Category: Self Storage News

Cushman & Wakefield Advises Bank of America in Sale of Iconic SF Office Tower, to U-Haul International, in Midtown Phoenix, AZ

Historic transaction marks one of largest owner/occupier office sales in U.S. and largest in Southwest since early pandemic. Arizona’s third largest office building sells for $23.7 million following foreclosure Cushman & Wakefield announced the firm has advised an entity controlled by Bank of America in the sale of 20 East Thomas Road, an iconic 25-story office tower totaling 548,938 square feet in Phoenix’s Midtown submarket. The third largest office building in the state of Arizona and third largest in the Phoenix market sold for $23.7 million to U-Haul International, a…

JLL Capital Markets Closed on a Refinancing Package for Self-Storage Portfolio in New York and New Jersey

JLL Capital Markets closed on a $115-million refinancing package for a portfolio of nine Tri-State self-storage facilities owned and operated by Storage Post. Nuveen Real Estate provided the first mortgage financing. Ownership has grown the original 633,364-square-foot portfolio, located in prime regions of New York and New Jersey, to 723,664 rentable square feet across 9,578 units. The New York assets are located in the Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights. The New Jersey assets are located in Haledon, Elizabeth, Linden and Perth Amboy. The JLL Capital…

1784 Capital Secures Bridge Loan for SoCal Self Storage in San Gabriel, CA

1784 Capital Holdings has secured a $41.3 million bridge loan for a Class A self-storage project in San Gabriel, Calif. Talonvest Capital Inc. arranged the note provided by a REIT. The bridge loan has a three-year term with two extension options, as well as interest-only payments throughout its duration. Because the self-storage development broke ground in 2022 and is still under construction, the funds from the loan will be used to repay the current construction debt and cover all costs associated with the loan. The development previously became subject to…

Self-Storage Investment Surge: Key Transactions and Trends from the Second Half of 2024

Overview StorTrack data shows steady activity in the self-storage sector in the second half of 2024, with 110 transactions completed across the United States. To date, multi-operators and REITs (Real Estate Investment Trusts) each represented over 40% of the total transaction volume, with investment activity largely concentrated in the Southeast. Multi-operators were especially active in the Midwest, completing five transactions involving Storage Rentals of America facilities in Michigan and Illinois. Meanwhile, REITs focused their efforts primarily on the Southeast, with Florida standing out as a key market. Transaction Breakdown by…

Self Storage Facilities Add U-Haul Rentals for DIY Movers in Loganville and Monroe, GA

U-Haul Co. of Georgia recently announced that two self-storage facilities had signed on as U-Haul neighborhood dealers to serve their communities in Walton County. Self Storage Loganville at 2390 Claude Brewer Road will offer essential services like U-Haul trucks, trailers, towing equipment, moving supplies, and in-store pickup for boxes. The normal business hours are 9 a.m.-5 p.m. Monday to Saturday and 12-4 p.m. on Sunday. You can reserve U-Haul products at this dealer location by calling (770) 466-5970 or visiting https://www.uhaul.com/Locations/Truck-Rentals-near-Loganville-GA-30052/031795/. Self Storage Loganville owner Nathan Purvis said he is…

10 Federal Storage Reports Record Third-Quarter Results and Expands Third-Party Management Platform

10 Federal Storage, a leader in autonomous self-storage operations, is pleased to announce record-breaking third-quarter performance, with standout growth across its offerings. Building on this success, the company is expanding its third-party management platform to a limited number of properties and select self-storage owners starting in Q1 2025. Over the past three months, 10 Federal has added 23 properties to its portfolio, demonstrating the growing demand for its proven, tech-enabled management model. Exceptional Q3 2024 Results in a Challenging Market In a self-storage market marked by declining street rates and…

New Modular Self-Storage Unit Launched at Texas Self Storage Association Annual Trade Show & Conference in Texas

AMDG Innovations announced an inexpensive, modular solution for self-storage owners at the Texas Self-Storage Association (TSSA) annual conference and trade show. While the product is new to the United States, it has been installed more than 200,000 times in other countries over 15+ years and has a long history of performance. Besides pricing, what makes it different from other modular systems is the fact that it is flat-packed and easy to deliver to any site. Two workers can fully assemble the unit in four hours or less with basic tools.…

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…

Safeguard Self Storage Receives 2024 New Industrial Construction Award; Recognized Among Top Projects at Queens Chamber of Commerce’s Building Awards Gala

Safeguard Self Storage is excited to announce that the newly constructed Safeguard Self Storage facility at 130-02 South Conduit Avenue has received the prestigious 2024 New Construction Award in the Industrial category. This recognition highlights the exceptional quality and innovation in design and construction that the project embodies. The 2024 Building Awards Gala will take place on Thursday, October 10, 2024, at The TWA Hotel at John F. Kennedy International Airport, celebrating excellence in the design, construction, and sustainability of projects across Queens. This year marks the gala’s 98th anniversary,…

Go Store It and StoreEase Tout Success of Virtual Management Partnership

Go Store It Self Storage and StoreEase announce outstanding operating results for the strategic partnership’s virtually managed self-storage facilities. In the second quarter, the 37 select sites saw a more than 9% increase in revenue and an 11.5% gain in net income compared to Q2 2023. Additionally, 2,643 new customers moved into virtually managed properties, with at least 60% interacting with a Go Store It Virtual Manager® before renting. The average size of the 37 facilities was 565 units. “Our results underscore the success of our collaboration with StoreEase,” said…