Author: Alison DeJaeger

Public Storage Enhances Portfolio Coverage

Public Storage (NYSE:PSA), the leading owner, acquirer, developer and operator of self storage properties, announced today the acquisition of the high-quality All Storage portfolio for $1.5 billion. The portfolio comprises 56 self storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage’s existing submarkets. With the addition of the acquisition properties, the Company’s Dallas-Fort Worth portfolio will be unmatched in coverage and quality,…

Life Storage Pays $43 Million for Two Buildings in Miami-Dade

A New York-based real estate investment trust made a hefty play on the Miami-Dade County self-storage market with the $43.5 million purchase of two facilities. Life Storage bought the buildings at 201 Northwest 37th Avenue and 6850 Southwest 81st Terrace in two deals. Entities tied to Kirchhoff Companies sold the buildings. Life Storage paid $22.5 million for the eight-story, 142,207-square-foot building on 37th Avenue. The property, which is in Miami, was constructed in 2018, property records show. Kirchhoff’s affiliate bought the 0.7-acre lot in 2016 for $1.3 million. In the…

SpareBox Enters Austin, Expands in Arkansas

SpareBox has acquired four facilities in Greater Austin and Rogers, AR, expanding its portfolio by a total of 700,000 square feet. The company purchased the assets from four different sellers. The Austin acquisitions are SpareBox’s first foray into the market. While the Arkansas asset is the fifth SpareBox location in the state’s northwest region. Since its launch last year, the company built a portfolio of 6.3 million square feet across 95 facilities. Last month, SpareBox made one of its largest purchases expanding its footprint by 1.9 million square feet of storage across…

Recent Closings: 10.26.21 – 11.1.21

Property: Pine Island Storage Location: St. James City, FL Brokers and Brokerage: Meir Perlmuter, Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 41,085 Unit Count: 343 Highlights: Over $50,000 In Capital Improvements: LED Lighting, Paint, Siding, Roof Touch-Ups Closest Storage Facility Is Six Miles Away In 2011, a Photo Voltaic Solar System was Installed Reducing Energy Usage to Zero Property: Cherryville Self Storage Location: Cherryville, PA Brokers and Brokerage: Luke Dawley, Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher Group…

StorTrack Releases ‘StorTrack Explorer’ to Offer Self Storage Professionals Free Access to Interactive Data Map for All Markets

StorTrack, the premier international self storage data company, recently launched ‘StorTrack Explorer’ which offers an interactive map, improved user search experience and new formatting for accessing primary, secondary and tertiary market analytics on over 58,000 existing facilities and nearly 2,000 development projects in the US, the UK and Canada. Self storage investors and developers can choose from free, basic or unlimited account options. Free accounts have access to StorTrack Explorer’s mapping tool and can view net rentable square footage, square feet per capita, existing facilities, population metrics, average rates per…

Protecting Your Investments from Inflation

In today’s investment market, the main concern on everyone’s mind is the potential for a significant uptick in inflation. Over the past ten years, the average rate of inflation in the U.S. was about 1.8%. However, many experts are now calling for higher than normal inflation due to the impacts of the coronavirus stimulus bill, low interest rates and a rapidly recovering economy flooding the market with cheap money. The result will be increased competition for goods and services resulting in rapidly rising costs and inflation. The general way to…

Featured Broker: Kristen Wilson-Asman

Kristen Wilson-Asman is a licensed real estate agent and a senior real estate advisor with SVN. She received her Bachelor of Science in accounting from Miami University of Ohio. After graduation, Ms. Asman worked as an auditor for Deloitte and Touche in Cincinnati, OH. Ms. Asman began her real estate career with Matthews Click Bauman in Columbus, OH and later worked at McKinney Properties and Horizons Real Estate in property management and development before joining SVN in 2003. Ms. Asman has worked in sales and leasing of all real property…

Scottsdale, AZ

Using the Market Discovery Data Tool from StorTrack’s MarketView Platform (MVP), we were able to review data on Scottsdale, a city in Maricopa County, AZ. Rates have been trending upwards by 33% over the past year however there are nine developments in the pipeline consisting of an estimated 755,000+ gross square feet and nearly ten square feet of existing storage per capita. To view additional metrics, visit the link labeled “Click Here to View Market Information“.

Coming to Gillette: U-Haul Developing Land for New Store by 2023

A new U-Haul® retail, moving and self-storage facility is coming to an undeveloped site at 1125 Boxelder Road in Gillette. U-Haul Moving & Storage of Gillette is scheduled for completion by 2023. Plans call for an attractive three-story structure encompassing more than 100,000 square feet. The store will offer 700-plus indoor, ADA-accessible self-storage rooms with climate-control options and high-tech security features at affordable price points. “Our closest U-Haul-owned and -operated facility to Gillette is over 100 miles away in Casper,” said Paul Johnson, U-Haul Company of Wyoming president. “Opening a convenient self-move facility with state-of-the-art storage is important to…

Clutter Refinances New York Self Storage Properties with $118 Million Loan

Los Angeles-based storage operator Clutter has refinanced a four-property portfolio it owns in the New York metro area with a  $118.3 million bridge loan. The non-recourse loan was negotiated by Talonvest Capital Inc. and features a low floating rate and a three-year term with two extension options. The level of support we received from Talonvest in managing and executing the lender process was phenomenal. We truly benefited from partnering with a team that understood our needs and kept our best interest in mind.” The four-property portfolio is located in Yonkers,…