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JLL Arranges $14.88 Million Construction Loan for a New Class A Self-Storage Development Facility in Montvale, NJ

JLL Capital Markets announced today that it has arranged a $14.88 million construction loan for the development of a new Class A self-storage development in Montvale, Bergen County, New Jersey. JLL worked on behalf of the borrower, a strategic venture between Claremont Development, March Development and Battery Global Advisors, to secure the 42-month, floating-rate loan with extension options through Fulton Bank. Located at 21 Phillips Parkway, the property is currently improved with an 18,500-square-foot medical office building that will be demolished to develop the 129,889-square-foot, three-story building. The property will…

Byline Bank Funds $9.25 Million Office-to-Self-Storage Adaptive Reuse Project in Lombard, IL

Byline Bank’s Commercial Real Estate Group (BCREG) has closed on a $9.25 million loan with LSC Development to fund the conversion of a 2000 vintage office building, prominently located at the intersection of I-355 and North Avenue, into a fully climate-controlled, state-of-the-art self-storage facility. The 103,109-square-foot building, located on a 10.5-acre site at 665 W. North Avenue in Lombard, Ill., will be transformed into a 67,853-square-foot Class A, climate-controlled self-storage facility and provides 64 secured surface parking spaces for both RVs and regular vehicles across 14,800 square feet. Two loading…

Large Self-Storage Facility and Space for RVs, Boats and Cars Opens in Manheim, PA

A large indoor storage facility has opened near Interstate 283. U-Haul Moving & Storage of Lancaster opened last month on a 13-acre site at 1985 State Road in East Hempfield Township, Lancaster County. The facility has 1,167 indoor climate-controlled self-storage units; a U-Box warehouse with a capacity for 1,000 portable moving and storage containers; 70 recreational vehicle/boat/vehicle storage spaces and 49 outdoor drive-up mini-storage units. U-Haul Moving & Storage of Lancaster rents trucks, trailers and towing devices and sells boxes and moving supplies from its retail showroom. The facility in…

Baranof Holdings Purchased an Industrial Land Site for $28 Million to Pave Way for a New Self-Storage Facility in Hollywood, CA

The largest land sale in Hollywood for the first quarter goes to Baranof Holdings, which acquired a 1.29-acre industrial land site for $28 million. Dallas-based Baranof Holdings, a developer and asset manager of self-storage facilities, has purchased a 1.29-acre industrial land site in Hollywood for $28 million in order to pave the way for a new Los Angeles self-storage facility. The transaction marks the largest land sale in Hollywood during the first quarter of the year. Baranof Holdings acquired the site at 956 Seward St., which previously operated as a…

A Step-by-Step Guide to ECRI – By Peter Smyth, White Label Storage

In this video, White Label Storage Co-Founder Peter Smyth breaks down how to utilize ECRI to improve your profitability without tanking customer satisfaction. The walkthrough utilizes a spreadsheet template, which you can download here to start running your own ECRI program and optimizing rents. Existing Customer Rate Increases (ECRI) is a fundamental part of revenue management for self-storage facilities. This process enables owners and operators to move tenants from low promotion rates to pro forma rates that bring in more revenue. ECRI works because the psychology of customers changes once…

SmartStop Self Storage REIT, A Premier Owner And Operator Of Self Storage Facilities in the United States and Canada, Announces Pricing of Underwritten Public Offering

SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), an internally-managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced today the pricing of its public offering of 27,000,000 shares of common stock at a price to the public of $30.00 per share. SmartStop has granted the underwriters a 30-day option to purchase up to an additional 4,050,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. Shares of SmartStop’s common stock are…

Hiring a Boots on the Ground Manager for Your Remote Managed Self Storage

Managing a self-storage facility efficiently requires having the right personnel on-site. However, not every facility needs a full-time manager. A part-time, on-the-ground manager can be the perfect solution to handle daily operations without the commitment of a full-time employee. Here’s a step-by-step guide to hiring the ideal candidate for your self-storage business; 1. Define Your Needs Before starting the hiring process, assess your facility’s specific requirements: How often do you need on-site management—daily or a few times a week? What tasks will they be responsible for? Will they handle customer…

White Label Storage Partners with StorageReach to Scale Customer Review Generation

Online reviews are the lifeblood of local businesses. Seventy per cent of consumers say that they regularly check the reviews before visiting a local business. And it’s no different in self-storage: potential tenants rely on reviews to help them vet facilities. Digital reviews also affect how businesses rank in local search results in Google, which is another indicator of just how vital they are for self-storage facilities in all markets. But reviews are notoriously difficult to obtain. Studies show that people are less motivated to share a positive experience than…

Self-Storage Market of the Month: Euless, TX

StorTrack’s featured market this month is Euless, TX. Euless is a thriving suburb in the Dallas-Fort Worth metroplex, offering easy access to major economic hubs and DFW International Airport. With a strong job market driven by aerospace, logistics, healthcare, and technology, the city continues to experience rapid growth, rising home values, and increasing demand for development. How is Euless as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment.…

5 Questions With Travis Lawhorne, R3 Southeast Regional Sales Manager, Janus International Group

In this episode of 5 Questions With…, we chat with Travis Lawhorne of Janus International about key seasonal self-storage facility upgrades, creative ways to add unit sizes, when to replace ageing doors and the tax and revenue benefits of renovations—including what to ask when adding portables. Watch the full video now!