Author: Shinil Krishnan

Abacus Grows Self-Storage Empire as Spin-Off Listing Looms

Abacus Storage King will comprise the $3-billion Storage King portfolio of assets and $100-million business platform to be a fully integrated self-storage owner, operator and manager.” With the spin-off of its Storage King assets into a $3-billion listed property trust in full swing, Abacus Property Group has filed plans for a four-storey self-storage facility on the Gold Coast. The proposal is an expansion of its existing facility comprising three warehouses across a site spanning two lots and more than 1ha at Miami. Under the plans, it would develop a fourth…

Recent Transactions: 7.11.2023 – 7.17.2023

Portfolio: Self Storage Portfolio (2 Properties) Location: Caldwell, ID Buyer: StorageMart Square Feet: 131,686 (Combined)   Portfolio: Self Storage Portfolio Locations: Greater Toronto, Hamilton and Montreal, Canada Closing Deal: $310 Million Buyers: Bluebird Self Storage and Storewest Developments ( purchased properties where 3,000 new units are planned) Buyer: SmartStop Self Storage (purchased 7,500 existing rentable storage units) Seller: NYX Capital Corp.   Property: Andover Street Self Storage Location: Peabody, MA Closing Deal: $19 Million Year Built: February 2023 Buyer: Public Storage Seller: LCI Management Brokers and Brokerage: Nathan Coe, Brett…

Safeguard Self Storage Expands Presence in Yonkers with New Facility on Nepperhan Avenue

Situated at 324 Nepperhan Avenue, Yonkers, NY, this state-of-the-art facility boasts an impressive 132,000 square feet of storage space, offering a remarkable selection of 1,252 climate-controlled units.” Strategic Location Offers Unparalleled Convenience for Yonkers Residents Safeguard Self Storage is thrilled to announce the acquisition of a new facility in Yonkers, NY, further bolstering its footprint in the region. This strategic expansion, coupled with our soon to open location at 390 Riverdale Avenue and our original Yonkers facility location at 188 S. Broadway, solidifies the firm’s commitment to meet the growing…

Market of the Month: Westminster, CO

StorTrack’s featured market this month is Westminster, CO. The City of Westminster is a municipality located in Adams and Jefferson counties, Colorado. Westminster’s top employers represent leading companies in high-tech, medical, energy, and other expanding fields. How is Westminster as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to find out the potential as a self-storage investment. Self Storage Market Metrics for Westminster, CO   Current Supply: The square feet per capita in this market is 5.71. For comparison, Colorado’s square feet…

Featured Broker: Chuck Shields

Charles E. Shields, Jr., Vice President of Beacon Commercial Real Estate (formerly Hayden Real Estate) has been with the company since 1998. Chuck has focused on brokerage in the Pennsylvania and New Jersey region since 1973 and has specialized in industrial office and investment properties. He is a member of the Tristate Commercial and Industrial Association of Realtors. Chuck covers the Southeast Pennsylvania, South New Jersey and Delaware regions for Argus Self Storage Advisors. Argus Territory: Delaware, Eastern Pennsylvania, Southern New Jersey Contact Charles E. Shields, Jr. Beacon Commercial Real…

National Storage Affiliates Trust Announces the Appointment of Will Cowan as Executive Vice President and Chief Strategy Officer

On behalf of the entire Company, we are excited to announce the appointment of Will as Chief Strategy Officer for NSA. Will’s significant experience in real estate investment banking, including advisory and capital markets transactions, will benefit NSA as we seek to enhance our growth initiatives and capital markets strategy going forward.” – Dave Cramer, President and Chief Executive Officer – NSA National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA), announced the appointment of Will Cowan as the Company’s Executive Vice President and Chief Strategy Officer. Mr. Cowan…

Noah’s Ark Storage Opens New Location in Bronston, Kentucky

To celebrate the grand opening, Noah’s Ark Storage offers exclusive discounts and promotions for new customers at the Bronston location. Interested individuals are encouraged to visit the facility or contact the friendly staff to learn more about these limited-time offers.” Noah’s Ark Storage, a trusted name in self-storage solutions, is thrilled to announce the grand opening of its latest facility in Bronston, Kentucky. Conveniently located at 2266 KY-90 Bronston, KY 42518, this state-of-the-art storage facility offers residents and businesses in the Bronston area access to premium storage options designed to…

Titan Self Storage in Centralia Starts New Partnership With U-Haul

U-Haul recently announced it has entered into a new partnership with Titan Self Storage in Centralia, which will allow the storage business to offer U-Haul trucks, trailers, towing equipment and other rental equipment, according to a news release. U-Haul rentals for customers are available now. Titan Self Storage is located at 307 Reynolds Ave. in Centralia. Since 1945, U-Haul has been teaming up with independent dealers and businesses to offer rental moving equipment. “During these challenging times for small businesses, more than 21,000 dealers across the U.S. and Canada are…

Recent Transactions: 7.05.2023 – 7.10.2023

Property: Windermere Storage Location: Orlando, FL Closing Deal: $23.1 Million Buyer: Wentworth Properties Seller: Schrimsher Properties Square Feet: 89,145 Unit Count: 609 climate-controlled units + 351 parking spaces Office Building: 2,000 square feet   Property: Cooper Street Plaza Retail Center (For Self Storage Development) Location: Arlington, TX Seller: Silver Star Properties REIT, Inc. Square Feet: 127,696 Occupancy: 90%   Property: Farmington Self Storage Location: Farmington, NH Year Built: 1995 Brokers and Brokerage: Luke Dawley, Nathan Coe, Brett R. Hatcher, Thomas Shihadeh and Gabriel Coe of The Hatcher and Coe Group…

RV and Boat Storage Trends 2023 – David Perlleshi, Franklin Street

As recreational vehicles (RVs) and boats continue to surge in popularity, the need for adequate storage solutions has become increasingly important. Whether it is the allure of the open road or the call of the open water, enthusiasts are seeking convenient and secure options to store their beloved vehicles when they are not in use. In this article, we will explore the latest trends in RV and boat storage in 2023, highlighting the innovative solutions and emerging practices that are reshaping the industry. 1. Rise of Dedicated Storage Facilities: One…