Author: Alison DeJaeger

Three Rivers Self Storage in Cleves, OH Sells

Three Rivers Self Storage, a 53,100 net rentable square foot facility in the Cincinnati, OH MSA, was recently sold. The Hatcher Group of Marcus & Millichap brokered the deal. The 279-unit facility was built in 1998 and expanded in 2000, 2003, 2005 and 2016. The property has great visibility along North Miami Road and the market has demonstrated 23% population growth since 2000. Additionally, the average household income within a five-mile radius consists of $105,405.

Construction of a New Self Storage Facility: SBA Loan Options

The SBA 504 loan product continues to be in very high demand.  With historically low 25-year fixed interest rates (2.81% in July) and low down payment options (10-15%), it has very quickly become our most popular loan product. As great as the 504 loan product is, it is limited to only financing fixed assets like real estate and equipment.  For a new construction project, eligible costs typically include items like land acquisition, construction improvements, contingency, soft costs, FF&E, interest carry and finance fees — essentially everything associated with designing and…

Tom de Jong

  Tom specializes in the sale, development and disposition of self storage and industrial assets throughout the U.S. and has completed transactions totaling in excess of $450 million worth of consideration with recent closings in Indianapolis, Milwaukee, San Diego, Sacramento, San Jose/Silicon Valley and Washington State. Tom is an SIOR designee. The SIOR designation stands unchallenged for excellence in the performance of real estate services and is universally recognized as the prerequisite in the selection of a commercial real estate broker, agent or consultant. Tom also has an MBA from…

Dominus Commercial Self Storage Team and Argus Broker Affiliates Chad Snyder and Tyler Trahant Transact Seven Self Storage Facilities in Q2

The Argus Self Storage Advisors North Texas Team, Chad Snyder and Tyler Trahant of Dominus Commercial, have successfully worked with buyers and owners in completing the purchase and sale of seven different self storage facility transactions in Q2 of 2021, bringing their half year total to 11 transactions. Chad and Tyler have both added value to ownership in valuation of their facilities in ensuring their facility transacts competitively in the market, as well as procuring facilities for buyers in the pursuit of both on and off market transactions. Ennis Self…

Janus International Announces New Service Offering, ‘Facilitate’

Janus International Group, Inc. (NYSE: JBI) (“Janus”), a leading global manufacturer and supplier of turn-key building solutions and new access control technologies for the self storage industry, today announced its newest service offering, Facilitate, to complement the company’s suite of self storage solutions. Led by industry veteran, David Alexander and a team of on-staff project managers, Facilitate provides holistic services for optimizing and maintaining self storage facilities while also offering a planned maintenance program to help offset the costs of repairs. We’re very excited to add Facilitate to our service…

Recent Closings: 7.7.2021 – 7.19.2021

Property: Premier Boat & R.V. Storage Location: St. Augustine, FL Brokers and Brokerage: Nathan and Gabriel Coe, Brett Hatcher, Meir Perlmutter and Ryan Nee of the Hatcher Group of Marcus & Millichap NRSF: 91,098 (26,280 covered parking/64,818 uncovered parking) Spaces: 204 Occupancy: 98.53% (Physical) Year Built: 2016 (Phase I) and 2018 (Phase II) Highlights: Multiple Offers Above List Price Closed Well Above List Price Class A Boat & RV Storage One of the Nicest Boat & RV Sites in Florida State of the Art Accommodations and Accessories Including New Large…

Andover Properties Closes on “Move It Storage” in Sherman, TX

Andover Properties, LLC (dba Storage King USA) has recently acquired Move It Storage in Sherman, TX marking its 10th acquisition in the Dallas-Fort Worth MSA and nineteenth in the state. Since bringing on a regional third-party manager one year ago, prior ownership has made great strides moving occupancy toward stabilization. With our hands-on institutional management, we plan to finish leasing up the facility and then move rates to the market.” The single-story property was built in 2006 and comprises 55,675 NRSF across 366 climate-controlled and drive-up units. The facility has…

Key Performance Indicators

While the self storage industry is growing, there is still room for facility owners to use data to improve facility performance. Before you can leverage your data, you need to know what it means and how to interpret it. Determining your Key Performance Indicators is your first step. Determining KPIs Looking at all your marketing data can be overwhelming and intimidating. Key Performance Indicators (KPIs) can help narrow your focus when looking at a large batch of data. These indicators can be anything from click-through rate to bounce rate. Looking…

Storable Wins Three ‘Best of Business’ Awards

Over the years, the businesses that formed Storable have learned the best way to innovate and constantly deliver the best products and services to the market. Every new product, every new capability and every investment seeks to fulfill the needs we hear from owners and operators like you. That is why these awards are more than bragging rights, they are validation from the market that Storable is listening and responding with products and services that do help self storage businesses grow. Storable won the following ISS Best of Business awards:…

Self Storage Industry Reaches Point of Over Capitalization

As unprecedented amounts of capital flow into the self storage industry, many investors are expressing concerns that the industry has reached a point of over capitalization. In other words, an overabundance of capital relative to the number of investment opportunities has turned capital deployment into a daunting task. As market competition intensifies, some investors are exploring smaller market strategies, which begs the question: is this a last-ditch effort or a logical capital deployment strategy? Self storage is fueled by necessity driven demand that transcends market size, geography, income, etc. The…