PTI Security Systems Announces David Shaw as Managing Director

PTI Security Systems, the global leader in access control technologies for the self storage industry, announced today that David Shaw will be named as managing director effective December 1, 2022. David Shaw joined PTI as the director of engineering in January 2018. As the director of engineering, he played a key role in advancing PTI’s cloud-based access control solution, StorLogix Cloud, and has led several initiatives to improve the technology enabling PTI’s hardware and software solutions. He has more than 20 years of executive experience in various engineering and information…

Five Ways Cloud Computing Benefits Self Storage Operations

Cloud computing creates new opportunities for self storage operations by relocating data and applications from on-premise servers to the cloud. Although specific features vary based on the cloud solution, there are several ways it can benefit your self storage business. 1. Enhanced control. The cloud improves facility management by extending the functionality of access control keypads, lighting, HVAC and other smart connected devices. The centralization of data expands the potential to monitor, control and command nearly any device in your network. 2. Lower costs. Cloud computing reduces costs by minimizing…

Storage Exchange Closes Over 245,000 NRSF in October 2022

Storage Exchange announces the closing of five self storage facility transactions in October 2022, comprising of over 245,000 NRSF. These properties are located in Kansas, Illinois, and Arkansas. McCall & Sunflower Self Storage: Located in Manhattan, KS, this two-property portfolio contains 118,390 rentable sq. ft. The two facilities are located 2.4 miles from each other and well-positioned off highly trafficked thoroughfares. Hunter Molnar, VP of Investment Sales for Storage Exchange, facilitated the sale of both properties. Ottawa Route 6 Storage: With room for expansion, this property has great access and…

Why User Engagement Is the New Key to Your Website’s Success

Do you know how many people come to your website every day? Or how many go on to make a reservation or become a lead? If you have set up Google Analytics on your website, you may already have these answers and you can also see how well your website is performing over time. However, Google is retiring their existing version of Google Analytics, in favor of Google Analytics 4 (GA4), on July 1, 2023. This change will have little to no impact on how your customers interact with your…

Grapevine, TX

Using the Market Discovery Tool from StorTrack Explorer, we located Grapevine, TX. This charming city thrives on travel and tourism however the supply metrics indicate an interesting market for storage. The square footage per capita in Grapevine is 7.44. The US national average is 7.98 square feet per capita and the Texas state average is 10.53 square feet per capita. Across all unit types, 75% of unit pricing is currently advertised online. Rate Trends The rates in this market have trended down in the last three months by -5.52%. The…

Former Family-Owned Grocery Store to Become Storage Facility

A building once home to a family-owned grocery is heading toward a new use, following a vote Tuesday from the Weirton Zoning Board of Appeals. Antonio Magnone went before the board with a request for a conditional use to establish an indoor self-storage facility at 3684 Pennsylvania Ave in Weirton, WV. “I want to do an indoor, climate-controlled storage,” Magnone explained, noting the building has “good bones,” although the parking lot has some issues. Board Chair Keith Huntzinger stated the building in question once was the home of DeCaria’s Market.…

Newmark Facilitates $170 Million Financing for Centerbridge Partners and Merit Hill Capital’s Self Storage Portfolio

Newmark Group, Inc. (Nasdaq: NMRK) (Newmark) has arranged the $170 million financing of a 33-asset, 1.8 million-square-foot national self storage portfolio on behalf of Centerbridge Partners and Merit Hill Capital. The portfolio is well-leased and located in strong primary markets and submarkets across 16 states. The properties are third-party managed by a combination of CubeSmart and Extra Space, broadly considered among the top operators in the self storage sector. Merit Hill Capital’s ability to source deals locally and bring them to institutional standards speaks to their deep knowledge of local…

Northern New Jersey Self Storage Asset Refinanced with $12 Million Loan

JLL Capital Markets announced today that it has arranged a $12 million refinancing for 10 Van Buren Avenue, an 830-unit, climate-controlled, self storage facility in the Northern New Jersey community of Westwood. JLL worked exclusively on behalf of the borrower, Maxim Realty Trust, to place the 10-year, fixed-rate loan with Lakeland Bank. Lakeland Bank, recognizing the strength of the asset and the sponsor, provided a competitive 10-year, fixed-rate permanent mortgage to take out the initial construction loan as the property reached stabilization.” The self storage facility was constructed in 2017…

How Cloud Computing Differs from On-Premise Technology

Historically, on-premise technology — software installed on servers owned by the company and located behind the company’s firewall — was the only way to access advanced programs and systems. The organization purchased a license or copy of the software and then manually updated the software when the provider released new versions. Another option for hosting critical programs involves using cloud computing technology. Cloud technology allows companies to host programs offsite through a third-party application. Although this difference may seem insignificant, utilizing a cloud-based solution has advantages over its on-premise counterpart.…

Growth Momentum for JLL’s Valuation Advisory Group Continues

JLL’s Valuation Advisory group announced today that it has expanded its team in Seattle, Washington, with five new hires: Aaron DeCollibus, MAI, Executive Vice President; Keith Lee, MAI, Executive Vice President; Andrew Chapman, Senior Vice President, Derek Mason, MAI, Senior Vice President and Jimmy Ryerson, Associate. The Seattle team will be responsible for driving growth, enhancing the customer experience and providing value to clients in the Pacific Northwest and the entire West Coast region across several in-demand property types including multi-housing, industrial, manufacturing housing, self storage and office. “One of…