Day: November 10, 2021

Featured Broker: Jon Knudsen

Jon currently serves as director in the Brokerage & Advisory Division at Hanna Langholz Wilson Ellis, based in downtown Pittsburgh PA. He joined in 2016 to focus on landlord agency representation and consulting throughout the Pittsburgh MSA and select markets throughout PA, NY and OH. Prior to joining Hanna Langholz Wilson Ellis, Jon was part of the Manhattan office of SRS Real Estate Partners, North America’s largest full service real estate focused on retail and hospitality. At SRS Jon focused on landlord agency and consulting throughout the New York Tri-State…

Recent Closings: 11.2.21 – 11.8.21

Property: Alta Vista Storage Location: League City, TX Broker and Brokerage: Dave Knobler of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 34,100 Unit Count: 358 Climate Controlled Acreage: 8.4 Room for Expansion: 3.7 Acres Highlights: Attractive Facade Vertical Pivot Gated Entry with Digital Keypad Full-Service On-Site Management Office 24/7 Video Surveillance Concrete Driveways Roll-Up Doors Property: Cumberland Storage Location: Tyler, TX Broker and Brokerage: Dave Knobler and Charles “Chico” LeClaire of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 61,713 Unit Count: 539 Climate Controlled Occupancy: 100% Year Built:…

Third-Party Management Fuels Acquisition Activity at Life Storage

Third-party management is turning out to be an acquisition goldmine for Life Storage. Joe Saffire, CEO of the Williamsville, NY-based self storage REIT, said roughly one-third of the 75 facilities purchased so far this year were part of Life Storage’s third-party management platform. Saffire called the company’s third-party platform a “robust acquisition pipeline.” “The hard work of our acquisitions and third-party management teams over the past several years executing on our relationship-based strategy to be well positioned when opportunities become available is clearly paying off,” Saffire said in a Nov.…

National Storage Affiliates Trust Reports Third Quarter 2021 Results

National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA) today reported the Company’s third quarter 2021 results. Third Quarter 2021 Highlights Reported net income of $40.7 million for the third quarter of 2021, an increase of 90.2% compared to the third quarter of 2020. Reported diluted earnings per share of $0.26 for the third quarter of 2021 compared to $0.15 for the third quarter of 2020. Reported core funds from operations (“Core FFO”) of $67.5 million, or $0.57 per share for the third quarter of 2021, an increase of…

Investor Demand for Self Storage Soars – What Does This Mean for the Sector?

The self storage industry has transformed over the last decade with acquisition volume increasing by more than 35x since 2011 – annual acquisition volume in 2011 totaled approximately $508 million and is expected to reach $18 billion for the year 2021. The resiliency, stable cash flow and low CapEx requirements continue to draw real estate investors to self storage, but more than anything, investors have recognized its relative value versus other real estate asset classes. As stabilized cap rates in the multifamily and industrial sectors compress to historic lows (below…