Day: September 2, 2024

Go Store It and StoreEase Tout Success of Virtual Management Partnership

Go Store It Self Storage and StoreEase announce outstanding operating results for the strategic partnership’s virtually managed self-storage facilities. In the second quarter, the 37 select sites saw a more than 9% increase in revenue and an 11.5% gain in net income compared to Q2 2023. Additionally, 2,643 new customers moved into virtually managed properties, with at least 60% interacting with a Go Store It Virtual Manager® before renting. The average size of the 37 facilities was 565 units. “Our results underscore the success of our collaboration with StoreEase,” said…

Go Store It Self Storage and Snapbox Self Storage Announce Major Merger, Creating a Leading Force in the Self Storage Industry

Go Store It Self Storage and Snapbox Self Storage announced that the companies have merged, combining their industry-leading platforms to form one of the largest private self-storage operators in the United States. Operating as Go Store It Self Storage, the merged entity will oversee more than 10 million square feet of storage space and 145 locations across 23 states. “The merger with Snapbox Self Storage represents a transformative step for both companies, providing the combined company with a more robust platform for growth and operational efficiency,” said Go Store It…

National Storage Affiliates Trust (NSA) with Solar Landscape Rolls Out Solar Panel Across its 8.5 Million Square Feet Rooftop Space in the US

National Storage Affiliates Trust (NSA), a major player in the self-storage industry, has partnered with community solar developer Solar Landscape to roll out 100 megawatts (MW) of solar capacity across 8.5 million square feet of NSA’s rooftop space. That’s enough solar panels to cover roughly 1,000 of NSA’s self-storage properties scattered across 42 states and Puerto Rico. Here’s why this matters: these rooftop solar installations won’t just power NSA’s facilities – they’re set to generate clean energy for nearby homes and businesses at a discount, thanks to the community solar…

A Self-Storage Complex Proposed at SoMa in San Francisco, CA

Previous plans for a project site at 1035 Howard Street in SoMa, San Francisco would have expanded the building size. Now, new plans have been filed to convert the industrial Art Deco building into a self-storage complex. The storage facility will rise four stories high. Embarcadero Capital Partners is the project developer. Lundberg Design is responsible for the project’s architecture. The project site spans an area of 28,000 square feet. The scope of work includes the conversion of approximately 17,549 gross square feet of existing laboratory and office space to…

U-Haul Officially Plans to Open a New Self Storage Facility in Lebanon, PA

U-Haul has completed and will officially open in September a 60,880-square-foot self-storage facility in Lebanon, PA. The site for the new building had been in use since the 1880s when it housed a rolling mill. Throughout the 20th century, the property served various purposes and was once a silk manufacturer and a weaving company up until the 1990s when the main manufacturing building caught fire. U-Haul had purchased the property in 2022 and began the self-storage development process through its Adaptive Reuse program. The three-story facility features 830 climate-controlled units…

StorageBlue Announces Opening of Their New Self-Storage Facility in Clifton, NJ

StorageBlue, the most dominant self-storage company in North Jersey and brainchild of E! Entertainment Television Founder Alan Mruvka, today announced the grand opening of their new self-storage facility, StorageBlue Clifton, located in and serving the City of Clifton, NJ. The Class A facility is strategically located at 550 Lexington Ave and offers 50,000 plus square feet of self-storage space, with units ranging from 4’x4′ to 10’x 20′. The facility sits on the heaviest trafficked main avenue in Clifton where 25,000 plus vehicles pass by daily. “Clifton and its surrounding cities…

Storage of America (SOA) Opens its New Self-Storage Facility in Goodman, MO

Storage of America (SOA) has facilities in six states, including Missouri, Indiana, Ohio, Illinois, Michigan, and Pennsylvania. Founded in 2003 by Robert and Joni Walker, SOA specializes in converting under-used or empty buildings into nice climate-controlled self-storage facilities. And on Saturday, Aug. 24, the Walkers held a grand opening for their newest facility — in Goodman. Joni Walker said SOA acquired the vacant Hunte Corporation building in Goodman and began remodeling. It has opened the first phase of the building comprising about 200 indoor, climate-controlled units ranging from units as…

Hernandez Development Opens its New Self-Storage Facility in Bolingbrook, IL

Hernandez Development has announced that its new self-storage facility is now open in Bolingbrook, according to a release from the business. The Bolingbrook CubeSmart Self-Storage is a Class A, 3-story facility that is 100,182 square feet, and offers 816 climate-controlled units, the business said. It is located at 509 E. Boughton Road. “The foresight and efficiency of the Mayor, Community Development Director, and the planning and zoning commission, along with the diverse culture and variety of industries in the area, have drawn us to the village of Bolingbrook,” said Hernandez…

Recent Transactions: 8.27.2024 – 9.02.2024

The recent self-storage transactions highlight the diverse market dynamics at play, reflecting both the consolidation trends within the industry and the strategic acquisition of properties in growth markets. Older facilities like those in Lakeland, FL, and Richmond, VA, are being repurposed or modernized to meet evolving consumer demands, while newer properties in areas like Canton, GA, and Columbus, MS, are expanding to capitalize on strong occupancy rates and growing demand for climate-controlled units. The involvement of major players like StorageMart and SmartStop Self Storage underscores the industry’s focus on acquiring…