Author: Alison DeJaeger

Self Storage Is on Fire: Is It Crazy to Buy or Build? Probably.

If you talk to anyone in the storage industry, they will tell you that they have never seen a market as hot as this one. Existing facilities are full, rents are rising, cap rates are at historic lows and every supplier is so inundated with orders that they cannot keep up. The word ‘unprecedented’ has been used an unprecedented number of times in the last 16 months, but there is no better word to describe the self storage market – what is happening right now is unprecedented. The best advice…

Storage World, Jonesboro, Georgia, Sold

Midcoast Properties Inc. announces the recent sale of Storage World, located at 9887 Tara Blvd, Jonesboro, Georgia.  Midcoast Properties represented the Seller, with Dale C. Eisenman, CCIM, as lead broker.  The facility was sold to a National REIT. The facility, situated on 4.24 +/- acres, with 54,650 rentable square feet, has 421 storage units, comprised of both climate controlled and non-climate, drive-up and interior units, as well as boat and RV parking.  Amenities include surveillance cameras, an alarm system, ample lighting, personalized keypad entry and a rental office with moving…

Just Closed: SouthPoint Storage

The Williams Storage Group is pleased to announce the recent closing of Southpoint Storage in Terre Haute, Indiana. Marla Čolić, Senior Associate with Marcus & Millichap’s St. Louis office, had the exclusive listing to market the property on behalf of the Seller, a local owner/operator. SouthPoint Storage is an immaculately maintained storage facility in the growing Terre Haute, IN market.” According to Čolić, who also procured the buyer, “SouthPoint Storage is an immaculately maintained storage facility in the growing Terre Haute, IN market. The seller is divesting into a new…

Andover Properties Closes on CubeSmart Self Storage in Phoenix, AZ

Andover Properties, LLC (dba Storage King USA) has recently acquired CubeSmart Self Storage in Phoenix, AZ, marking its third acquisition in the Phoenix MSA and eighth in the state. This property has had rapid lease-up growth to date given its high-end construction quality and prime location at a busy intersection. Our business plan is to stabilize occupancy and bring rates up to the market.” The 72,388 NRSF multi-story property, which opened in September 2018, is 100% climate controlled. The property is well situated at the intersection of W Glendale Ave…

Four Ways COVID-19 Changed the Self Storage Industry

The COVID-19 pandemic changed the way we live and work and the self storage industry has been no exception. As communities across the nation emerge from the pandemic, it’s becoming clear that many of the changes within our industry are here to stay, including: Contactless rentals — E-commerce and online purchasing kicked into high gear during the pandemic. In self storage, tenants embraced contactless rentals and digital payment routines and now expect the ability to complete self storage transactions online. In the future, owners and operators need to prioritize streamlined…

Andover Properties Closes on “Arcadia Storage” in Milton, FL

Andover Properties, LLC (dba Storage King USA) has recently acquired Arcadia Storage in Milton, FL marking its sixth acquisition in the greater Pensacola area and 26th facility in the state. The property is 52,400 NRSF with a mix of climate-controlled units and drive-up units, in addition to commercial units and outdoor parking spaces. The property, built in 1993 and further expanded in 2004, sits on 9.8 acres with frontage along Hwy 90, which is a four-lane road with over 32,000 vehicles traversing it daily. “This facility is an excellent add-on…

Self Storage in Newnan, GA Sold By Midcoast Properties, Inc.

Midcoast Properties, Inc. is pleased to announce the sale of Attics Storage, located in Newnan, GA.   Michael Morrison of Midcoast Properties, Inc., represented the seller.  The facility was sold to a regional buyer. Attics Storage is situated on 2.11 +/- acres consisting of 248 standard and climate self storage units as well as parking and mailboxes.   Amenities include perimeter fencing, security cameras, lighting, and electronic gates. This facility is located at 554 Corinth Rd., just north of I-85. Newnan is 40 miles southwest of Atlanta. The Self Storage market has…

Self Storage Facility in High-Growth Austin Market Sells

JLL Capital Markets announced today that it has closed the sale of Springwood Self Storage, a 426-unit, Class A self storage facility in the northern part of Austin, Texas. JLL worked on behalf of the seller, Springwood Self Storage LLC. Wasatch Storage Partners purchased the asset. Springwood Self Storage comprises one three-story building that opened in 2017. Constructed to Class A standards, the facility contains modern amenities in its three stories, including all climate-controlled units, elevator access, retail-oriented customer service office and security features. The area surrounding Springwood Self Storage…

Fortress Self Storage Uses Nokē Smart Entry to Stand Out in a Sea of New Development

Self-Storage Consulting Group, based out of Mesa, Arizona, saw the opportunity for self storage in a growing area centered on new development in Brighton, Colorado. With a Top Golf, Home Depot and Costco all within minutes of their facility, they knew being on the main road would give Fortress Self Storage the attention it deserved in the growing market. Fortress Self Storage was determined to find a way to set themselves apart in the sea of new development and they did just that by offering Smart Self-Storage units to their tenants…