Category: Self Storage News

SmartStop Self Storage REIT, A Premier Owner And Operator Of Self Storage Facilities in the United States and Canada, Announces Pricing of Underwritten Public Offering

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced today the pricing of its public offering of 27,000,000 shares of common stock at a price to the public of $30.00 per share. SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Shares of SmartStop’s common stock are…

Extra Space Storage Celebrates 4,000 Stores Milestone in the United States

Extra Space Storage, Inc., (NYSE:EXR) the largest operator of self storage properties in the U.S., announced a significant milestone for the company as they celebrate reaching over 4,000 stores nationwide. Extra Space has more than doubled its store count since 2021. “This achievement is a testament to the company’s steady growth and resiliency of the self storage sector,” said Joe Margolis, CEO. “Reaching 4,000 stores isn’t just about the number – it’s about the people who made this growth happen. Our team’s focus on sustainable, strategic, and accretive growth ensures…

StoreEase Unveils Ease.AI and Next-Generation Virtual Counter to Revolutionize Self-Storage Operations

StoreEase®, the leader in Virtual Technology solutions, proudly announces the launch of Ease.AITM, its groundbreaking artificial intelligence platform designed to revolutionize operational efficiency and customer service in the self-storage industry. This AI software seamlessly manages both office and call center interactions, ensuring an always-available, frictionless experience that enhances efficiency and customer satisfaction. Alongside this innovation, StoreEase is introducing its new, more cost-efficient Virtual Counter® powered by Ease.AI, delivering an unparalleled combination of automation, personalization, and cost savings for self-storage operators. Ease.AI: Powering the Future of Self Storage Ease.AI is designed…

Boardwalk Development Group Receives Certificate of Occupancy for New Self Storage Facility in McDonough, GA

Boardwalk Development Group (BDG) announces the receipt of a Certificate of Occupancy for its latest self-storage development, Boardwalk Storage – Westridge, LLC, located at 275 Westridge Parkway in McDonough, Georgia. This state-of-the-art facility features 86,550 net rentable square feet of Class A bi-level climate-controlled storage, comprising 527 units designed to meet the growing storage needs of residents and businesses in McDonough and surrounding communities. Strategically located for easy access, Boardwalk Storage – Westridge provides a premium solution for those seeking secure, high-quality self-storage options in the area. “The development of…

Talonvest Secures $14.4M in Financings for Two Self-Storage Properties in Thousand Oaks and Torrance, CA

Talonvest Capital, Inc. is proud to announce two recent closings for SoCal Self Storage. The first was a $7,200,000 non-recourse permanent loan for a self-storage facility located at 2550 Willow Lane in Thousand Oaks, California. The property spans 54,937 NRSF and features a total of 525 units. The property benefits from its prime location along the 101 Freeway, which sees over 170,000 vehicles per day. Concurrently, Talonvest negotiated a second loan on behalf of SoCal Self Storage for a facility encompassing 42,979 NRSF spanning 499 units and located in the…

Absolute Storage Management Celebrates Milestone: Now Managing Over 150 Properties Across United States

Absolute Storage Management (Absolute) proudly announces a significant milestone as the company now manages over 150 self-storage properties across the southeastern and midwestern United States. This achievement underscores Absolute’s commitment to excellence and its sustained growth within the industry. Founded in 2002 by three partners who met while working together at Storage USA, Absolute has steadily expanded its footprint while maintaining its dedication to providing unparalleled service. Notably, Absolute proudly manages 5 of its first 10 properties which date back over 20 years—a testament to the strength and longevity of…

Q4 2024 Self-Storage Transactions: Trends & Regional Insights

A quarterly review of self-storage transaction activity across the U.S., highlighting key trends, regional insights, and investment shifts. This report is based on our self-storage investment trends and transaction volume analysis for Q4 2024. Q4 2024 Market Overview: Trends & Investment Highlights Amid shifting market dynamics and heightened economic uncertainty, self-storage investment remained a bright spot in Q4 2024, with buyers actively pursuing opportunities in key markets. StorTrack’s analysis uncovered 94 self-storage transactions closing last quarter1, totaling over $530 million in sales and spanning 4.5 million net rentable square feet…

Hearthfire Holdings Announces Strategic Engagement with CubeSmart for Self-Storage Portfolio Management Across Delaware, Illinois, Indiana, and Pennsylvania

Hearthfire Holdings, a leader in real estate investment and wealth creation, announced a strategic engagement with CubeSmart (NYSE: CUBE), one of the nation’s premier self-storage operators. Through this collaboration, CubeSmart will assume management of Hearthfire’s portfolio of 15 self-storage facilities across Delaware, Illinois, Indiana, and Pennsylvania, effective February 11, 2025. This engagement represents a significant step in Hearthfire Holdings’ commitment to maximizing value for investors while enhancing the customer experience. The transition encompasses 13 existing properties and two pending acquisitions, positioning the portfolio for accelerated growth and operational excellence. “Throughout…

HPI Announces Final Close of Self Storage Fund IV, Raising Over $58MM

HPI, a leading Texas-based real estate investment firm specializing in self-storage, industrial, office and multifamily assets, announced the successful final closing of HPI Self Storage Fund IV (“Fund IV”) with total capital commitments in excess of $58MM. The fund received strong support from many of HPI’s legacy investors as well as new investors, demonstrating continued confidence in HPI’s investment strategy and track record. Fund IV will be targeting 10-12 institutional grade self-storage assets throughout the United States via acquisition, development, preferred equity, debt or other instruments. The fund seeks to…

The Power of Local Marketing for Your Self Storage Facility

In today’s competitive self-storage market, local visibility is key to attracting tenants. According to the 2023 Self Storage Demand Study, 77% of consumers are willing to travel 19 minutes or less to a facility, highlighting the importance of strong local marketing. By positioning your facility as the go-to option within your community, you can capture demand and maximize occupancy. Target the Right Local Businesses To effectively market your self-storage facility, focus on partnerships with businesses that serve customers experiencing life transitions—one of the biggest drivers of self-storage demand. Consider networking…