-owned business. It recently sold its other self-storage holdings to focus on the Solon market, according to Norm Kotoch Jr., company president.

The Storage Barn opened a new location in Dover, N.H., its third in the state. Sitting on 27 acres, the facility at 385 6th St. is the largest storage in Strafford County, according to the source. The Greater Dover Chamber of Commerce recently hosted a ribbon-cutting ceremony to welcome the business, which is co-owned by Jessica Smith. The Storage Barn also operates facilities in Epping and Newington, N.H.

Real estate developer TTH Gate Point Meadows LLC intends to build 120,000 square feet of self-storage in Jacksonville, Fla. The facility would be built on 2.29 acres at 7782 Gate Parkway. The proposal is under review by the St. Johns River Water Management District. The developer is an affiliate of Columbia, S.C.-based Lady Street Builders LLC, which specializes on residential projects.

Michael Vann, owner of Vann Investments LLC, filed an application to rezone a tract of land in Hendersonville, N.C., to allow self-storage development. Vann plans to invest $1.5 million to build Signal Hill Mini Storage at the corner of Linda Vista Drive and Signal Hill Road. Once complete, it’ll contain 600 units. There were no objections to the project during a neighborhood compatibility hearing held earlier this month. The city planning board will review the project at its September meeting.

Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America and frequently recycles existing structures for its new locations, has acquired a former Kmart in Carlisle, Pa., with plans to convert it to a moving and storage center. The property at 1180 Walnut Bottom Road will offer indoor units. The company views the site as a superior location to its current Carlisle property at 1111 Harrisburg Pike, according to Chris Schaffer, marketing company president for the U-Haul Co. of Harrisburg. The Kmart closed in January. Established in 1945, U-Haul owns and manages more than 62.5 million square feet of storage space nationwide.

U-Haul is also converting a former military radar-system machine shop in Nashua, N.H., to self-storage. U-Haul Moving & Storage of North Nashua at 476 Amherst St. will soon offer moving supplies and truck rentals. The existing 19,517-square-foot building will be transformed into a two-story, 76,000-square-foot storage building containing more than 750 indoor, climate-controlled units.

Two self-storage projects are moving forward in Derry and Hudson, N.H. Andover, Mass.-based Yvon Cormier Construction Corp. is adding a third building to Derry Self Storage at 23 Ashleigh Drive in Derry. The two-story structure will replace an existing canopy. Once complete, it’ll comprise 25,000 square feet in 182 units. The facility was recently sold as part of a two-facility portfolio that included Seacoast Storage in North Hampton, N.H. The deal was brokered by Cowles M. “Monty” Spencer Jr., CEO and president of real estate firm The Storage Acquisition Group.

Plans for the Hudson project include demolishing an existing 4,990-square-foot concrete building and parking lot at 23 Roosevelt Ave. and constructing a three-story, 90,900-square-foot, storage facility in their place. Developer Jim Allard presented his plans for the former light manufacturing building to the planning board on July 24. He estimates construction costs will be $3.5 million. If approved, the project will begin this fall. During the meeting, board members suggested a few minor changes, including lowering light fixtures, and discussed signage details. The board will hold a public hearing to vote on the project on Aug. 14.

New Sources:
The Ridgefield Press, Route 7 Storage Facility Wins Approval
The Ridgefield Press, Route 7 Storage Facility Rouses Haviland Road Neighbors
Belmont Wicked Local, Historic Rte. 20 Barn in Sudbury to Be Taken Down for Self-Storage Facility
The Spokesman-Review, $5.8 Million Ministorage Development Planned for West Plains
Washington County Insider, My Choice Self Storage to Open New Storage Facility in Fall 2019 in West Bend
Washington County Insider, New Temperature and Humidity Controlled Storage Units Coming to Slinger
The Free Press, Part of Old Lowe's Building Slated for Self-Storage Units
The Business Times, Climate Unchanging at New Storage Facility
Brach’s Storage, Website
What Now Atlanta, SAFStor To Build Three-Story, 106,455-Square-Foot Storage Facility Near Atlantic Station
SAFStor Inc., Website
Denton Record-Chronicle, U-Haul Buys Land in Denton for Large Storage Facility
Reporter Newspapers, Sandy Springs Self-Storage Plan Could Displace Businesses and Church, Create Park and Nonprofit Site
Reporter Newspapers, Sandy Springs Self-Storage Plan Could Displace Businesses and Church, Create Park and Nonprofit Site
Reporter Newspapers, Self-storage Developer Claims Toll Lanes Project Will Displace Tenants Anyway; GDOT Denies It
Commercial Property Executive, Self Storage Development Underway in Orlando
Yahoo Finance, New Mixed-Use Development Coming to Downtown Orlando #EatShopStore
Port Stephens Examiner, New Facility for Self Storage
620 CKRM, City Council Passes Motions for U-Haul Facility, Ring Road Rail Crossing
CJME, Council Approves Airport Tax Exemption, Storage Facility in Old Sears Outlet
GlobeSt.com, New JV to Build CubeSmart Self-Storage Facility in Montville
South Jersey Observer, The Pennant Will Not Be Back; Self-Storage Facility Proposed for Entire Property
Tampa Bay Times, Tarpon Springs Denies Permit for Storage Facility
The Palm Beach Post, Lake Park Self-Storage 3-Story Facility Holds Grand Opening
Yahoo Finance, ezStorage Opens New Fairfax, VA Storage Facility
South Jersey Observer, Application to Construct Three-Story Self-Storage Facility at the Pennant Site Approved
Reporter Newspapers, Sandy Springs Council Approves One Storage Facility, Denies Another          

Previous Sources:
QNS, Industrial Real Estate Company Sells $16.5 Million Warehouse to Storage Developer in Elmhurst
Fosters.com, Storage Barn Welcomed to Dover Chamber
WHKP.com, City of Hendersonville Receives Application for New Mini-Storage Facility
Morningstar, Big Yellow Aiming to Have New London Store Open Within Two Years
WFMJ.com, Self-Storage Facility Replacing Old Hobby Lobby on 224
Stephenville Empire-Tribune, Cowboy Self Storage Cuts Ribbon
Union Leader, Self-Storage Projects Moving Forward in Hudson and Derry
The Columbian, Battle Ground Self-Storage Facility Completes Expansion
Digital Journal, The Storage Acquisition Group Announces the Sale of Derry Self Storage and Seacoast Storage
Yahoo Finance, U-Haul Expands Self-Storage Options in Nashua
Bdaily News, Latest £3m Self-Storage Unit in York Set to Create New Jobs for Local Area
Birmingham Business Journal, Birmingham City Council: 280 Self-Storage Facility Can Move Forward
Cleveland.com, Security Self Storage Brings State-of-the-Art to Aurora Road Landscape in Solon
Jax Daily Record, Baer’s Furniture, Wawa and a Self-Storage Center Are Taking Steps
Minister FM, Work Begin on £3M Storage Centre in York
The Ridgefield Press, Conservationist Raises Issue With Proposed Route 7 Storage Facility
The Sentinel, U-Haul Buys Former Kmart in South Middleton Township

Update 5/26/21 – Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Here’s an overview of additional activity happening in May 2021.

3 South Self Storage in Medina, Ohio, sold. Built in 2004, the facility at 7105 Wooster Pike comprises 39,503 net rentable square feet in 249 units. Subsequent, phased expansions were completed in 2006, 2016 and 2018. The property had physical occupancy of 84% at the time of sale. The seller was represented in the transaction by The Hatcher Group of Marcus & Millichap (M&M), a commercial real estate investment firm with offices throughout Canada and the United States.

A - Allright Mini Storage in Midland, Texas, sold to Watchman Properties, a Utah-based real estate investment and development firm. Built on 2.28 acres at 2215 W. Florida Ave., the facility comprises 30,572 square feet in 150 units. Watchman will rebrand the facility as Midland Lock Storage. The seller, a limited liability company (LLC), was represented in the transaction by Jon Danklefs and Arol Horkavy, investment specialists for M&M. The acquisition is Watchman’s second in Midland and fourth self-storage location in West Texas.

Pegasus Group, which owns and operates the Central Self-Storage brand, purchased a two-property portfolio in Austin, Texas. Opened in July 2018, All Stor South Congress at 8327 S. Congress Ave. contains a two-story building and eight single-story structures. It offers 525 units and four vehicle-storage spaces. Bee Cave at 14635 W. TX 71 comprises three buildings containing 645 units. Constructed in 2019, it was formerly managed by CubeSmart, a real estate investment trust (REIT) and management company. The seller, an affiliate of Endeavor Real Estate Group, was represented in the transaction by Steve Mellon and Brian Somoza, managing directors for JLL Capital Markets, a full-service global provider of capital solutions for real estate investors and occupiers. Pegasus was represented in-house by Phil Jones, director of acquisitions. Based in Walnut Creek, Calif., and founded in 1988, Pegasus owns 27 properties in nine states.

Aransas Pass Storage in Ingleside, Texas, sold to Merit Hill Capital LP, a New York-based real estate investment firm that acquires, owns and manages self-storage properties nationwide. The facility at 1500 Kenny Lane comprises 181,210 square feet in 502 units. The buyer and the seller were represented in the transaction by Dave Knobler, senior vice president of investments, and Charles “Chico” LeClaire, executive managing director of investments for M&M. Merit Hill operates 130 self-storage properties in 30 states.

Aztec Self Storage in Albuquerque, New Mexico, sold. The facility at 3201 Aztec Road N.E. comprises 32,800 net rentable square feet in 308 units. The property had physical occupancy of 99% at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Andover Properties LLC, which operates the Storage King USA brand, purchased Bagdad Mini Warehouses in Milton, Florida. Built in 2004 on nearly 8 acres, the facility at 4065 Garcon Point Road comprises 37,000 net rentable square feet in traditional self-storage plus 93 outdoor vehicle-storage spaces. Established in 2003, New-York based Andover acquires, develops and manages industrial and retail properties in addition to car washes and self-storage facilities. The firm owns and manages 76 storage properties in 16 states, comprising 7.1 million square feet across 54,900 units.

Freeway Mini Storage in Shelton, Washington, sold to a local private investor. The facility at 631 S.E. Craig Road comprises 62,684 net rentable square feet in 466 units. The buyer and the seller, a private investor, were represented by the Self Storage Advisory Group of CBRE Group Inc., a commercial real estate services and investment firm.

I 35 Self Storage in Cameron, Missouri, sold to a local investor. Built on 1.4 acres at 1800 S.E. Pence Road, the facility comprises 41,880 rentable square feet. The seller, a trust, was represented in the transaction by Larry Goldman of Goldman Investment Advisors, an affiliate of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

North Side Self Storage in Terre Haute, Indiana, sold. The 14-acre property at 2700 E. Park Ave. comprises 23,034 net rentable square feet in 218 units. The buyer and the seller were represented in the transaction by Gabriel Coe, Jonathan M. Fawley and Brett R. Hatcher, investment specialists with The Hatcher Group. Fellow broker Josh Caruana assisted.

Heitman LLC, a global real estate investment management firm, purchased Rent-A-Space in Shrewsbury, England. It’s the first acquisition in the expansion of Space Station, a U.K. storage brand acquired by a Heitman affiliate last year. Built in 2016 on Battlefield Road, the facility comprises 58,000 square feet. The seller was advised by JLL Capital Markets. Founded in 1966, Heitman manages more than $5 billion of self-storage assets.

Westport Properties, which operates the US Storage Centers brand, acquired Secure Store in Clermont, Florida, for $10 million from a private investor. Opened in 2019 on 5.3 acres, the split-level facility at 3050 U.S. Highway 27 comprises 74,188 square feet in 715 units. Westport represented itself in the transaction. Founded in 1985, US Storage Centers has more than 10 million rentable square feet under management.

Andover acquired a two-property Stash Self Storage portfolio in Tucson, Arizona. Together, the facilities at 4068 E. Fort Lowell Road and 5650 W. Coca Cola Place comprise more than 200,000 net rentable square feet in 1,750 units. The purchase increases Andover’s footprint in the city to five locations.

Storage King in Huntington, West Virginia, sold to a private buyer for $1.25 million. The facility at 5091 Oak Ridge Drive comprises 23,400 net rentable square feet in 148 units. The buyer and the seller, Oak Haven Investments LLC, were represented in the transaction by brokers Conor David and Tyler Watkins of NAI Ohio Equities, a Columbus, Ohio-based real estate firm that specializes in commercial properties.

Village Storage in Bluffton, South Carolina, sold. The property at 10 Coastal Drive comprises two adjacent parcels, a parking lot, retail building and a warehouse, all of which are leased to long-term tenants. The facility offers 156 self-storage units and vehicle-storage spaces. The seller was represented in the transaction by Dale C. Eisenman, president of Midcoast Properties Inc., a commercial real estate brokerage focused on self-storage in Alabama, the Carolinas and Georgia.

Woodstock Storage and Car Wash in Woodstock, Georgia, sold to an in-state LLC. Built on 1.87 acres at 3329 Trickum Road, the facility comprises 81 self-storage units and 17 vehicle-storage spaces. There’s also car wash on site with one automatic and five self-serve bays. The seller was represented in the transaction by Michael Morrison, a broker with Midcoast Properties.

Pelican Self Storage, which operates 34 locations in Denmark, Finland and Sweden, acquired a new property in Järfälla, a suburb of Stockholm. The facility comprises 75,347 square feet in 800 units. The operator was assisted in the transaction by Safa Mahmoudi, partner, and associates Catharina Danielsson and Andreas Sahlstedt for real estate firm Törngren Magnell & Partners. Pelican was founded in Denmark in 2009 by Nordic Real Estate Partners.

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5/13/21 – Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Here’s an overview of activity happening in May 2021.

Go Store It Self Storage, which operates 57 locations in eight states, acquired 53rd Street Secure Storage in Anderson, Ind. The facility at 1823 E. 53rd St. comprises 89,853 net rentable square feet in 600 units. The buyer and the seller, a private owner, were represented in the transaction by Patrick Kidder and Ken DeVaul, brokers with Meridian Storage Group, a self-storage brokerage and advisory firm.

Brodheadsville Self Storage in Brodheadsville, Pa., sold. Built in 2003 on 4.4 acres, the facility at 532 Jenna Drive comprises 38,550 net rentable square feet in 269 units and 24 vehicle-storage spaces. The property had physical occupancy of 97.6% at the time of sale. The seller, a limited liability company (LLC), was represented in the transaction by Gabriel Coe, Nathan Coe and Brett R. Hatcher, investment specialists for Marcus & Millichap (M&M), a commercial real estate investment services firm with offices throughout Canada and the United States. The brokers also secured the buyer.

Real estate firm Merit Hill Capital LP, which acquires, owns and manages self-storage properties nationwide, purchased C F & M Storage in Garden Ridge, Texas. The facility at 19834 FM 2252 comprises 49,560 square feet in 111 units and 50 vehicle-storage spaces. It’ll be managed by self-storage real estate investment trust (REIT) CubeSmart and branded under its name. The seller, a LLC, was represented in the transaction by Jon Danklefs, an investment specialist with M&M.

A two-property portfolio encompassing Crestwood Self Storage in Crestwood, Ill., and Sugar Land Self Storage in Richmond, Texas, sold to National Storage Affiliates Trust (NSAT), a self-storage REIT. Built on 5.4 acres at 4501 W. 125th St., the Crestwood facility comprises 746 units in six single-story structures that were built in two phases, in 1974 and 2017. The original buildings were renovated in 2018. Built on 8 acres in 1998 and expanded in 2003, the four-story Sugar Land property at 1728 Crabb River Road comprises 857 units. It also has an onsite apartment. The seller, a private-equity real estate fund advised by Crow Holdings Capital, was represented in the transaction by Steve Mellon and Brian Somoza, managing directors, and Dan Reynolds, senior director, of JLL Capital Markets, a full-service global provider of capital solutions for real estate investors and occupiers. Headquartered in Greenwood, Colo., NSAT has ownership interest in 844 storage facilities in 36 states and Puerto Rico.

HPI Real Estate Services & Investments acquired a facility in Hopkins, Texas, that’s managed and branded by Extra Space Storage Inc. The property at 10535 Mason Road comprises 93,630 net rentable square feet. HPI acquired the site in conjunction with another Extra Space facility in Naples, Fla. Headquartered in Austin, Texas, HPI is a full-service commercial real estate firm. It acquires and develops self-storage through its HPI Storage Funds. Extra Space is a self-storage REIT that owns or operates 1,969 properties in 40 states; Washington, D.C.; and Puerto Rico.

Another property managed by Extra Space, in North Arlington, N.J., sold to an LLC. The facility at 450 Belleville Turnpike comprises 71,160 square feet in 909 units. The buyer and the seller, also an LLC, were represented in the transaction by Gabriel Coe, Nathan Coe and Hatcher of M&M. Fellow M&M broker Brian Hosey assisted.

Minikahda Storage and Excelsior Tech Center, a mixed-use facility in Hopkins, Minn., sold to an undisclosed REIT. The multi-story building at 150 Tyler Ave. N. comprises 100,570 net rentable square feet of self-storage in 1,080 units and 86,699 rentable square feet of production and office space. Though the structure was originally built for industrial, office and limited-production use, a portion was converted to self-storage in 2003, with room to add another 30,000 square feet. The seller, a local LLC, was represented in the transaction by Chris Kampmeyer, investment associate; Charles “Chico” LeClaire, executive managing director of investments; and Adam Schlosser, senior vice president of investments for the LeClaire-Schlosser Group of M&M.

FollettUSA, which operates 32 properties under the Storage Star brand, acquired Quail Creek Self Storage in Laredo, Texas. The facility at 2110 Quail Creek Road comprises 64,900 net rentable square feet in 445 units. The seller was represented in the transaction by Danklefs. Founded in 1989 and based in California, FollettUSA is a boutique real estate firm that acquires, develops and manages residential, self-storage and other investment properties.

Richmond Self Storage in Augusta, Ga., sold to Phoenix-based U-Haul International Inc. The facility at 3455 Wrightsboro Road comprises 12,395 net rentable square feet in 156 units. The seller, a local investor, was represented in the transaction by Frank DeSalvo of Sands Investment Group. Established in 1945, U-Haul owns and manages more than 62.5 million square feet of storage space nationwide.

SS Mini Storage in Perris, Calif., sold. The facility at 509 N. D St. comprises 22,700 net square feet in 225 units. It also includes 26 outdoor vehicle-storage spaces and a two-bedroom apartment. The sellers, out-of-state LLCs, were represented in the transaction by Dean Keller, president of real estate brokerage firm Bancap Self Storage Group.

Andover Properties LLC, which operates the Storage King USA brand, purchased Santa Clarita Storage in Santa Clarita, Calif., for $28 million with its joint-venture partner, Angelo, Gordon & Co., a privately held investment adviser. The facility at 24314 The Old Road was built in 2019 and comprises 105,743 rentable square feet. The seller and developer, World Class Property Co., was represented in the transaction by Luke Elliott, Mike Mele and Greg Wells, investment specialists with Cushman & Wakefield, a provider of real estate services including consulting and appraisal, debt and equity financing, and sales and acquisitions.

Store Space Self Storage, which owns or manages 50 facilities in 15 states, purchased Skyline Self Storage in Cape Coral, Fla. The facility at 824 S.W. 42nd Terrace comprises 43,940 net rentable square feet 496 units. The buyer and the seller, a private developer, were represented in the transaction by Kidder.

SpareBox Storage acquired 13 self-storage properties in South Carolina and Texas from multiple sellers. Together, the facilities comprise about 330,000 net rentable square feet in 2,500 units. Launched last year, SpareBox operates 37 facilities across Florida, New Hampshire, South Carolina and Texas. Its portfolio comprises about 1.6 million net rentable square feet. The company is sponsored by Rizk Ventures LLC, an investment platform specializing in healthcare, real estate and technology. The company intends to create a national operating brand by amassing $1 billion in assets.

Westport Properties Inc. (WPI), which operates more than 130 self-storage facilities under the US Storage Centers brand, acquired a newly constructed property in Clermont, Fla. The split-level facility at 3050 U.S. Highway 27 comprises 74,188 square feet in 715 units. Founded in 1985, WPI is a fully integrated self-storage operator that acquires, develops and manages its own portfolio in addition to providing third-party management services.

New Sources:
Multi-Housing News, Westport Properties Expands Central Florida Portfolio
Property Funds World, Heitman Expands UK’s Oldest Private Self-Storage Platform
PR Urgent, Self Storage in Bluffton, SC, Sold
Global Legal Chronicle, Pelican Self Storage’s Purchase of a New Site in Järfälla
Multi-Housing News, Pegasus Group Buys Austin Self Storage Portfolio
REBusiness Online, JLL Negotiates Sale of 645-Unit Self-Storage Facility in Metro Austin
PR Urgent, Woodstock Storage and Car Wash, Woodstock, GA, Sold by Midcoast Properties Inc.

Previous Sources:
Benzinga, Inland Empire Self Storage Sold
Businesswire, SpareBox Storage Announces Acquisition of Stabilized Self Storage Properties in South Carolina and Texas
Commercial Observer, Angelo Gordon JV Comes to West Coast for Self-Storage
PRWeb, Westport Properties Acquires Self Storage Facility in Clermont, Florida
REBusiness Online, HPI Real Estate Acquires 745-Unit Self-Storage Facility in Metro Houston
REBusiness Online, Marcus & Millichap Arranges Sale of 269-Unit Self-Storage Facility in Brodheadsville, Pennsylvania
REjournals, Marcus & Millichap Sells 18,455-Square-Foot Self-Storage Center in Ohio