Storage Exchange Closes Over 218,000 NRSF in Q3, 2023: Three Self Storage Transactions are Successfully Facilitated

Storage Exchange announced the closing of three self-storage transactions in Q3 of 2023, comprising of over 218,000 NRSF. These properties are located in South Dakota and Texas. 1. Simply Stor-It: Located in Mitchell, SD, this property contains 109,410 rentable square feet, including 25,995 square feet of climate-controlled units. Caroline Holliday, Associate, & Hunter Molnar, Managing Director, for Storage Exchange, facilitated the sale on behalf of the seller. 2. All Around Storage: This 94,292 sq. ft. facility is located in Athens, TX and is well-leased at 100% physical occupancy. The seller…

Featured Vendor: Box Pro Consulting LLC

Derek Walker is the Principal of Box Pro, a consulting firm specializing in self-storage and RV/boat storage feasibility studies. Throughout Mr. Walker’s career, he has developed and managed more than 25 facilities and conducted hundreds of studies on properties throughout North America since 2010. Mr. Walker has also worked in economic development consulting, structuring large-scale mixed-use revitalization projects with public and private clients. In addition to self-storage and RV/boat storage, Mr. Walker has also conducted feasibility studies for hotel/resort, industrial, multifamily, office, and other mixed-use projects. He has a Bachelors…

Changes to SBA SOP Rulebook

Changes to SBA Rulebook Summary of Key Changes: Key Improvement Prior to August 1, 2023 As of August 1, 2023 SBA Eligibility Determination 7(a) & 504 Lenders were responsible for determining program eligibility under delegated authority; SBA could repair or deny a guaranty purchase request for eligibility SBA was responsible for determining eligibility for non-delegated loans SBA is responsible for determining eligibility for all loans based on ETRAN data submissions, and SBA will not repair or deny a guaranty purchase request for eligibility if SBA determined the borrower eligible Affiliation…

Featured Broker: Kim VanDelinder

Kim is a lifelong Montana resident and is a licensed Real Estate Agent as well as a licensed Certified Public Accountant in the State of Montana. She brings years of experience in management, finance and operations activities from small to multi-million dollar companies. Kim started her career in banking before transitioning into a management information systems position in the food service supply industry. She subsequently attained her CPA license and has over 27 years of experience running her tax and public accounting practice. Over 11 years ago she also successfully…

National Storage Opens at Frenchtown Township’s Former Kmart Site in Monroe, MI

The former Kmart and adjacent Kmart Service Center buildings have been transformed into a self-storage center. Land parcels in the parking lot are for sale, and other businesses are expected to be built at the site. On Thursday, a ribbon-cutting and grand opening event took place at National Storage, 1290 N. Monroe St. The business employs two and offers 782 rentable, climate-controlled storage units. “We have over 70,000 square feet of rental,” Jacob Fuller, True Storage operations manager, said. “The former tire store is where the rents office is located,…

Go Store It Opens New Site in Baton Rouge, LA

Go Store It is now open at 1683 O’Neal Lane in Baton Rouge. The facility features 86,680 square feet of space, with more than 550 storage units. Climate-controlled units are available. This is the first Baton Rouge location for North Carolina-based Go Store It. The company has 88 locations across the U.S., including one in Lake Charles. The self-storage business is located in a former Hobby Lobby building, which Go Store It bought in May 2021 for $3.9 million. Source

StorSafe Self Storage Expands Facility in Merrillville, IN

StorSafe Self Storage of Merrillville recently expanded by two new buildings. The additions offer 12,000 square feet more vehicle space, which is climate controlled. The parking recently was repaved and ready for a variety of recreational vehicles. “This expansion is more than just offering the area’s self-storage consumers a unique market service, it’s also about enhancing operational efficiency and setting the stage for substantial investor ROI,” said Tom Bretz, CEO of StorSafe. “Our focus is always on delivering profitability, in part by delivering the very best customer experiences.” StorSafe (Merrillville):…

Cooper Companies Inc. Announces the Completion of Site Improvements for its Self-Storage Facility in Flagstaff, AZ

Arizona self-storage developer and operator, Cooper Companies Inc., has announced the completion of site improvements of the 104,672-sf three-story climate-controlled self-storage facility at 1683 West Route 66 in Flagstaff, AZ. The excavation work on the new construction site took 2 months to complete. The contractors, TLW Construction and 108 Excavating, completed the excavation with a portion of the rock removed to be reused during construction and landscaping. “Finishing the challenging site improvements was an important step towards completion of this project,” said Mark Hanneken of Cooper Companies, Inc. The General…

City Approves Self-Storage Facility at Former Lockley Manufacturing Site in New Castle, PA

City officials on Monday paved the way for the demolition of the vacant Lockley Manufacturing building for the construction of a four-story self-storage facility. “This is an opportunity,” attorney Angelo Papa, who represents the developer, told the Zoning Hearing Board of Appeals during a Monday hearing. “This town has to survive and find new ways to use properties. This isn’t a tattoo parlor, but a $5 million building. This area will be beautiful.” Zoning Hearing Board members Rich Gormley, Bess Ondako and Ronald Davis agreed to waive zoning requirements for…

Lawrenceburg Self Storage Celebrates Grand Opening Next to Lawrenceburg Fairgrounds, IN

Giveaways, a food truck and kids activities highlighted a beautiful Saturday at Lawrenceburg Self Storage. The new storage facility at 200 Speedway Drive, next to the Lawrenceburg Fairgrounds, celebrated their Grand Opening on Saturday. They did so by giving away a 65-inch TV, gift cards, and first month free storage to a number of attendees. Lawrenceburg Self Storage features a variety of storage units that are open for access 24 hours a day for residential and commercial customers. The top-quality climate-controlled units keep your items both cool and dry no…