Author: Shinil Krishnan

StorTrack’s National Pricing Trends Report: August 2024

The U.S. self-storage industry, with over 65,000 facilities, remains stable but has seen a pricing decline over the past year. While some markets face oversupply, states like Florida and Arizona are growing due to population increases and the shift to remote work. Notably, the gap between street and online rates has widened by 8%, with online rates dropping 5.6% and street rates rising 1.4%. This trend reflects operators offering aggressive online discounts to attract digital customers while maintaining higher street rates to balance revenue. Dynamic pricing and online marketing are…

Hernandez Development and XSITE Real Estate Receive Planning and Zoning Approval on Class-A Self Storage Facility in Deer Park (Lake County), IL

Hernandez Development and XSITE Real Estate have announced the approval from the Planning and Zoning Department for a Class A Self-Storage facility and mixed-use development situated in the thriving Village of Deer Park, IL. Upon completion of construction, this project will feature a Class A climate-controlled self-storage facility, a retail multi-tenant building, and a dedicated drive-thru-only for Scooter’s Coffee. The total square footage of the self-storage facility will be 120,000. The development is located on N Rand Road. With a daily volume of 44,900 vehicles per day, Rand Road is…

Maximizing Storage Doors: Maintenance Tips and When to Replace

Storage doors are a key component of any self-storage facility, and their maintenance is crucial for smooth operations, safety, and customer satisfaction. Since they’re among the first things customers notice, well-maintained doors create a positive impression, while neglected ones can deter potential clients. Caring for your storage doors ensures longevity and safety, protecting both your investment and tenants. Why Maintenance Matters Beyond aesthetics, functional doors enhance customer experience by making units easy to access. Proper maintenance can also prevent accidents caused by heavy or faulty doors. Additionally, clean, well-functioning doors…

Unlock the Potential of Your Land with Free Land-Review Program

For individuals and investors looking to maximize the use of their vacant land or buildings. Storage Authority Franchise, a leading operator of self-storage facilities, that helps busy professionals find land, get approvals, get developed and run a first-class facility has introduced a complimentary land-review program. This initiative aims to help determine whether a piece of land or an existing structure is suitable for a self-storage project, providing valuable insights that could save thousands of dollars in feasibility studies. The Challenge of Feasibility Studies Traditional industry feasibility reports can be costly,…

Recent Transactions: 9.17.2024 – 9.23.2024

These self-storage transactions reflect a strategic investment focus on suburban and regional markets across the U.S., targeting both residential and commercial demand. With a mix of climate-controlled, drive-up, and commercial spaces, properties in Oklahoma, New Jersey, Minnesota, and Texas are positioned to capture local market needs, particularly in urbanizing areas. The emphasis is on diverse service offerings and operational efficiency to meet growing demand from businesses and homeowners, with more advanced facilities in markets like Glassboro and Rochester attracting higher-income clientele.   Property: Premium Storage Location: Tuttle, OK Address: 4945…

Featured Broker: Kirk Silas

Kirk Silas is a Financial Analyst on the Investment Sales team at Versal, based in the Austin, Texas office. Focused exclusively on underwriting self-storage assets across the United States, he has assisted in evaluating transactions for a range of clients, from private investors to publicly traded REITs. Kirk joined the Versal team as a licensed real estate professional in early 2024 and has since underwritten 10 million square feet of self-storage assets. He has developed a deep understanding of storage market fundamentals and has been published in the Texas Self…

5 Questions With Anita Huedepohl, Liberty Funding

Introducing our new recurring series, 5 Questions With… featuring Anita Huedepohl from Liberty Funding! In this short video, we discuss common reasons self-storage operators are declined loans by traditional banks, how to find industry-savvy lenders, the impact of ‘add-back expenses’ on loan approvals, advice for operators seeking loans, and comparing SBA and bridge loans for self-storage operators.

Sam’s Self Storage Purchase – A Tale of SBA Financing

With the onslaught of ever-increasing rates over the past 18 months, many owner-operators have been searching for a viable solution to purchase or refinance their facility. Most products have virtually doubled in rate compared to those available through the middle of 2022. A new SBA product has arrived at 7.9% for a 5-year term on a 25-year amortization. The rate is nearly 3% lower than the average and the amortization is 10 years longer than most bank notes alleviating cash flow shortfalls that undermine most owner’s cash flow. Currently, the…

Diamond Point Development, LLC Announces the Ground-Breaking of a New, State-of-the-Art Self-Storage Facility in Carmel, NY

Diamond Point Development, LLC (DPD) has announced that on September 30, 2024, they will break ground on a new, state-of-the-art 105,405 square foot multi-story, secure, climate-controlled self-storage facility at 106 U.S. 6, in Mahopac, New York (the hamlet Mahopac is a part of the Town of Carmel). The expected opening date is in the 4th quarter of 2025. For information, visit DiamondPointDevelopment.com. “This site was the former home of Mahopac Farms, a beloved institution in the Carmel community that once supported a playhouse, a museum and a petting zoo,” explains…

San Antonio RV and Boat Storage Expands Services with U-Haul Trailer Rentals in San Antonio, TX

San Antonio RV and Boat Storage is excited to announce the newest addition to its comprehensive range of services: U-Haul trailer rentals. This expansion offers customers greater convenience and flexibility, whether they’re moving, towing, or transporting vehicles, with access to U-Haul’s trusted and versatile fleet. Located between Potranco Road and Culebra Road, San Antonio RV and Boat Storage continues to provide premier storage solutions, including RV storage, boat storage, and self-storage units. Known for its secure and spacious facility, the company has become a top choice for residents of Alamo…