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The Year Ahead in Storage

In this educational video chat, we’re joined by industry veterans Mike Mele of Cushman & Wakefield, Shawn Hill of the BSC Group and Liz Schlesinger of Merit Hill Capital to discuss predictions for 2023. Storage has had a great couple of years but what can we expect with changing interest rates and decreasing occupancies? This group offers insights on the how the industry is transforming, development activity, market evaluation strategies and much more. Where is the self storage sector headed in 2023? Tune in to find out!

Recent Transactions: 12.06.2022 – 12.12.2022

Property: Savannah HWY6 Storage Location: Rosharon, TX Brokers and Brokerage: Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL Buyer: Montfort Capital Partners Seller: Quintet Capital Group Acreage: 6.1 Unit Count: 678 Property: Stafford, VA Self Storage Facility Location: Stafford, VA Buyer: Arcland Property Company Acreage: 7.21 Unit Count: 943 Highlights: Climate-controlled and drive-up storage units On-site manager 24-hour video recording Elevator-accessible units Property: Champion Storage Location: Sheboygan, WI Broker and Brokerage: Sean Delaney of Marcus & Millichap Buyer: Rogers Equity Group IV, LLC Seller: JGSS, LLC NRSF:…

Overland Park, KS

Using the Market Discovery Tool from StorTrack Explorer, we were able to view market data on Overland Park, the second most populous city in the state of Kansas. With 20 stores in the city, the square footage per capita is less than six. There are two development projects in the pipeline, adding an additional 119,000 square feet by the end of 2023. However, with population projections, demand should offset this new supply. While the average rate per square foot remains relatively consistent in Overland Park (see above), the spread between…

Featured Broker: Parker Johnson

With an in-depth understanding of real estate market dynamics and utilization of data driven technology, Parker has proven to be a valuable asset to Storage Exchange and its clients. Prior to joining the Storage Exchange team, Parker worked as a residential real estate agent with Keller Williams in Newport Beach, CA. Connect with Parker: parker@storageexchange.com 949-533-6977

Recent Transactions: 11.29 – 12.6

Property: Michigan Center Storage Location: Michigan Center, MI Broker and Brokerage: Kirk Martin of the Lindsey Self Storage Group NRSF: 41,395 Property: Woodbury, CT Storage Development Opportunity Location: Woodbury, CT Brokers and Brokerage: Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 23,690 Units: 217 Climate-Controlled Units Highlights: Fully Approved Class-A, All Climate Controlled, Single-Story Facility Affluent Area: Average Household Income of $138,630 for People Living within a Three Mile Radius Litchfield County Is an Affluent Secondary Home Market with High…

Five Ways Cloud Computing Benefits Self Storage Operations

Cloud computing creates new opportunities for self storage operations by relocating data and applications from on-premise servers to the cloud. Although specific features vary based on the cloud solution, there are several ways it can benefit your self storage business. 1. Enhanced control. The cloud improves facility management by extending the functionality of access control keypads, lighting, HVAC and other smart connected devices. The centralization of data expands the potential to monitor, control and command nearly any device in your network. 2. Lower costs. Cloud computing reduces costs by minimizing…

Recent Transactions: 11.22.2022 to 11.28.2022

Property: Storage General Location: Layton, UT Brokers and Brokerage: Jordan Farrer and Adam Schlosser of the LeClaire-Schlosser Group of Marcus & Millichap NRSF: 86,105 Property Layout: Eleven stand-alone single-story buildings   Property: Savannah HWY6 Self Storage Location: Rosharon, TX Buyer: Montfort Capital Partners Seller: Quintet Capital Group Brokers and Brokerage: Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL Capital Markets Units: 678 (75% climate-controlled units plus drive-up units in six single-story storage buildings and 900 square feet of office space)   Property: 10 Federal Self Storage Location:…

Recapitalization Completed for Newly Constructed Self Storage Facilities in SoCal

JLL Capital Markets announced today that it has arranged the recapitalization of two newly constructed self storage facilities totaling 1,975 units in the San Diego and Los Angeles metropolitan areas of California. JLL recapitalized the properties on behalf of the seller, Baranof Holdings. Clarion Partners is Baranof’s new partner, buying out the ownership stake previously held by another partner of Baranof, Invesco Real Estate, a global real estate investment manager. Lemon Grove Self Storage is located at 8016 Broadway in the Lemon Grove area of San Diego, immediately east of…

Hot Properties: Six New Self Storage Facilities to Be Built in the Bradenton Area

Massive self-storage units seem to be everywhere in the Bradenton area these days and more are coming. Developers recently filed paperwork with Manatee County Development Services to build three more within a two-mile span off State Road 64 East: ▪ Largo Lifestorage plans to build a three-story, 132,500-square-foot facility at 911 64th St. Ct. E., on the southwest corner of Interstate 75 and S.R. 64 near Wendy’s. ▪ Core Suncoast LLC plans to build a three-story 89,910-square-foot facility at 8030 State Road 64 E., across the road from a Dairy…

RecNation Expands Midwestern Footprint with Acquisition of New Storage and RV Repair Facility in Kansas City, Kansas

RecNation Storage (“RecNation” or the “Company”), a leading owner, operator and developer of specialized recreational vehicles and marine storage facilities, today announced it has completed the acquisition of a state-of-the-art storage facility in Shawnee, Kansas, marking the Company’s inaugural location in the Kansas City metropolitan market. The new facility, located at 25105 W 43rd Street in Shawnee, is just 20 miles west of central Kansas City in the Overland Park area and will provide outdoor enthusiasts across the region with access to premier recreational storage services. The facility will be…