Day: January 27, 2025

White Label Storage Launches Solution for Delinquent Payments

Managing accounts receivable is a critical aspect of self-storage operations. When tenants fall behind on payments, facilities face increasing risks of revenue loss and the time-consuming and unprofitable auction process. But following up with delinquent tenants is also time-consuming and costly for owners. Building emails, sending them to the right people, and resolving each tenant’s balance keep operators from focusing on other parts of the business. White Label Storage is always working on new ways to help self-storage facilities run more efficiently and profitably, so they have launched a solution…

A New Self-Storage Facility Will be Opening Along Riverside Drive in Memphis, TN

Riverside Drive has had some form of construction happening on it for the better half of the last 24 months. Now, a new storage facility will be opening in March along Riverside. Developer Trip Trezevant is working to renovate the former U.S. Steel Building at 666 Riverside Drive (next to the Exxon gas station) into a storage facility and a commercial retail node. The 100,000-square-foot building will be converted into a 350-unit storage facility. Additionally, a 6,000-square-foot retail bay will be added to the 2-acre property. Trezevant said the first…

Featured Broker: Logan Foster

Logan Foster is an Associate on the Investment Sales Team at Versal, based in the Austin, Texas office. Specializing exclusively in self-storage, she has successfully facilitated the acquisition and disposition of assets for a range of clients, from private investors to publicly traded REITs, across most regions of the United States. Logan joined Versal as a licensed real estate professional in 2022 and has since developed substantial expertise in acquisitions and dispositions, self-storage evaluation and consulting services, and financial analysis. She values the relationships she has built within the industry…

Recent Transactions: 01.21.2025 – 01.27.2025

The latest self-storage transactions reflect varied investment strategies across diverse markets, focusing on growth potential and local demand dynamics. These deals highlight operators’ confidence in self-storage as a resilient asset class, from acquisitions in growing secondary markets to new developments in under-supplied areas. Investments like these highlight a focused strategy for capturing demand by leveraging factors such as automated features, locations near universities, or meeting the needs of suburban communities, all while addressing market-specific opportunities and positioning for immediate and long-term growth.     Property: 24-7 Automated Storage Location: Henderson,…

A New Self Storage Opens with Professional Management in Forsyth, GA

Local owners of Forsyth Self Storage announce the opening of the self-storage facility at 76 Mize Street Forsyth, GA 31029. This facility, managed by Absolute Storage Management (Absolute), features 165 units totaling 57,700 rentable square feet. It offers safe and secure climate-controlled, non-climate and parking unit options to the local communities of Forsyth, Juliette, High Falls, Bolingbroke, Culloden, Lutherville, and Bibb County. Perez Leasing Inc. has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services. The facility is officially under Absolute’s management as of January 23, 2025.…

Joseph’s Catering Transforms into a Self Storage Facility in Horsham, PA

Work has begun on transforming the longtime business into a self-storage facility on Horsham Road. The former Joseph’s Catering property on Horsham Road is beginning its transformation into a self-storage facility. Construction has begun to tear down the building and make way for a self-storage facility at 901 Horsham Rd. next to Hatboro-Horsham High School. The three-story, 120,000-square-foot building, which sits on 5.68 acres, will be for personal storage with businesses prohibited from storing equipment and such. Street lamps will also be added along Horsham Road from Babylon Road to…

Highline Storage Partners Launches Strategic Joint Venture with Heitman to Invest in Self-Storage Development and Acquisitions Throughout The United States

Highline’s joint venture with Heitman represents a unique and powerful new investment partnership in the self-storage industry,” said Key Foster, CEO of Highline Storage Partners. “We expect to accelerate our already active pace of investment significantly in the coming years.” Highline Storage Partners (“Highline”), an affiliate of Highline Real Estate Partners, announced today the formation of a new strategic joint venture with Heitman and an institutional investor advised by Heitman to invest in self-storage development and acquisitions throughout the United States. The partnership was seeded with a recapitalization of five…

U-Haul Opens New Climate-Controlled Self Storage in Marietta, GA

U-Haul opened a new 694-room indoor self-storage facility last week in Marietta to better meet the demand of Cobb County residents. U-Haul Storage at Canton Road at 858 Piedmont Road sits on 2.2 acres and is located next door to parent store U-Haul Moving & Storage at Canton Road (2800 Canton Road #2000), where customers can find truck and trailer sharing, hitch installation and towing accessories, propane refills, and moving supplies inside a retail showroom. The new two-story facility holds nearly 700 indoor climate-controlled storage units with high-end security features…

Extra Space Storage Inc. Has Acquired Yellow Door Storage – Northgate in Denton, TX

Extra Space Storage Inc. has acquired Yellow Door Storage – Northgate, a 520-unit self storage facility in Denton, Texas, from NorthBridge Realty Holdings. JLL represented the seller and procured the buyer. The self storage facility is currently subject to a $5.3 million construction loan originated by Washington Federal Bank in 2021. JLL Capital Markets Managing Directors Steve Mellon and Brian Somoza, together with Directors Adam Roossien and Matthew Wheeler, worked on behalf of the NorthBridge in securing the deal. Yellow Door Storage – Northgate, up close The 65,600-rentable-square-foot facility came…