Day: October 12, 2021

Featured Broker: Bill Brownfield

Bill Brownfield has been in the commercial real estate industry since 1978 and is a designated CRE (Counselor of Real Estate) and a CCIM (Certified Commercial Investment Member). Since 1998, he has handled company and client property purchases and dispositions valued in excess of $1 billion (self storage, office and retail). Bill’s focus shifted to the self storage industry in 2008 and in both 2015 and 2013 he was awarded the national Top Producer Award for Argus Self Storage Advisors, an affiliation of approximately 40 self storage brokerage firms. Bill…

Featured Broker: Faith Pate

Faith Pate is a key member of the Argus Self Storage Sales Advisors’ Central & South Texas team, a partnership between Brownfield & Associates, LLC and MLB Commercial Real Estate. The partnership is dedicated to providing outstanding service to self storage owners and investors. Faith focuses on various property investment types including self storage, land and private equity. She works closely with owners (sellers and buyers), private equity firms and their related portfolio companies. Faith has experience in sale leasebacks, FASB compliance, lease administration and reconciliations, all of which help…

How Safe Are Your Access Control Solutions? Part Two

In the current climate, operating a successful self storage operation requires a Herculean effort. There’s no end to the tasks owners and operators face every day, from sales and marketing to site maintenance and security. It’s essential to not cut corners when it comes to the safety of your security system, but you don’t have to be a technology expert — start by following a few best practices: Vet both the solution and the provider. In addition to vetting the solution, evaluate the solution provider. Look for a technology vendor…

Simply Self Storage Accelerates Portfolio Growth with Strategic Acquisition of Eight Texas Properties

Simply Self Storage (the “Company”), a premier provider of storage solutions for a wide range of customer needs, today announced the acquisition of a seven-property self storage portfolio in Houston and a self storage property in Dallas. Financial terms of these transactions were not disclosed. Houston and Dallas represent two of the most attractive submarkets in Texas and we expect each will continue to benefit from strong consumer demand.” Simply Self Storage owns and operates a portfolio of approximately 80,169 units, encompassing more than 11 million net rentable square feet in 23 states. Its…

Davis Co. Presses Ahead with 17-Story Chelsea Self Storage Facility

The Davis Companies (TDC) announced that, following its acquisition of 155 and 165 West 29th Street in Chelsea, it has completed demolition of the existing buildings on the site and plans to construct a 17-story self storage facility. The Davis Companies acquired two adjacent industrial properties at 155 & 165 West 29th Street from the Moshel and Garfinkel families for a total of $62.5 million earlier this year. Over the summer, construction financing totaling $84 million was provided by Santander Bank, N.A. and United Overseas Bank. Construction is anticipated to be…

The REIT M & A Boom Continues with Record-Breaking Year

Outperforming strong expectations and driven both by strategic and private capital, 2021 has already been a record year for REIT M&A, which hit $108 billion in transaction volume as of September 30, 2021. JLL’s Capital Markets M&A and Corporate Advisory group’s new M&A and Strategic Transactions Monitor report details the positive themes in the public capital markets space contributing to this unprecedented M&A surge. There is a significant demand and supply imbalance in the alternative asset classes, with high-quality platforms and assets generating strong interest from a wide array of investors.” REITs have shown strong earnings…

Recent Closings: 10.5.21 – 10.11.21

Property: All American Self Storage Location: Evansville, IN Brokers and Brokerage: Rob Schick and Neal Gussis of Argus Self Storage Advisors NRSF: 66,010 Unit Count: 420 Acreage: 5.0 Room for Expansion: Yes Highlights: Closed in 30 Days 20,380 Square Feet of Climate-Controlled Units 20 Canopy Covered RV Spaces Five Buildings Constructed of Masonry and Steel Fully Fenced with Electronic Lift Gate Property: Extra Space (Managed) Location: Oahu, HI Buyer: InSite Property Group NRSF: 44,390 Year Built: 2017 Occupancy: 99.4% (Physical) Highlights: 100,000+ People within Three Miles Median Income of $97,000…

Software Support: Your First Line of Defense

Sometimes it can be daunting to know who to contact when something goes wrong. Support should be your first line of defense when something stops working and functionality is impacted. Whether it’s a gate not communicating with the software or a payment portal that is failing multiple payments, any loss of functionality can point to problems with back-end settings that you’ll likely need help with. Each software company has a different style of handling inquiries. Some primarily use email and phone calls to communicate with facilities. Some have an online…