Author: Shinil Krishnan

Citizen Storage Management to Expand into New Markets – Grew Current Portfolio Appraisal Value 189% in Five Years

Citizen Storage Management, a third-party self storage management company, has plans to expand operations in 2023. Previously, Citizen Storage Management (CSM) focused its management operations in Tennessee, Mississippi, and Michigan with great success. Since taking over two properties in 2017, CSM increased revenue by 101% and Net Operating Income by 119%. The appraisal value of the portfolio grew 189% since CSM began managing the properties. In 2020, CSM took over management of 8 locations in the Memphis, TN market from one of the largest REITs in the industry. In two…

Maya Capital Partners, LLC. Completes the Development of Class A Storage Facility in Norwalk, CT

Maya Capital Partners, LLC. is pleased to announce the completed development of a Class A 1,113-unit, 98,814 SF, self storage facility in Norwalk, CT. The best-in-class, fully climate-controlled facility is located at 320 Wilson Ave, Norwalk, CT, in the heart of the burgeoning South Norwalk (“SoNo”) neighborhood. The development project began with the purchase of a newly built vacant industrial building, which has excellent access and visibility along Wilson Avenue in South Norwalk and is located within 1 mile of multiple new residential and commercial development projects; this includes 1,000…

Janus International to Participate in the KeyBanc Capital Markets Self Storage Investor Forum

Janus International Group, Inc. (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for the self-storage and other commercial and industrial sectors, today announced that the Company will participate in the KeyBanc Capital Markets Self Storage Investor Forum in New York, NY on Thursday, January 5, 2023. About Janus International Group: Janus International Group, Inc. (www.JanusIntl.com) is a leading global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including roll-up and swing doors, hallway systems, re-locatable storage units…

StoreEase Virtual Management® Opens First Smart Storage Facility in Hoover, AL

Powered by a proprietary Virtual Management Operating System (VMOS) along with Nokē Smart Entry, the city of Hoover welcomes a new self-storage asset to the community. Hoover, AL – January 5th, 2023 – Hoover residents can now step into the future of self-storage at their local StoreEase facility. Located at 2175 AL- Hwy 150, StoreEase is the first Smart Storage™ facility of its kind in the area. Utilizing StoreEase’s state-the-art technology to deliver greater customer service and convenience, the facility also features Nokē Smart Entry System to enhance security. Owned…

National Storage Affiliates Announces Fourth Quarter 2022 Capital Markets Activity and PRO Update

National Storage Affiliates Trust (“NSA” or the “company”) (NYSE: NSA), today announced the following recent activity: Expansion and Extension of Credit Facility. The company has entered into a third amended and restated credit agreement which expands the total borrowing capacity of its credit facility by $405 million to $1.955 billion with an accordion feature to expand the total borrowing capacity to $2.5 billion. The maturity date of the revolving line of credit is now January 2027 versus the previous maturity date of January 2024, while the total borrowing capacity was…

West Coast Self-Storage Opens Storage Facility in NE Portland

West Coast Self-Storage announced today that it has opened its newest storage facility in Portland, Oregon. The facility is named West Coast Self-Storage Halsey and is located at 1530 NE 67th Ave near Halsey Blvd in the Madison South neighborhood of NE Portland. The storage facility has 643 storage units encompassing 53,375 square feet of storage space. The facility features interior heated storage units ranging from 5 x 5 to 10 x 30. It also features drive-up accessible units in a range of sizes from 10 x 10 up to…

Smartstop Self Storage Announces 22nd Property in the Greater Toronto Area

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced today that it has increased its owned and managed Canadian self storage portfolio to 22 locations. The 22nd property in the portfolio is the newly developed facility located in the Town of Aurora in the Greater Toronto Area of Ontario. Located at 87 Goulding Avenue, the approximately 94,000-square-foot facility is a joint venture development with SmartCentres. The new Class A, four-story climate-controlled facility includes approximately 890 units and is well-situated across from…

Recent Transactions: 12.27.2022 – 01.02.2023

Property: Big League Storage Location: Magnolia, TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: 10F Pursuit, LLC Seller: Big League Enterprises, LLC NRSF: 22,800 Unit Count: 129 Property: FM 812 Storage Location: Del Valle,TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: ATX FM 812 Storage, LP NRSF: 43,250 Unit Count: 257 Property: CubeSmart Self Storage Closing Price: $11 Million Location: Moncks Corner, SC Brokers and Brokerage: Ian Lindahl and Adam Schlosser of the LeClaire-Schlosser…

NexPoint Storage Partners Acquires SAFStor to Expand Self Storage Portfolio

NexPoint Storage Partners, Inc., a self storage platform affiliated with NexPoint Advisors, today announced that it became the sole owner of 29 new, well-located and high-quality self storage properties developed by SAFStor. The acquisition brings NexPoint Storage to a total asset value of approximately $1.7 billion with 71 wholly owned and operating properties and one additional property expected to open in February 2023. The SAFStor acquisition continues the strong execution of our strategy to own the newest and highest quality self storage portfolio in the United States and provides us…

Public Storage Reopens High-Tech Facility in Silicon Valley

Public Storage recently reopened its facility adjacent to offices of Apple Inc in Cupertino, CA after completing an expansion and major high-tech upgrades. The facility at 20565 Valley Green Drive, now has two five-level buildings and grew from 51,000 square feet to 195,000 square feet. The number of units has jumped from 585 to 2,593. The facility offers contactless app-enabled digital property access and account management. The remodeled facility is now able to achieve LEED Silver status with the addition of sustainable features such as solar panels and LED lighting.…