National Storage Affiliates Trust Announces Largest Increase in Quarterly Common Dividend Since IPO

National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA), announced that its Board of Trustees today declared regular cash dividends for the first quarter 2022 payable on March 31, 2022 to shareholders of record on March 15, 2022 on the following securities: a dividend of $0.50 per common share, representing an annualized dividend rate of $2.00. This new rate represents a 43% increase from the first quarter 2021 dividend and an 11% increase from the previous quarter. a dividend of $0.375 per share on the Company’s 6.000% Series A…

Cannabis and the Self Storage Industry

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…

Self Storage Spotlight from JLL

Exceptionally strong fundamentals are driving a flood of capital to self storage. The sector is considered an inflation hedge and the development pipeline has been hampered in the near-term by supply chain constraints. 2021 was a banner year for the self storage sector and, in particular, for the public REITs that posted an average of over 17% same-store NOI growth, far surpassing other sectors. Hence, it was not a surprise that the REITs generated 78% total shareholder returns in the year, ranking among the top of the REIT sub-sector in…

Let the Good Times Roll!

As we kick off 2022, it’s hard to imagine how the self storage market can get any better. Economists continue to prognosticate that the self storage market is sound and actually getting better; brokerage firms continue making rosy forecasts for the industry and your uncle, as predicted, has made his doomsday predictions at the holiday dinner table. The first few weeks of 2022 have confirmed that investor sentiment towards self storage is at an all-time high. Today, stabilized assets are commanding record high pricing while newly developed lease-up properties and…

Storage Property Recognized as Best in State

Local real estate development company, Woodruff Real Estate Services, LLC, has built a self storage facility on a 2.6-acre parcel in Midland, GA. Woodruff Storage of Lakeside opened on May 17, 2021, with the project being completed ahead of schedule. The three-story building provides over 100,800 square feet. Which offers 554 climate-controlled units to the community of the Lakeside Village Apartments and its neighbors in the Columbus/Midland area. Woodruff Storage at Lakeside Village is located at 6950 Ruffie Way, just off the intersection of J R Allen Parkway and Manchester…

The Industry That Keeps Hitting Home Runs

The business of brokering self-storage transactions in 2021 reminded me of baseball’s home run race in 1998 as Mark McGwire and Sammy Sosa both eclipsed Roger Maris’ mark of 61 homers that had stood for 37 years. Yes, it seemed the market surrounding the buying and selling of self storage properties was also on steroids. There were several metrics “juicing” up the transactional statistics of 2021, namely low interest rates, lowered supply due to fewer properties being constructed in the early period of COVID, increased rates from pent up demand…

StorQuest Self Storage Provides Support to Marshall Fire Victims

In an attempt to support Louisville’s restoration efforts, and help those impacted by the Marshall Fire, StorQuest is donating $1 from every rental at 28 Colorado facilities to support the Boulder County Community Foundation’s Wildfire Fund. The Marshall Fire, which started on Dec. 30, destroyed over 1,000 structures and 35,000 people were forced to evacuate from Boulder County, including the city of Louisville where StorQuest’s facility is located at 1200 Lock St. StorQuest’s donation will assist in aligning resources while the non-profit foundation will work with government and nonprofit partners to disperse…

New Management for Conway, AR Self Storage Facility

Local acquisition of All Secure Mini Storage is bringing professional self storage management to the city of Conway. Ownership group organized by Absolute Storage Investment of Memphis; TN purchased this facility for an undisclosed price using First National Bank & Trust as the project’s lender. All Secure Mini Storage will be rebranded to Absolute Storage of Conway. Absolute Storage of Conway provides climate-controlled storage to the local communities in west Conway. Absolute Storage of Conway is comprised of 458 units totaling 62,030 rentable square feet. New owners have contracted with…

National Storage Affiliates Trust Celebrates 1,000 Store Milestone

National Storage Affiliates Trust (“NSA”) (NYSE: NSA), today announced it has surpassed the 1,000 store milestone. The company went public in 2015 with a portfolio of 246 stores and approximately 14 million rentable square feet across 16 states. Since then, NSA has more than quadrupled its store count and rentable square feet, while diversifying its presence across 40 states and Puerto Rico. Year-to-date 2021, the company has acquired over 190 stores totaling approximately $1.7 billion, bringing the total portfolio count to over 1,000 stores comprising approximately 65 million rentable square…