Category: Resources

Storage facilities can take advantage of cost segregation. Owners and investors may be eligible to use this strategic tax planning tool if they have constructed, purchased, expanded or remodeled recently. Cost segregation itself is a specialized service. The process works as such: After reaching out to a cost segregation company, they will come to your facility. They will then segregate out all your assets, which means they will break everything down. In doing so, they will shift it from being a commercial building that is depreciated over 39 years to…

Right Move Storage, LLC., headquartered in Houston, Texas announced this week that it has been awarded the management and leasing of a 4,000 unit Class “A” self storage portfolio consisting of five properties located in Florida and Massachusetts. LandPark Advisors, LLC., an affiliate of Right Move Storage, will oversee operations and provide advisory services. The properties are owned and developed by Farrell Storage. This brings the total number of units under management by Right Move Storage to over 20,000 and the total managed square footage to over 3,000,000. Right Move…

Reviewing and potentially signing a NDA can be an overwhelming responsibility. Candidly, I get a minor headache just thinking about it but without guidance, it could result in legal repercussions so I sought advice from Scott Zucker of Weissmann Zucker Euster Morochnik & Garber P.C. With his help, this was drafted as a standard example of an acceptable NDA. It is also important to avoid ambiguous language. In the attached file, “Evaluation Material” clearly defines what information is not readily available to others. Often, these materials are delivered to the…

***THE FOLLOWING IS NOT A LEGAL DOCUMENT. PLEASE CONSULT AN ATTORNEY WHEN DRAFTING AN AGGREMENT***   CONFIDENTIALITY AND NONDISCLOSURE AGREEMENT THIS CONFIDENTIALITY AND NONDISCLOSURE AGREEMENT is made and entered into as of the ____ day of ______ 20__, by and between _____________________________ (“Seller”) and ________________________, (“Buyer”). W I T N E S S E T H: WHEREAS, Buyer is interested in pursuing the purchase of (Address:)__________________________________________________. (Address:)__________________________________________________. (Address:)__________________________________________________. (collectively, the “Transaction”) To assist Buyer in the evaluation of this Transaction, Seller will provide Buyer with certain information (defined below as…

For the first time in my 15+ year history at Argus I find myself wondering why self storage values are growing at such a rapid pace.  With all of the hype surrounding self storage it’s worth contemplating; is this as good as it gets? We’ve been talking about the uncertainty of this self storage valuation boom for 10+ years now, including how long it will last and the impacts of major driving factors such as interest rates, new development, consumer and demographic trends and overall market fundamentals.  For now, all…

The year is 1983. You dance your way into the kitchen while enjoying Lionel Richie’s smashing new hit “All Night Long”, pour yourself a nice tall glass of Tang and flip on Good Morning America. Poised front and center is the always classy FLOTUS, Nancy Reagan, and you hear her utter that infamous phrase for the first time, “JUST SAY NO.” This phrase has echoed throughout the decades, but the war on drugs has shifted tremendously since that point in time. All but two states now have some form of…

Tamara Fischer, President and Chief Executive Officer of the Company, commented, “We’re excited to announce Will’s appointment to Vice President of Acquisitions. Will has been a key contributor to NSA since joining the firm in 2015, serving most recently as the leader of our Data Science team. His in-depth knowledge of NSA combined with his prior experience in acquisitions will enhance the execution of the robust deal flow that we are seeing in the market.” NSA prides itself on being different from the traditional REIT. Storage industry Acquisitions Teams don’t…

Mike MeleVice ChairmanCushman & Wakefield Last October, Blackstone Group Inc put a $1.2 billion price tag on their self storage market confidence. Their purchase of Simply Self Storage set off the alarms of investors worldwide and threw significant weight behind what insiders already knew: self storage has legs. Together, with Elliott Management and numerous other industry players, investor interest is at an all-time high. In addition to engagement from powerhouse investors, self storage properties are seeing a boost in valuations thanks to increased rates and occupancies. According to data from…

When EXP Realty took over a pen and paper storage operation, they knew there was a better, more modern approach to running a storage facility. They turned to Storable’s platform of powerful technology and found success. The Challenge: Eliminating Busywork and Missed Opportunities After purchasing a couple of storage facilities that were managed using pen and paper, Frazier Robison of EXP Realty became quickly overwhelmed by the volume of tedious tasks necessary to manage day-to-day operations. He and his business partner knew there had to be a better way to…

A cloud-based, gate access control system can be connected to a self storage facility’s gates as well as doors to any buildings. The older style of gate access requires a computer to be onsite so it can run a copy of the software locally. With this comes issues that are resolved by cloud access control. The following demonstrates why cloud access is a better option. Automatic Updates Cloud access control facilitates instantaneous changes and allows for automatic updates. For example, you can set your gate up to automatically lock out…