Warsaw Planners OK Preliminary and Final Plats for Storage Business

All Secure Self Storage has three buildings planned in the first phase, one of which is climate-controlled, which means it has heating and air conditioning for temperature control, she said. The other two buildings will not be heated.” – Debra Hughes, civil engineer with Surveying & Mapping A new self storage business should be up and running along Enterprise Drive in Warsaw by October after the Warsaw Plan Commission quickly approved a preliminary plat and final replat for it Monday. In presenting the petition from All Secure Self Storage to…

U-Haul Opens at Former Space City Self Storage in Houston

It’s no surprise that people are packing up their U-Haul trucks and heading to Houston. This city is constantly growing. We’re excited to offer a clean, secure and reliable storage product for our new Houston residents, and our lifelong neighbors as well.” – Phil Frederick, U-Haul Company of Southwest Houston president U-Haul® has purchased the former Space City Self Storage facility at 13123 Hiram Clarke Road to better serve its customers in the Houston community. The property was acquired on May 25. Now U-Haul Moving & Storage of Hiram Clarke,…

Featured Broker: Hunter Hicks

Hunter has an extensive background in real estate investment, consulting, business development, and sales. He attended Vanderbilt University and began his career at the William Morris Agency. Hunter has been a successful commercial and residential real estate broker for Keller Williams and Fathom Realty over the last 10+ years, developing a wide knowledge base and expertise in efficient real estate transactions. Hunter joined the Storage Exchange team to specialize in commercial sales, with a focus on data-driven strategies and valuations to meet the needs of his clients. He simultaneously provides…

Self Storage Company Presents to Sayreville Planning Board for Site Approval at Former Club Pure Location

100,500 sq. foot facility would take the place of the iconic nightclub that hosted hundreds of weddings, bar mitzvahs, corporate events, and parties” The Sayreville Planning Board heard testimony about the development of a self storage facility at the former Club Pure (1970 Route 35) during its June 7 meeting. The facility will be operated by InSite Development Partners, a Torrance, CA-based self storage developer, operator, and manager. The developer seeks site plan approval for the proposed facility on Route 35. InSite builds storage locations under its SecureSpace brand all…

Redding Self Storage Facility Lands $22 Million in Construction Financing

EagleBridge Capital, a Boston-based mortgage banking firm, has secured construction financing of $22 million for a new self storage facility in Redding, Connecticut. The facility, currently under construction, will feature 675 units of various sizes, as well as flex/industrial units. It will be equipped with 24/7 key card security and gated access. The property is situated on an 8-acre site on Ethan Allen Highway (Route 7). The location offers access to Route I-95 and Merritt Parkway. EagleBridge’s Brian Walsh arranged the financing through a national bank. Source

SROA Capital Expands Bridge Financing Program for Self Storage Industry

We are looking for investment opportunities across the capital stack in self storage. SROA is excited to continue to expand its credit investing prowess to its broader investor base having round-tripped nearly $100MM in credit strategy with strong returns over the past 5 years” – Benjamin S. Macfarland, III (CEO, SROA Capital) SROA Capital (‘SROA’), a vertically integrated real estate investment and technology company focused on investing in self storage, has completed the first closing of its ninth flagship fund, SROA Capital Fund IX (‘Fund IX’) this April. Up to…

Recent Transactions: 6.06.2023 – 6.12.2023

Property: Central Virginia Stabilized Self Storage Portfolio Location: Oklahoma City, OK Buyer: LSC Development Brokers and Brokerage: Michael Brewster, Drew Quinn, Brad Peterson, El Warner and Charley Simpson of Colliers Square Feet: 161,190 Highlights: Plans for an adaptive reuse project including retail outlets and a self storage facility   Property: Storage General Cedar Location: Cedar City, UT Buyer: Utah Built LLC Seller: Garn Development Brokers and Brokerage: Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 456,758 Unit Count: 2,133 units Highlights: Electronic gate access…

Self-Storage Capital Markets Update: 2Q 2023

Following the record-breaking performance of the self-storage sector coming out of COVID-19, and the unprecedented transaction volume seen during 2021 and 2022, self storage stakeholders have been asking the question: what is next for self-storage? Will heightened investor demand for self-storage continues to fuel the sector’s capital markets? And was the operational performance we saw during the past two calendar years just a flash in the pan, or is it the new normal? Funds raised for self-storage are at an all-time high, both from private capital and institutional sources. Yet…

Climate-Controlled Units Offer Advantages as Summer Temperatures Rise

Rising temperatures can have significant effects on your tenants and their property in units without climate control. Repeated exposure to heat and humidity can cause irreversible damage to their possessions or create a safety concern for a tenant in an overheated unit. Facility owners can help avoid this by offering climate-controlled units. To preserve the integrity of your tenants’ stored belongings and to improve the customer experience, we recommend considering climate-controlled storage units at your facility. These specialty units are designed to regulate temperature and humidity levels regardless of the…

Recent Transactions: 5.30.2023 – 6.05.2023

Portfolio: Central Virginia Stabilized Self Storage Portfolio Location: VA Brokers and Brokerage: Nathan Coe, Brett Hatcher, Gabriel Coe and Brian Hosey of The Hatcher and Coe Group of Marcus & Millichap NRSF: 85,690 (Combined) Unit Count: 232 climate-controlled and 413 Non-climate-controlled units (Combined) + 27 Parking Spaces Physical Occupancy: 92% Highlights: Nearly 20% Population Growth Since 2000 Two Commercial Units and One Portable Unit   Property: Storage Sense Location: Swatara Township, PA Closing Deal: $7.8 Million Buyer: Moove In Self Storage Seller: Volant Development Company Square Feet: 56,850 Unit Count: 461…