Category: Uncategorized

Featured Vendor: U Storage Property Management

U Storage is proud to be the top-rated self-storage operator in 3 Arkansas regions. We’re proud to offer property management to operators who want to convert existing locations or build from the ground up. Our development, operations, and marketing teams are second to none and have proven that we have systems in place to help you operate a world-class facility and U Storage brand. Owning a storage facility is one thing, but knowing how to manage and market your facility to bring the highest ROI, is a completely different challenge.…

PTI Security Systems Announces David Shaw as Managing Director

PTI Security Systems, the global leader in access control technologies for the self storage industry, announced today that David Shaw will be named as managing director effective December 1, 2022. David Shaw joined PTI as the director of engineering in January 2018. As the director of engineering, he played a key role in advancing PTI’s cloud-based access control solution, StorLogix Cloud, and has led several initiatives to improve the technology enabling PTI’s hardware and software solutions. He has more than 20 years of executive experience in various engineering and information…

Cushman & Wakefield Self Storage Advisory Group Q3 Report

Rental income increased Nationwide due to the increases in asking rental rates even though the physical occupancy decreased. The graph below shows the rental rate averages for the other non-climate controlled, down stairs, standard unit sizes that are offered at storage facilities Nationwide. Notably, rent per available square foot increased in the 3rd Quarter 2022 for both Nationwide and REITs. The REITs had very strong performance this year, and the pandemic caused the market sector to recover stronger than the normal self storage yearly cycle. This demonstrates the sector’s resiliency during the…

Recent Transactions: 10.26.2022 – 11.01.2022

  Property: Byron Cowling Moving & Storage Location: Lubbock, TX Broker and Brokerage: Brandon Karr of Marcus & Millichap  NRSF: 60,270 Units: 429 Room for Expansion: Yes Occupancy: 70% Amenities: Perimeter fencing Wide concrete roadways 24/7 video surveillance Personalized keypad gated entry and exit Garage-style roll-up doors Professional leasing office Keypad to interior units   Portfolio: Heartland Storage  Location: Cedar Lake, IN Brokers and Brokerage: Meir Perlmuter, Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap   Units: 34 climate-controlled units, 824 non-climate-controlled units,…

Featured Broker: Luke Elliott

Luke Elliott is the vice chairman of the Cushman & Wakefield Self Storage Advisory Group. He is responsible for private client and mid-market assignments in the firm’s national footprint. The Self-Storage Advisory Group represents private clients, institutional investors and other financial institutions by advising them on acquisition tactics and strategic disposition of self storage assets. In 2021 alone the Self-Storage Advisory Team closed 84 transactions and 188 facilities, bringing the team sales volume to over $2.3 billion. Luke joined Cushman & Wakefield in 2019, as part of a large-scale, multi-market…

SpareBox Storage Strengthens Balance Sheet with Successful $463 Million Refinance with Bank of America

With 7.4 Million Square Feet in 21 Markets Across Nine States, SpareBox is Poised for Rapid Growth The Leading Unmanned Operator in Self Storage September 22, 2022 09:00 AM Eastern Daylight Time DENVER–(BUSINESS WIRE)–SpareBox Storage, the leading unmanned operator in the self storage industry, today announced it successfully strengthened its balance sheet with a $462.5 million refinancing with Bank of America. SpareBox is one of the fastest growing self storage companies participating in the consolidation of the highly fragmented sector, and in just over two years, has acquired 7.4 million…

Recent Transactions 09.20.2022 to 09.26.2022

Property: 70,000-square-foot complex Closing Price: $6.026 million Location: Vancouver Island, BC, Edmonton, AB, Calgary, AB, Kitchener, ON and Mississauga, ON Buyer: Life Storage, Inc Property: St. Stephen Storage Location: Saint Stephen, SC Brokers and Brokerage: Jonathan M. Fawley, Brett R. Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 43,820 Unit Count: 348 (323 non-climate-controlled units and additional 25 parking spaces) Occupancy: 93% Property: Flatlander Self Storage Location: Davenport, WA Brokers and Brokerage: Ryan Layton of Argus Self Storage Advisors Buyer: LFIG1, LLC Unit Count: 160 boat/RV…

National Storage Affiliates Announces Management Promotion

National Storage Affiliates Trust today announced the promotion, effective July 1, 2022, of David Cramer from his role as executive vice president and chief operating officer to president and chief operating officer. We believe the Company will benefit from Dave’s elevated leadership role as well as his focus on operational execution and growth through acquisitions given his invaluable industry experience and proven track record of results.” Tamara Fischer, Chief Executive Officer, commented, “We are extremely pleased to announce Dave’s promotion to president of NSA. This promotion acknowledges his current and…

First Quarter Results for Absolute Storage Management

Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended March 31, 2022. 2022 Highlights for Three Months Ended March 31, 2022: Increased same-store revenue by 18.3% vs. the same period in 2021. Maintained Square Ft. and Unit Occupancy vs. the same period in 2021. Ended the period with 21% increase in GPI vs. the same period in 2021. Acquired nine (9) management contracts: four (4) operating facility and five (5) facilities at the completion of…

Introducing The Hatcher Coe Group of Marcus & Millichap

We are excited to announce that The Hatcher Group of Marcus & Millichap is now The Hatcher Coe Group of Marcus & Millichap. For nearly eight years, Gabriel has been essential in the completion of over 348 self storage transactions totaling close to $2.1 billion. He started from the ground up and continues to build upon his success as both a team player and leader.” “Gabriel has been an integral part of our success and has proven himself year after year, making a great name for himself and our team…