Author: Shinil Krishnan

True Storage Completes 10th Self-Storage Development of 2024 with Kmart conversion in Hooksett, NH

New England self-storage developer, True Storage completed its 10th completion of the year this past week with the opening of its newest CubeSmart conversion. The project is a conversion of a former Kmart that had been vacant for over a decade. The property is located at 1267 Hooksett Rd. and is the anchor box in the L-shaped shopping plaza, which True Storage also owns and is making improvements to. This class A self-storage conversion features True Storage’s expertise in transforming underutilized properties into storage facilities that serve a public need.…

StorageMart Opens State-of-the-Art Self-Storage Facility in Silverthorne, CO

REA Development and StorageMart have officially opened a new self-storage facility in Silverthorne, which they proudly describe as one of the most advanced in the country. Located at the intersection of I-70 and Highway 9, this facility is set to become a key resource for the local community, providing secure, high-tech storage solutions in a convenient location. The location was chosen carefully for its easy access to the surrounding mountain communities, making it a practical choice for both residents and visitors who need secure, reliable storage. The facility stands out…

U-Haul Approved to Expand its Self-Storage Facilities at Palencia, FL

U-Haul can expand and renovate its facilities in Palencia after a unanimous vote of approval for rezoning from the St. Johns County Board of County Commissioners on October 01. The project is at 6810 U.S. 1 N., near Stokes Landing Road, about half a mile north of King’s Head Pub. U-Haul plans to develop the 12.42-acre site into a self-storage and rental facility. The project includes renovating the existing rental building, constructing a three-story, 117,114-square-foot self-storage building and adding a one-story, 17,012-square-foot warehouse. It will also feature an RV and…

Hunt Midwest Opens Sixth StorTroplis Self-Storage Facility in Olathe, KS

Hunt Midwest opened its sixth and largest StorTropolis Self-Storage facility in Olathe, Kansas, with a grand opening celebration. StorTropolis Olathe offers 113,010 leasable square feet across 867 total climate-controlled units of a variety of sizes, ranging from 5′ x 5′ square units to 13 ‘ x 42’ units for household goods, boats, RVs, and other large equipment. StorTropolis now offers more than 4,000 total self-storage units across six locations, including in Clay County, Platte County, Blue Springs, Shawnee, and Lenexa. “We’re proud to bring our StorTropolis self-storage brand to another…

Safeguard Self Storage Receives 2024 New Industrial Construction Award; Recognized Among Top Projects at Queens Chamber of Commerce’s Building Awards Gala

Safeguard Self Storage is excited to announce that the newly constructed Safeguard Self Storage facility at 130-02 South Conduit Avenue has received the prestigious 2024 New Construction Award in the Industrial category. This recognition highlights the exceptional quality and innovation in design and construction that the project embodies. The 2024 Building Awards Gala will take place on Thursday, October 10, 2024, at The TWA Hotel at John F. Kennedy International Airport, celebrating excellence in the design, construction, and sustainability of projects across Queens. This year marks the gala’s 98th anniversary,…

Hernandez Development and XSITE Real Estate Receive Planning and Zoning Approval on Class-A Self Storage Facility in Naperville, IL

Hernandez Development and XSITE Real Estate have announced the site plan approval from the Planning and Zoning Department of DuPage County for a Class A Self-Storage facility and mixed-use development situated in the thriving Village of Naperville, IL. Upon completion of construction, this project will feature a Class A climate-controlled self-storage facility, a one-story Little Sunshine Playhouse & Playschool Facility, and a drive-thru-only Scooter’s Coffee. The total square footage of the self-storage facility will be 120,300. The development is located on 75 th Street. With a daily volume of 41,900…

Featured Broker: Ingla Robinson

Ingla Robinson is the Vice President of Finance & Operations of Calvary Realty and is responsible for organizing, planning, and managing the internal structure of the company. Ingla takes a sophisticated and nuanced business perspective, enabling her to oversee the continued growth of Calvary Realty to keep in line with the company’s goals and visions. Growing her career in both corporate and start-ups, Ingla has helped cultivate the growth of Calvary Realty by overseeing the financial planning, budgeting, cash flow, investment priorities, and policy matters of the company.

Recent Transactions: 10.01.2024 – 10.07.2024

The recent self-storage transactions, ranging from the record-breaking $91 million sale in Cerritos, California, to smaller acquisitions in markets like Tuttle, Oklahoma, and Danville, Arkansas, highlight investors’ focus on a diverse portfolio strategy. High-demand urban centers (e.g., Cerritos, Tacoma) attract investors due to dense populations, strong economies, and limited land supply. At the same time, suburban and rural markets offer opportunities for market penetration with less competition. Investors are also targeting facilities with high occupancy rates and a mix of unit types, reflecting a strategy to capitalize on steady cash…

Self Storage Market of the Month: Davis, CA

StorTrack’s featured market this month is Davis, CA. Davis is a college town known for its eco-friendly initiatives and strong community focus. Located near Sacramento, it serves a diverse population, including students from UC Davis, local residents, and nearby agricultural communities. How is Davis as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.   Self Storage Market Metrics for Davis, CA   Current Supply: There is a…

StorTrack’s National Transactions Report: August 2024

In recent months, investment activity in the self-storage market saw a sharp decline, with just 25 transactions totaling $131 million, a significant drop from the 1,203 deals and $6.77 billion seen in Q4-2021. This downturn, driven by rising interest rates, inflation, and oversupply concerns, has shifted investor focus to larger, high-value properties. By Q3-2024, transaction volume had plummeted by 93% compared to last year. However, the average building size per deal rose by 51%, and the average sale price surged by 171%, indicating more selective investment in high-quality assets. A…