Day: October 21, 2024

SBA 504 Refinance Rule Changes

The SBA’s rule changes, effective November 15, 2024, will help loan clients in a number of ways, including making it easier to refinance debt. Also, the new rule change broadens the way businesses can use funds through refinancing, especially when they’re looking to expand. 1) For Stand-Alone Debt Refinance (Without Expansion): The loan-to-value limit is now up to 90% in all cases including requests for ‘cash out’ for other business expenses and special use properties. In addition, the 20% LTV cap on cash out for other business expenses is GONE!…

Storelocal Storage of McClellan Park, CA, Migrates its Operations to the Tenant, Inc., Self Storage Technology Platform

Storelocal Storage McClellan Park is a state-of-the-art storage facility that serves the North Highlands, Arden-Arcade, Rio Linda, Antelope, and Citrus Heights areas. To provide the best user experience to their tenants, and to streamline operational efficiencies, they have migrated their facility to Tenant, Inc.’s complete technology platform offering, including the Hummingbird Property Management Software platform. Tenant, Inc.’s suite of technology products is purpose-built specifically for the self-storage industry, allowing storage owners to provide a significantly improved user rental experience, advanced website security, and convenient, secure payment processing. “Storelocal in McClellan…

Self Storage Opens With Professional Management in Niceville, FL

Local owners of The Storage Place proudly announce the acquisition of the self-storage facility at 800 White Point Road Niceville, FL 32578. This facility, being managed by Absolute Storage Management (Absolute), features 493 units totaling 65,414 rentable square feet. It offers safe and secure climate-controlled and non-climate unit options to the local communities of Valparaiso, Destin and Niceville. NFO Group, LLC has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services, and the facility is officially under Absolute’s management as of August 9, 2024. Residents and businesses…

Self Storage Opens With Professional Management in Douglasville, GA

Local owners of Silo Self Storage proudly announce the opening of the self-storage facility at 9081 Georgia 5 Douglasville, GA 30134. This facility, being managed by Absolute Storage Management (Absolute), features 451 units totaling 63,525 rentable square feet. It offers safe and secure climate-controlled unit options to the local communities of Marietta, Town Center and Douglasville. Douglasville Self Storage LLC has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services, and the facility is officially under Absolute’s management as of October 7, 2024. Residents and businesses in…

Featured Broker: Ashley Compton

Ashley Compton is a Principal and Vice Chairman at Colliers and also a leader of the Colliers Self Storage group which specializes in advising clients in the disposition, acquisition and recapitalization of self-storage facilities throughout the United States. His single mission for each client is to utilize his knowledge and experience to exceed expectations. He develops a customized marketing plan for each client to ensure maximum sales proceeds while minimizing exposure to risk by reducing the transaction timeline. Integrity, ethics and experience guide every interaction and define his service approach…

Recent Transactions: 10.15.2024 – 10.21.2024

The self-storage transactions from October 15-21 highlight diverse market dynamics, with buyers targeting regions offering unique advantages. The deals in Glenmont and Corning, New York reflect demand in smaller, less saturated Northeast markets where stable local needs make properties appealing. In Dallas, Texas, the acquisition of Absolute Self Storage, underscores the city’s growth, driven by a strong economy and expanding population. Meanwhile, the sale of a five-property portfolio in Michigan and Wisconsin totaling 73,358 square feet at $3.9 million highlights the attractiveness of the Midwest, where lower acquisition costs and…