Safeguard Self Storage Receives 2024 New Industrial Construction Award; Recognized Among Top Projects at Queens Chamber of Commerce’s Building Awards Gala

Safeguard Self Storage is excited to announce that the newly constructed Safeguard Self Storage facility at 130-02 South Conduit Avenue has received the prestigious 2024 New Construction Award in the Industrial category. This recognition highlights the exceptional quality and innovation in design and construction that the project embodies. The 2024 Building Awards Gala will take place on Thursday, October 10, 2024, at The TWA Hotel at John F. Kennedy International Airport, celebrating excellence in the design, construction, and sustainability of projects across Queens. This year marks the gala’s 98th anniversary,…

Hernandez Development and XSITE Real Estate Receive Planning and Zoning Approval on Class-A Self Storage Facility in Naperville, IL

Hernandez Development and XSITE Real Estate have announced the site plan approval from the Planning and Zoning Department of DuPage County for a Class A Self-Storage facility and mixed-use development situated in the thriving Village of Naperville, IL. Upon completion of construction, this project will feature a Class A climate-controlled self-storage facility, a one-story Little Sunshine Playhouse & Playschool Facility, and a drive-thru-only Scooter’s Coffee. The total square footage of the self-storage facility will be 120,300. The development is located on 75 th Street. With a daily volume of 41,900…

Featured Broker: Ingla Robinson

Ingla Robinson is the Vice President of Finance & Operations of Calvary Realty and is responsible for organizing, planning, and managing the internal structure of the company. Ingla takes a sophisticated and nuanced business perspective, enabling her to oversee the continued growth of Calvary Realty to keep in line with the company’s goals and visions. Growing her career in both corporate and start-ups, Ingla has helped cultivate the growth of Calvary Realty by overseeing the financial planning, budgeting, cash flow, investment priorities, and policy matters of the company.

Recent Transactions: 10.01.2024 – 10.07.2024

The recent self-storage transactions, ranging from the record-breaking $91 million sale in Cerritos, California, to smaller acquisitions in markets like Tuttle, Oklahoma, and Danville, Arkansas, highlight investors’ focus on a diverse portfolio strategy. High-demand urban centers (e.g., Cerritos, Tacoma) attract investors due to dense populations, strong economies, and limited land supply. At the same time, suburban and rural markets offer opportunities for market penetration with less competition. Investors are also targeting facilities with high occupancy rates and a mix of unit types, reflecting a strategy to capitalize on steady cash…

Self Storage Market of the Month: Davis, CA

StorTrack’s featured market this month is Davis, CA. Davis is a college town known for its eco-friendly initiatives and strong community focus. Located near Sacramento, it serves a diverse population, including students from UC Davis, local residents, and nearby agricultural communities. How is Davis as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.   Self Storage Market Metrics for Davis, CA   Current Supply: There is a…

StorTrack’s National Transactions Report: August 2024

In recent months, investment activity in the self-storage market saw a sharp decline, with just 25 transactions totaling $131 million, a significant drop from the 1,203 deals and $6.77 billion seen in Q4-2021. This downturn, driven by rising interest rates, inflation, and oversupply concerns, has shifted investor focus to larger, high-value properties. By Q3-2024, transaction volume had plummeted by 93% compared to last year. However, the average building size per deal rose by 51%, and the average sale price surged by 171%, indicating more selective investment in high-quality assets. A…

The Challenge of Valuing Lease-Up Deals in Today’s Market

Lease-up deals have always been challenging to value compared to stabilized storage properties, but that challenge has become even greater in today’s market. With numerous macro and micro-economic variables, forecasting how a property should be expected to perform five years from now is a tough call. Below, we highlight the three most pressing questions when valuing a lease-up property. What Are Street Rates? Street rates have declined following their peak in 2020 and 2021, which presents a challenge when underwriting a lease-up property. Lease-up deals are typically underwritten with the…

Evaluating The Current Interest Rate Landscape – Was It Really That Bad To Begin With?

Today’s real estate markets, including self-storage, are slower than in years past. Much of what you hear today is all about interest rates and what the Fed is going to do next. Sellers are hoping to get yesterday’s prices and most of the buyers today tend to be very experienced self-storage owners/operators who are being much more disciplined with their underwriting. Thus, the market for buying and selling self-storage is slower and more difficult these days. How long will it last? History tells us that real estate cycles are almost…

Housing with Self-Storage Proposed for Woodland Park in Herndon, VA

Space in Herndon’s Woodland Park neighborhood that was previously approved for office uses could flip instead into a mostly residential building. The Texas-based developer Trammell Crow Residential has purchased the contract for a little over three acres of vacant land at the intersection of the Dulles Airport Access Road and Monroe Street so it can construct an apartment building with 320 units and nearly 118,000 square feet of storage space. Renderings in a rezoning application submitted to Fairfax County last Friday (Sept. 20) suggest the building will part of Trammell…

StoragePRO Expands Management Portfolio with Six New Properties in California

StoragePRO® Management, Inc. (StoragePRO®), the leading independent third-party self-storage management company in the U.S., proudly announces the addition of six new properties to its management portfolio in California. This strategic expansion underscores StoragePRO’s commitment to empowering independent self-storage owners with the resources and expertise to achieve superior business performance—a philosophy they call Better Business™. The newly managed properties include: Missouri Flat Storage Depot, Placerville, CA Lincoln Ave. Self Storage, San Jose, CA Elkhorn RV & Self Storage, Rio Linda, CA Coastside Self Storage, Half Moon Bay, CA Contain-It-Self Storage, North…