Author: Shinil Krishnan

Combating Crime: 5 Tools To Protect Your Property And People

Ask anyone in the self-storage industry what their biggest concern is today, and most of us will list break-ins at or near the top of the list after seeing a rise in criminal activity at facilities over the last 5 years. In fact, according to a recent survey by Janus International, 85% of self-storage owner-operators say that theft and break-ins are top of mind, and 57% report that they’re dealing with repeated break-ins. But it doesn’t have to be this way. With cutting-edge technologies and services, you can address vulnerabilities…

SBA 504 Refinance Rule Changes

The SBA’s rule changes, effective November 15, 2024, will help loan clients in a number of ways, including making it easier to refinance debt. Also, the new rule change broadens the way businesses can use funds through refinancing, especially when they’re looking to expand. 1) For Stand-Alone Debt Refinance (Without Expansion): The loan-to-value limit is now up to 90% in all cases including requests for ‘cash out’ for other business expenses and special use properties. In addition, the 20% LTV cap on cash out for other business expenses is GONE!…

Storelocal Storage of McClellan Park, CA, Migrates its Operations to the Tenant, Inc., Self Storage Technology Platform

Storelocal Storage McClellan Park is a state-of-the-art storage facility that serves the North Highlands, Arden-Arcade, Rio Linda, Antelope, and Citrus Heights areas. To provide the best user experience to their tenants, and to streamline operational efficiencies, they have migrated their facility to Tenant, Inc.’s complete technology platform offering, including the Hummingbird Property Management Software platform. Tenant, Inc.’s suite of technology products is purpose-built specifically for the self-storage industry, allowing storage owners to provide a significantly improved user rental experience, advanced website security, and convenient, secure payment processing. “Storelocal in McClellan…

Self Storage Opens With Professional Management in Niceville, FL

Local owners of The Storage Place proudly announce the acquisition of the self-storage facility at 800 White Point Road Niceville, FL 32578. This facility, being managed by Absolute Storage Management (Absolute), features 493 units totaling 65,414 rentable square feet. It offers safe and secure climate-controlled and non-climate unit options to the local communities of Valparaiso, Destin and Niceville. NFO Group, LLC 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 August 9, 2024. Residents and businesses…

Self Storage Opens With Professional Management in Douglasville, GA

Local owners of Silo Self Storage proudly announce the opening of the self-storage facility at 9081 Georgia 5 Douglasville, GA 30134. This facility, being managed by Absolute Storage Management (Absolute), features 451 units totaling 63,525 rentable square feet. It offers safe and secure climate-controlled unit options to the local communities of Marietta, Town Center and Douglasville. Douglasville Self Storage LLC 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 October 7, 2024. Residents and businesses in…

Recent Transactions: 10.15.2024 – 10.21.2024

The self-storage transactions from October 15-21 highlight diverse market dynamics, with buyers targeting regions offering unique advantages. The deals in Glenmont and Corning, New York reflect demand in smaller, less saturated Northeast markets where stable local needs make properties appealing. In Dallas, Texas, the acquisition of Absolute Self Storage, underscores the city’s growth, driven by a strong economy and expanding population. Meanwhile, the sale of a five-property portfolio in Michigan and Wisconsin totaling 73,358 square feet at $3.9 million highlights the attractiveness of the Midwest, where lower acquisition costs and…

Declined?…

‘DECLINED’…few words in the English language create anxiety more than that one. It can be a college entrance application, a new car loan or a mortgage, it’s simply not fun to hear that word. It brings up all sorts of questions, ‘…was it my late library book in 2019, that new computer purchase at the big box store when I got behind in the payments years ago or the recent late on the department store credit card when my dog ate the statement?’ When it comes to mortgage loans, credit…

For What it’s Worth – MAI versus BOV

There are countless reasons why a property owner is looking for a current market value of their real estate asset(s) – many involving life events such as death, divorce, partnership disputes/dissolutions, retirement, wealth or estate planning, debt settlement, default, recapitalization and more. Sometimes it is simply when an owner has decided to sell. Determining a current fair market value can be achieved by working with a specialized real estate broker familiar with the type of property involved or may require engaging a licensed real estate appraiser to prepare a detailed…

RecNation Expands its Location Near ‘The Villages’ in Orlando, FL

RecNation Storage, a leading owner, operator and developer of specialized RV and boat storage facilities in the United States, announced the closing of its latest property in Fruitland Park, Florida, with a new acquisition positioned near “The Villages” in the Orlando area. This marks RecNation’s sixth location in the Orlando market, underscoring its commitment to meeting the needs of recreational enthusiasts. This latest acquisition complements RecNation’s dedication to providing exceptional service and convenience for customers nationwide. This acquisition is strategically located adjacent to the eastern entrance of The Villages, the…

Storage Unit Facility Opens at Former Rugg Manufacturing Company Property in Greenfield, MA

A storage unit facility has opened at the former Rugg Manufacturing Co. property. Premier Self Storage at 105 Newton St., which offers 197 climate-controlled units of various sizes, welcomed Mayor Ginny Desorgher at a ribbon-cutting ceremony for its grand opening last week. “It’s always a wonderful day for the city when any business is opening, and this is a wonderful addition to our community,” Desorgher told owners Jim and Ellen Boyle and their family. “I wanted to extend my congratulations to you and to wish you many years of success,…