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Major Self Storage Expansion in Upper East Side, New York City

Manhattan Mini Storage Announces Expansion Plans to Add 65,000 Square Feet of Self-Storage in Upper East Side.” Manhattan Mini Storage is expanding its reach on the Upper East Side with plans to repurpose the former CMX Cinema into self-storage. The 6-level conversion will add 65,000 net rentable square feet of storage and 1,200 climate-controlled units to the area by 2024. Manhattan Mini Storage has taken a strong stance on green building practices and sustainable construction solutions with this project. Weyen Burnam, Global Director of Real Estate said, “Upcycling unused or…

StorageVault to Acquire Three Locations for $21.8 Million

Storagevault Canada Inc. (“StorageVault”) (SVI-TSX) has agreed to acquire three locations from three vendor groups (collectively, the “Vendors”) for an aggregate purchase price of $21,825,000, subject to customary adjustments (the “Acquisitions”). Two of the Acquisitions are arm’s length and one for $13,000,000 is a related party acquisition (the “Related Party Acquisition”) with Access Self Storage Inc. (“Access”) as the Vendor for that Acquisition. It is anticipated that the Acquisitions will close in Q1 and Q2 2023. Two of the assets are located in Nova Scotia and the other in Alberta.…

Recent Transactions: 03.28.2023 – 04.03.2023

Property: Budget Self Storage Location: Laredo, TX Broker and Brokerage: Jon Danklefs of Marcus & Millichap Acreage: 1.60 acres Unit Count: 199 units Property: Turbo Storage Location: Shelbyville, TN Brokers and Brokerage: John C. Lindsey and Matt Rosendale of Lindsey Self Storage Group NRSF: 9,300 Portfolio: Canoga Avenue Property Locations: Woodland Hills and Diamond Bar, CA Closing Price: $69.6 Million & $17 Million Buyer: William Warren Group Seller: Storage, Etc. Broker and Brokerage: Larissa Belova of CBRE Square Feet: 107,000 & 18,000 Unit Count: 199 units Property: Public Storage Location:…

Featured Broker: Kirk Martin

Kirk Martin, a graduate of the University of Wisconsin – LA Crosse with a degree in Finance and Accounting, covers the Midwest territories for Lindsey Self Storage Group. Kirk has facilitated several transactions in the Wisconsin, Minnesota, Michigan, Missouri, Iowa, Ohio, North Carolina, South Carolina and Texas markets. While ensuring his clients achieve the maximum sale price for each transaction through his work ethic and deep market knowledge, Kirk takes pride in developing relationships that go beyond the profit and loss statements.

New Self Storage Facility Set to Open in Fayetteville, NC

  We take pride in filling a need for high-quality self storage units for our nation’s service members. In terms of investment, adjacency to military bases offers a solid and stable return for investors, which is why we selected this market.” MV Investment is set to open a new self storage facility in Fayetteville, North Carolina, on April 1. Located at 5234 Raeford Road, the 105,000 gross square-foot complex offers 808 units ranging in size from 5×5 to 10×20. The complex will address an acute need for climate-controlled self storage…

Recent Transactions: 03.21.2023 – 03.27.2023

Property: A-AAA Mini Storage Location: Torrance, CA Brokers and Brokerage: Cameron Vale, and Andrew Plunkett of Berkshire Hathaway NRSF: 17,194 Unit Count: 288 units Property: Eldon Self Storage Location: Eldon, MO Closing Price: $1.5 Million Brokers and Brokerage: Robert Cook, Sean Delaney and David Saverin of Marcus & Millichap Highlights: 6.2 sq/capita of storage in a 3-mile radius This deal includes a long-term warehouse lease with new 3-year extension The building features all steel structures, security cameras, and lighting throughout Property: CHR Storage and Rentals Location: Gaffney, SC Broker and…

Cushman & Wakefield Releases U.S. Self Storage Performance Report

With the sector’s strong fundamentals, we expect to see continued growth, investment, and a surge of acquisitions throughout 2023” Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, released its U.S. Self Storage Performance Quarterly (SSPQ) report, measuring the health of more than 19,000 self storage facilities in the country’s 50 largest Metropolitan Statistical Areas (MSAs). Despite physical occupancy of non-climate-controlled self storage units declining by -1.0% year-over- year (YOY) nationwide, the self storage sector saw a 7.4% uptick in asking rental rates and 5.7% increase in…

Absolute Storage Management is Expanding Management Services to Western States

  We are very excited about this unique opportunity and look forward to providing the same excellent customer service and experience that has been the hallmark of our business since its inception” – Amber Tyson, Chief Operating Officer Absolute Storage Management (Absolute) is excited to announce the expansion of its management services into two new states in the first quarter of 2023: Arizona and Colorado. Entry into Arizona and Colorado officially marks Absolute’s presence in the western region of the United States. Chief Operating Officer, Amber Tyson is quoted saying,…

Can Locks Talk? What Unit Locks Say about Your Self Storage Facility

Facility owners who’ve implemented Nokē Smart Entry have seen 85-95% fewer insurance claims on Nokē units.” Have you realized the type of locks you allow on your unit doors say a lot about your facility and the content inside each unit? All it takes is a thief or competitor to visit your property and walk around the site a couple of times to fully map your facility. Not only will they easily know which units are vacant, occupied, and past due, but they’ll also have a reliable judgment of which…

Featured Broker: Evan DeCiantis

Evan joined Franklin Storage Advisors in July of 2021 where he was tasked with developing the brokerage division of Pogoda Companies. Adrian College awarded him with a Bachelor of Business degree in 2018. He began his career in residential real estate with Realteam Real Estate in Metro Detroit as soon as he graduated from college. He sold over 100 units, totaling over $15,000,000 in sales in his first three years of business. Evan’s primary focus is the sale of self storage assets and the development of client relationships throughout both…