Featured Broker: Thomas Gustafson

Tom Gustafson is the Senior Vice President | Principal of the Colliers Self Storage Group, a sales investment brokerage team that transacts nationally. He services owners and sellers by creating value to their portfolios and navigating the sales process through this higher interest rate environment. Tom and his team have transacted over $1 billion in self storage assets since the team’s formation in 2014. Let Tom assist you in understanding the best course of action for your assets by providing a free Market Valuation. Contact: Tom Gustafson 216-409-3186 Thomas.gustafson@colliers.com

Managing Deferred Maintenance and Keeping Up with Your Property

In this discussion, we’re covering cost-effective ways to tackle deferred maintenance and how to manage the day-to-day wear and tear on your facility. Nelson Hendrix and David Alexander of Janus International talk through the benefits of the R3 and Facilitate programs and how each can improve your property. Join us to learn the granular components of renewing the curb appeal of your property and keeping up with the improvements.

The Smart Entry and Facility Automation Experts at Janus International Group Announce an All-New, Hardwired Nokē™ Smart Lock

Janus International Group, Inc (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for self storage and other commercial and industrial sectors, today announced the addition of Nokē Contact, an on door, contact charged, hardwired smart locking solution, into their award-winning line of Nokē Smart Entry products. In addition to the all-new, hardwired smart locking solution, Nokē Contact, Janus’s Nokē Smart Entry platform also offers a high-tech, battery-powered external smart locking solution, known as Nokē ONE. Nokē Contact is an easily…

Self Storage Development Considerations in the Current Market

This video chat offers insights from John Bilton of Janus International, Matt Mawer of BETCO and Mitch Feldman of Feldman Companies. In addition to discussing construction timelines and site preparation, we’ll cover ways to stretch the dollar, investments that pay off in the long run and financing concerns. Join us for this educational conversation regarding how the development market has changed over the past few years and what to consider as a result.

SBA 504 Loan: Lower Down Payment AND More Favorable Rules for Seller Financing

Every year Bank Five Nine funds numerous transactions based on complex change-of-ownership transactions that include the purchase of real estate. In many cases, financing is provided in combination with the both the SBA 7(a) Program (intangible assets) and the SBA 504 Program (fixed assets). Seller financing is also common in these types of projects, but it is important to structure the deal right on the front end in order to allow for seller financing to count toward the required down payment and also ensure the payback terms are acceptable to…

Holladay Properties Converts Industrial Site in South Bend into Self Storage Facility

Holladay Properties is converting an industrial site at 850 Marietta St. in South Bend into a 39,990-square-foot self storage facility. Store Space Self Storage will manage the facility, which is slated to open in the second quarter. The property will feature four buildings with 183 climate-controlled units and 165 drive-up units. Store Space will provide day-to-day operations, call center support, marketing, branding and technology solutions. Holladay expects to partner with Store Space on additional locations. Source

Metro Storage Delivers Tampa-Area Facility

Metro Storage has opened a new self storage facility in Spring Hill, Fla. The 675-unit property is the company’s latest addition to its Florida portfolio. The property includes a three-story building with climate-controlled units and two single-story buildings with standard units and drive-up access. The unit size ranges between 25 to 600 square feet. The facility also offers a total of 114 parking units, divided into 83 covered RV and boat parking spots with electrical hook-ups and 31 car parking spaces. On-site amenities include 24-hour video surveillance, motion-sensor lighting, locks,…

Wentworth Property Sells 18-Property Self Storage Portfolio for $266.2 Million

Phoenix-based Wentworth Property Co., in a joint venture with an institutional equity investor, has completed the disposition of a portfolio of 18 self storage properties across Arizona, Texas, Colorado, Utah and Idaho. A New York-based investment management company acquired the portfolio for $266.2 million. In total, the portfolio includes 9,600 storage units and 1.3 million square feet of rentable space. Six properties are in the greater Phoenix area, four facilities are in the Dallas/Fort Worth area, two assets are in El Paso, Texas, three properties are in Salt Lake City,…

Public Storage Pressures Rival Life Storage with $11 Billion Bid

After several failed attempts to push for a deal in private, Public Storage is taking its case to acquire one of its top rivals straight to shareholders. Public Storage made an $11 billion unsolicited bid to acquire Life Storage, the Wall Street Journal reported. The all-stock proposal was cemented with a letter sent to Life Storage management on Sunday. The proposal is worth roughly $129 per share. That’s a premium over Life Storage’s stock price, which closed at $110.58 before the weekend. Public Storage’s push to acquire its rival started…

2022 Closing Highlights from Bank Five Nine

As the second largest SBA 504 lender, Bank Five Nine can offer aggressively low rates for your self storage opportunity. Bank Five Nine’s 2022 closing highlights include: Deal Size: $14 Million LTC: 90% Financing Location: Utah Lender: Nick Collins Program: Combination of SBA 504 and SBA 7a for interest carry and start-up costs Details: 118,200 NRSF New self storage development Deal Size: $4 Million LTC: 85% Financing Location: Tennessee Lender: Nick Collins Program: Combination of SBA 504 and SBA 7a for interest carry and start-up costs Details: 36,800 NRSF New self…