Day: August 23, 2021

Now More Than Ever, Self Storage Facilities Are Evolving Toward a Remote-Management Model

In 2020, while most businesses were transitioning to remote work and unemployment was increasing, self-service facilities were tasked with finding ways to continue providing quality storage solutions. While unmanned storage facilities aren’t new, many facilities were implementing new modern business tools including contactless customer support, online services and self-service kiosks for the first time. The verdict is these automated features are here to stay. Sophisticated technology allows remote management and provides customers access to service beyond normal business hours. Customers have the ability to rent units, pay their bills, access…

Lone Tree, CO

Using the Market Discovery Data Tool from StorTrack’s MarketView Platform (MVP), we were able to find Lone Tree, a city in northern Douglas County, CO with only two facilities in the area and no known developments in the pipeline. Lone Tree’s low square footage per capita and limited supply could be worth evaluating further. To view additional metrics, visit the link labeled “Click Here to View Market Information“.

Recent Closings: 8.17.21 – 8.23.21

Property: Advance Self Storage Center Location: Hager City, WI Brokers and Brokerage: Brian Kelly, Brett Hatcher and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 61,560 Units: 376 Non-Climate Controlled | 62 Parking Spaces Occupancy: 98.4% Highlights: Below Market Rents Great Visibility Along US Hwy 63 High Daily Traffic Counts: 10,500 Cars per Day 40 Miles Outside of Downtown Minnesota Property: Extra Space Storage (Managed) Location: Surfside Beach, SC Closing Price: $9.7 Million Broker and Brokerage: James “Ashley” Compton of Colliers Buyer: Prime Group Holdings Seller: Ziff…

JLL Capital Markets Arranges $250 Million Acquisition Facility for SROA

JLL Capital Markets announced today that it has arranged a $250 million acquisition facility to finance the purchase of a 30-property, operating self storage portfolio from five separate sellers totaling 23,389 units across 11 states, including Florida, Georgia, Iowa, Indiana, Maryland, Michigan, Mississippi, Ohio, South Carolina, West Virginia and Wisconsin. The acquisition includes, but is not limited to, a 100-percent ownership stake of StayLock Storage, and will be the 40th storage company rebranded to Storage Rentals of America. JLL worked on behalf of the borrower, SROA Capital Fund VIII, to…