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Extra Space Storage Inc. Has Acquired Yellow Door Storage – Northgate in Denton, TX

Extra Space Storage Inc. has acquired Yellow Door Storage – Northgate, a 520-unit self storage facility in Denton, Texas, from NorthBridge Realty Holdings. JLL represented the seller and procured the buyer. The self storage facility is currently subject to a $5.3 million construction loan originated by Washington Federal Bank in 2021. JLL Capital Markets Managing Directors Steve Mellon and Brian Somoza, together with Directors Adam Roossien and Matthew Wheeler, worked on behalf of the NorthBridge in securing the deal. Yellow Door Storage – Northgate, up close The 65,600-rentable-square-foot facility came…

Rising Operational Costs in 2025? 4 Ways Operators are Offsetting the Pain

While we know that for many self-storage operators, property taxes in their markets continue to create challenges, many others are also experiencing the strain of inflation and other increased operational costs. But at Janus International, we’re seeing some solid strategies that are working for our customers. Read on for tools and ideas that can help offset increasing costs within the self-storage industry. Payroll: When was the last time you “audited” your site for the most frequented times of the day? What did you find? Are you making your technology work…

JLL Capital Markets Led the Financing Efforts for Liberty Storage Center in Jersey City, NJ

JLL Capital Markets announced today that it has arranged construction financing for Liberty Storage Center, a 103,530-square-foot, to-be-built self-storage facility in Jersey City, New Jersey. JLL worked on behalf of the borrower, Tulfra Realty Company, to secure the construction loan with Fulton Bank, NA. The property will be leased and managed by Public Storage. Liberty Storage Center is located at 300 McGovern Dr. in the southern portion of Jersey City, the second most populous city in New Jersey. Jersey City has benefited from a nearly 30% increase in residents since the…

FreeUp Storage Announces a Rollout of StoreEase’s Virtual Technology Platform

We’re excited to partner with FreeUp Storage, one of the industry’s top operators, to advance a more efficient and customer-centric operational model. Every rental and service interaction counts. By delivering a consistent Virtual Manager®, extended office and phone hours, and enhanced customer service, this partnership will drive both revenue and customer experience. FreeUp Virtual Managers are leading the way in this transformative approach.” –  Josh Boyd [CEO, StoreEase] FreeUp Storage has announced a strategic partnership with StoreEase to integrate its cutting-edge Virtual Technology Platform across FreeUp’s portfolio. FreeUp Storage received…

2025 Outlook – by, Ben Vestal of Argus Self Storage Advisors

It’s that time of year when we reflect on the lessons learned in 2024 and set our sights on the new year. Without question, 2024 proved to be a very challenging year. There was real anxiety related to soft market fundamentals, rising interest rates which made most investment reports irrelevant, and pricing discovery on every deal. In many ways, 2024 was not that much different than 2023. What we do know is that the investment market has continued to evolve and the overall outlook for 2025 is cautiously optimistic. Over…

5 Questions With… Rona Siegel and Amy Monson of StorQuest

In our “5 Questions With…” conversation, Rona Siegel, National Director of Third-Party Management, and Amy Monson, Business Development Director, from StorQuest shared valuable insights on self-storage investment and operations. They discussed critical factors for buying or developing facilities, common pitfalls for newcomers, and the evolving role of third-party managers. They highlighted industry changes over the past five years, strategies for customer retention, and the importance of digital marketing. They also explored how to future-proof businesses and adapt to shifting customer expectations. Tune into this super insightful conversation!   Connect with…

StorTrack’s National Pricing Trends Report: 3Q 2024

Overview The self-storage market in 3Q 2024 reflected an industry-navigating transition, pressured by elevated interest rates, inflation, and regional oversupply. Average street rates declined 0.9% quarter-over-quarter and 2.3% year-over-year to $1.49/sq ft., while promotional rates dropped more steeply by 10.2% year-over-year to $1.20/sq ft., signalling heightened competition and increased reliance on discounts to maintain occupancy. This competitive pressure stems from oversaturation, driven by a surge in pandemic-era development that left many new facilities struggling to stabilize in overbuilt markets. Despite these challenges, demand for climate-controlled units and premium features remains…

1784 Capital Secures Bridge Loan for SoCal Self Storage in San Gabriel, CA

1784 Capital Holdings has secured a $41.3 million bridge loan for a Class A self-storage project in San Gabriel, Calif. Talonvest Capital Inc. arranged the note provided by a REIT. The bridge loan has a three-year term with two extension options, as well as interest-only payments throughout its duration. Because the self-storage development broke ground in 2022 and is still under construction, the funds from the loan will be used to repay the current construction debt and cover all costs associated with the loan. The development previously became subject to…

Newmark Secures $315 Million Loan for Self-Storage Assets Across 24 Markets in 11 US States

Newmark Group (NASDAQ:NMRK), Inc. has facilitated a $315 million refinancing deal for a national portfolio of self-storage facilities, representing a significant transaction within the alternative real estate sector. The loan was arranged by Newmark’s top executives for TPG Angelo Gordon, in partnership with Andover Properties, and was provided by a consortium of lenders including Wells Fargo (NYSE:WFC), Goldman Sachs (NYSE:GS), and 3650 REIT. The refinanced portfolio comprises 43 properties with over 21,300 units, totaling 3.1 million rentable square feet and operating under the Storage King USA brand. These facilities are…

JLL Capital Markets Led the Sales Effort for the Self-Storage Portfolio in Philadelphia and West Florida

JLL Capital Markets announced today that it has completed the sale of a six-property self-storage portfolio totalling 468,266 rentable square feet in the Philadelphia MSA and the Tampa, Sarasota and Fort Myers areas of West Florida. JLL’s National Self-Storage team represented the seller, a partnership between Metro Self Storage and Heitman, and procured the buyer, Andover Properties. The properties were operated and managed under the Metro Self Storage brand at the time of sale and will be rebranded to Andover’s Storage King USA brand. The portfolio consists of three properties…