Author: Shinil Krishnan

Absolute Storage Management – Second Quarter (Q2) Results

Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended June 30, 2024. 2024 Highlights for Three Months Ended June 30, 2024: Increased same-store revenue by 1.7% vs. the same period in 2023 Recognized as Inside Self Storage (ISS) Best of Business Acquired four (4) management contracts: one (1) operating facility and three (3) facilities at the completion of construction 2024 Highlights for Six Months Ended June 30, 2024: Increased same-store revenue by 1.3% vs. the…

Storage Authority Obtains Financing from Bank Five Nine to Construct a Self-Storage Facility in Glassboro, NJ

Storage Authority® Buck Road has obtained financing from Bank Five Nine and has started construction. The project is 89,750 sq. ft. It is located at 125 Buck Road, Glassboro, NJ 08028. It is anticipated construction will take 1 year. Franchise owner Rick A is looking forward to being part of the local business community. “From day one, Storage Authority® has proven to be invaluable to help us push through numerous obstacles we encountered. Thanks to their good standing and strong relationships with lenders we successfully obtained financing. I am thankful…

Featured Broker: Matt English

Matt takes pride in understanding every aspect of a client’s needs. Prior to joining Storage Exchange, Matt worked for Oracle Corporation selling everything from ERP Systems to database licenses; this experience gave him the ability to navigate complex transactions having closed multi-million dollar deals with companies like Palantir Technologies and MedImpact. Matt graduated from California Polytechnic State University where he received a degree in Agricultural Business. Contact: Matt English, Associate 949-232-7380 matt@storageexchange.com

Recent Transactions: 8.06.2024 – 8.12.2024

Property: Premier Storage of Delaware Location: Delaware, OH Address: 3295 US-42, Delaware, Ohio Year Built: 1999 Year Expanded: 2024 Brokers and Brokerage: Gabriel Coe, Nathan Coe, Brett Hatcher and Michael Glass of the Hatcher Coe Group of Marcus & Millichap Acreage: 10.91  acres Square Feet: 68,053 Unit Count: 489 units (Mix of climate-controlled, non-climate-controlled units and parking options) Room for Expansion: Yes (37,625-square-foot expansion)   Portfolio: Barnes Storage (four-property portfolio) Location: Carrollton, GA Address: 3015 Hwy 61, 3439 and 3549 Carrollton Villa Rica Hwy and 2537 Hwy 166 in Carrollton,…

Featured Brokers: Jeffery A. Gorden, CCIM and Donnie Dodson

Jeff Gorden, CCIM has been a top producing broker since 2003. He has been active in commercial real estate for over a decade with experience in retail, office, industrial, and self-storage properties. Jeff is an advocate for community stewardship serving as the Chairman of the Chandler Board of Adjustment, previously as Chairman of the Chandler Leadership Institute, and as a member of several industry groups such as the National Association of Realtors, CCIM Institute, and currently the President of the Arizona Self Storage Association. Jeff earned degrees from both Temple…

U-Haul Plans 3-Story Self-Storage Facility in Hammond, IN

U-Haul purchased 2.7 acres in May to build a new facility in Hammond. Plans for a three-story building at 6303 Calumet Ave. include 676 indoor self-storage units. The new U-Box Moving & Storage of Hammond facility is slated for completion in summer of 2026. The current facility, U-Haul Moving & Storage of Hammond at 822 165th St., will continue operations remotely. The new units will be climate-controlled and offer high-tech security. “We are excited to develop land that has long sat empty and add to our current services available in…

Recent Transactions: 7.30.2024 – 8.05.2024

Property: Bear Valley RV Park and Self Storage (managed by Right Move Storage) Location: Hesperia, CA Address: 18435 Bear Valley Rd Hesperia, California Year Built: 1996 Buyer: Merit Hill Capital (Real Estate Investment Firm in Brooklyn, New York) Broker and Brokerage: Brian Somoza of The JLL Capital Markets Self-Storage team of JLL Acreage: 49.6 acres Unit Count: 726 units Occupancy: 87% VPD: 52,500 Vehicles Per Day Highlights: Consists of a mixture of single-story Permanent structure RV parking units Surface parking units Portable storage units Electronic gate access 24-hour video surveillance…

Direct Equity Source Announces Strategic Partnership with AAA Storage to Expand Self-Storage Portfolio across the United States

Direct Equity Source, a leading real estate private equity firm, is pleased to announce a strategic partnership with AAA Storage, an industry-leading self-storage company. Direct Equity Source, via its recently formed fund, will be the largest single investor in AAA Storage’s current multi-property Growth Fund I, and significantly expand its self-storage portfolio across the United States. This partnership combines Direct Equity Source’s extensive experience in real estate private equity and financial acumen with AAA Storage’s operational expertise and industry-leading storage solutions. Direct Equity Source’s investment will expand AAA’s ability to…

U-Haul Repurposes Abandoned Retail Lot for New Self-Storage in Warren, OH

U-Haul is now serving customers at 3394 Elm Road NE in Warren, site of the former Chase bank and Tops Friendly Market grocery store locations. The 7.8-acre property was purchased on July 30. U-Haul Moving & Storage of Warren North is currently serving customers out of a temporary retail showroom and is scheduled to complete renovations by the summer of 2025. Services available immediately include moving truck rentals, trailers, towing devices, boxes and moving supplies, and more. Download the U-Haul app for reservations or contact U-Haul of Warren North at…

California Developer Adding Self-Storage at Gateway Town Center in Jacksonville, FL

Gateway Town Center in the Brentwood area is in line for redevelopment as the California investor that bought about 10.7 acres there intends to add retail stores, self-storage and affordable housing. “It will be a full mixed-use project and I think it will be a nice fit for what is already there,” Global Building LLC President Joseph Zummo said July 30. There are no renderings, he said, and did not estimate a total investment. “We are still trying to look at all of the different possibilities and come up with…