Recent Transactions: 4.25.2023 – 5.01.2023

Property: Ace Storage Location: Billings, MT Year Built: 1993 Brokers and Brokerage: Brandon Lavern, Aaron Sanchez and Scott Schoettlin of SkyView Advisors Acreage: 1.73 Acres NRSF: 33,600 Unit Count: 201 units Occupancy: 99% Vehicles Per Day: 11,600 Highlights: The subject property offers 3 buildings of well-maintained self-storage options The buyer will have the opportunity to increase revenue by implementing a tenant insurance program Capability to raise rental rates 23 percent to meet the market level No planned or new self storage construction in the five-mile radius Direct view of the…

Why Boat/RV Storage Is a Smart Venture for Self Storage Operators and Other Investors

The even better news is interest in boats and RVs doesn’t appear to be waning. In fact, the U.S. RV market is forecast to grow from a 2021 value of $55.9 billion to $87.98 billion by 2028, according to global market-research firm Fortune Business Insights Pvt. Ltd. In the past five years, more than 2.5 million RVs and 1.6 million motorboats have been registered in the United States.” A surge in boat and RV sales and a correlating need for vehicle-storage space has created fresh opportunities for investors from self…

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 team…

New Management For Local Self Storage Facility in Aiken, South Carolina

Local acquisition of Absolute Storage is bringing professional self storage management to the city of Aiken. The facility is located at 1504 Silver Bluff Road Aiken, SC 29803. This facility is comprised of 349 units totaling 46,775 rentable square feet, providing safe and secure climate-controlled unit options to the local communities of New Ellenton, Aiken, and Augusta. The ownership group has contracted with Absolute Storage Management (Absolute) to provide professional self storage management services and the facility is officially under Absolute’s management as of 4/19/2023. If you would like to…

Public Storage Plans New 301,451 Sq Ft Building in Los Angeles’ Baldwin Hills Neighborhood

The new six-story building would consist of approximately 294,731 square feet of self storage use and approximately 6,720 square feet of ground-floor retail use, for a total of approximately 301,451 square feet of floor area.” Los Angeles’ Baldwin Hills neighborhood could soon see some much-needed self storage added to the area, according to a recent proposal submitted to the City. The proposal comes from Public Storage with designs by Ware Malcomb and would include a six-story building with both retail and self storage uses. The project site is located at…

Recent Transactions: 04.18.2023 – 04.24.2023

Property: Morganton Development Site Location: Morganton, NC Brokers and Brokerage: Frank DeSalvo and David Perlleshi of Franklin Street – Commercial Real Estate & Insurance Brokerage Acreage: 2.13 Acres NRSF: 24,750 Pro Forma NOI: $212,859 Parcel Number: 31678; 0031680 Highlights: Site is approved for non-climate self storage This site benefits from strong market rates that should continue to increase thanks to the presence of institutional competitors This site is strategically located just off US Highway 70 (Carbon City Rd) which sees 16,500 VPD 5-mile population of over 35,000 people Morganton is…

Featured Broker: Bobby Loeffler

In 2009, Mr. Loeffler formed The Loeffler Self-Storage Group – a commercial brokerage firm directed exclusively on representing the buyers and sellers of storage properties throughout the West. He has closed transactions ranging from a $33,000,000 lease-up portfolio to an $800,000 self-storage facility. Since 2002 he has sold over $400 Million worth of commercial properties. Prior to forming LS-SG, Bobby was a Vice President of Investments for Marcus & Millichap and was based out of their Roseville office. He was a Director of the National Self-Storage Group and received various…

Featured Broker: Tenere Williams

Tenere Williams is a Senior Associate in the Elizabeth Clark Group at Douglas Elliman Commercial and is based out of the firm’s Beverly Hills office. Tenere’s 18 years in the real estate world have allowed him to build a business that is predicated on helping individuals, estates and families increase their net worth through the sales and acquisition of cash-flowing commercial real estate. Tenere’s expertise lies in 1) creating real estate portfolios for new investors and 2) helping to transfer equity from the sales of existing properties to higher-performing properties…

Store Space Forms Join Venture with Storage Point Capital to Pursue Self Storage Acquisitions

We want to be a conduit to help Store Space reach its goal of 500 facilities nationwide,”  – Matthew Horne, Co-Founder and CEO of Storage Point. As Store Space continues to expand, this partnership will help maintain and create a robust acquisition pipeline,”  – Rob Consalvo, Co-Founder and President of Store Space Store Space Self Storage, which operates more than 100 facilities, has entered a joint venture agreement with real estate investment firm Storage Point Capital to pursue acquisitions. The partnership includes the deployment of a Storage Point feeder-fund investment…

Featured Broker: Caroline Holliday

With experience in both residential and commercial property investments, Caroline provides an in-depth understanding and industry insights into the self storage real estate market. Prior to joining Storage Exchange, she worked as an event coordinator focused on philanthropic fundraising. Caroline attended the University of Colorado where she earned her BA from the college of media & communication and served as co-captain of the women’s Soccer team. Contact: Caroline Holliday – Associate, Storage Exchange caroline@storageexchange.com