Day: June 3, 2024

Argus Self Storage Advisors Welcomes New Broker Affiliate for The State Of Michigan

Argus Self Storage Advisors is pleased to welcome Kevin Friedman as its Broker Affiliate representative for the state of Michigan. Kevin is the owner and principal broker of Hayes Ventures LLC in Bloomfield Hills, MI and has been transacting in the self-storage sector exclusively for over a decade. He specializes in the acquisition, disposition, and valuation of self-storage properties of all types and sizes. Kevin is dedicated to delivering exceptional value and service to his clients while collaborating with them to achieve their sales and acquisition goals. Before forming Hayes…

Reduce Down Payments and Overcome Appraisal Shortfalls with SBA 504

With the Small Business Administration (SBA) 504 loan program, the property only needs to appraise at 90% of the total costs. This buffer can overcome regulatory loan-to-value restrictions for your financial institution. Consider this case study: A prospect wants to buy a $1,000,000 building. You propose lending 80%, or $800,000. However, the appraisal comes back at $900,000. Using the 80% LTV limit, your loan would be restricted to $720,000, requiring the prospect to bring an additional $80,000 in cash, potentially killing the deal. The SBA 504 program allows for a…

Featured Broker: Kevin Friedman

Kevin is the owner and principal broker of Hayes Ventures LLC in Bloomfield Hills, MI and has been transacting in the self-storage sector exclusively for over a decade. He specializes in the acquisition, disposition, and valuation of self-storage properties of all types and sizes. Kevin is dedicated to delivering exceptional value and service to his clients while collaborating with them to achieve their sales and acquisition goals. Before forming Hayes Ventures, he most recently served as the Vice President of Acquisitions for SmartStop Self Storage REIT, where he sourced and…

U-Haul Announces Plans for First Company Store in Clarkdale, AZ

U-Haul® is unveiling plans for a new retail, moving and self-storage center off State Route 89A and Pine Shadows Boulevard in Clarkdale. U-Haul Moving & Storage of Clarkdale is scheduled for completion by summer 2026. The 9.18-acre property was acquired May 24 and will be the first U-Haul-owned and -operated center in Clarkdale. Plans call for a three-story building with a spacious retail showroom and more than 700 indoor, climate-controlled self-storage units with high-tech security features at affordable price points. Customers will also have access to truck and trailer sharing,…

Sentimental Storage Now Open in Athens, GA

Sentimental Self Storage is now open for business and owners held a ribbon cutting on Wednesday to kick things off at the location at 1560 Dr. Martin Luther King Pkwy. Owners Sherry and Dr. Eric Delay and Tom and Donna Shampine welcomed Morristown Area Chamber of Commerce ambassadors and other guests to the location that is across from the new Lincoln Heights Elementary building site. “We saw a need for storage,” Tom said. “We wanted to step up and offer our community a good service. We’ve tried to build a…

Developer Proposes Self-Storage, Retail and Restaurants at Former Kmart in Rockford, IL

A Rockford developer looking to revive the property once anchored by a Kmart at the corner of State Street and Mulford Road has so far been unable to reach a redevelopment agreement with city officials. Except for a U-Haul store selling moving supplies and boxes, the sprawling property has remained vacant since the Kmart closed in 2019. Orput Companies Inc. CEO Gregory Orput is asking Rockford for special use permits needed to turn the 105,939-square-foot building into a self-storage facility with outdoor truck parking. He would also build at least…

Stuf Storage Opens a Self-Storage Facility in Brooklyn, NY

Stuf Storage has opened a 180-unit self-storage facility in Brooklyn. The facility is located at 485 Clermont Ave. at the nexus of the Clinton Hill and Prospect Heights neighborhoods and consists of 15,000 gross square feet. Units range in size from 12 square feet to 240 square feet. Locally based developer RXR owns the property. Stuf Storage now operates about 30 facilities across seven states. Source

Safe Harbor Self-Storage Opens in Parksville, NY

Safe Harbor Catskills, with the help of the Sullivan County Chamber of Commerce (SCCC), held its official ribbon-cutting ceremony. The event was part of a larger “Salute to Service” Live Music Festival. Attendees to the free festival event were able to take in live musical performances, indulge in delicious food options from local vendors, and see a plentiful amount of shopping opportunities from local vendors. Safe Harbor is a premier storage facility situated on the outskirts of Parksville, NY, with an Old Hickory Shed Dealer location as well. Their facility…

Recent Transactions: 5.27.2024 – 6.03.2024

Property: Lucky 7 Storage Location: Cambridge, MN Brokers and Brokerage: Nathan Gottlieb, Alex Ihrke, Matt Haugen and Tom Flannigan – Minnesota, Iowa and North and South Dakota Broker Affiliates for Argus Self Storage Advisors NRSF: 19,326 (plus 500 square foot office) Unit Count: 97 units (plus 30 spaces for outdoor parking and storage)     Property: Mobile Storage Location: Mobile, AL Address: 2580 Schillinger Rd S, Mobile, Alabama 36695 Brokers and Brokerage: Frank DeSalvo & David Perlleshi at Franklin Street NRSF: 61,325 Unit Count: 540 units Seller Testimonial: “The recent…