Author: Shinil Krishnan

Recent Transactions: 9.12.2023 – 9.18.2023

Property: Long Beach Storage Center Location: Long Beach, CA Brokers and Brokerage: Andrew Sacks and Richard Riddle of SkyView Advisors Acreage: 1.03 acres NRSF: 22,625 Unit Count: 384 units Highlights: The site is near full capacity The site has room for expansion     Property: Terrace Storage Center Location: Tampa, FL Broker and Brokerage: Cameron Vale of Oakside Co. NRSF: 88,127 Unit Count: 1,210 units     Property: Class A Self Storage Facility (FreeUp Storage brand) Location: Kingsland, GA Buyer: Spartan Investment Group NRSF: 30,000 Unit Count: 333 units Highlights:…

StoreEase and Go Store It Announce Agreement to Implement StoreEase SaaS (Software-as-a-Service) Platform

Walking into a facility equipped with StoreEase’s technology was like stepping into the future of our industry,” said Beau Agnello Chief Operating Officer at Go Store It. “We’re not just following industry trends; we’re setting them. This isn’t a replacement for personalized service – it’s an upgrade.” StoreEase announces a strategic partnership with top operator Go Store It to implement its Virtual Technology Platform as a SaaS / white label solution. The initial rollout will consist of 11 properties in North Carolina and South Carolina. Go Store It will deploy…

Targeting a Winning Financing Execution in a Volatile Market

The debt markets have changed significantly since the Fed began raising interest rates in early 2022. As a mortgage broker, I’ve seen deals repriced, paused and/or die as a result. Still, we continue to close loans by embracing a strategic perspective that fits the current environment. The best financing execution is one that focuses on future goals and what can be controlled by the borrower. A case study will help illustrate this. We recently closed a loan fitting the following profile: Strong historical cash flow Low leverage Tertiary market The…

Recent Transactions: 9.05.2023 – 9.11.2023

Portfolio: Three Self-Storage Portfolio Locations: Belleview, FL, Pea Ridge, AR and Kingsland, GA Buyer: Spartan Investment Group Acreage: 4.63 acres (Belleview) 15.21 acres (FreeUp Storage Pea Ridge, AR) NRSF: 30,000 (Kingsland, GA) Square Feet: 27,000 (FreeUp Storage Pea Ridge) Unit Count: 550 units (Belleview, FL) 333 units (Kingsland, GA) Highlights: Spartan will transition the property into the FreeUp Storage brand Plans to build an additional 20,000 square feet Spartan’s portfolio has 66 properties   Property: 3 Men Movers Self-Storage Facility Location: Houston, TX Buyer: SkyView Advisors NRSF: 78,372 Unit Count:…

Proffitt Dixon Delivers 93,000 Square Foot Self-Storage Facility in Chapel Hill, NC

Charlotte-based Proffitt Dixon Partners has completed the development of Carraway Self Storage, a 93,000-square-foot, climate-controlled self-storage facility in Chapel Hill. Located at 500 Myrica St., the property comprises small, medium and large units across four stories. Features include LED sensor lighting, an advanced security system and boat and RV storage options. JLL Charlotte’s Project and Development Services (PDS) team managed the design and construction of the project. Public Storage will operate the property on behalf of Proffitt Dixon. Source

Boca Raton-based Basis Industrial Secures $12.1 Million Construction Loan for Self-Storage Facility in Voorhees Township, NJ

Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Boca Raton, Florida, closed on a $12.1 million construction loan on Thursday, Aug. 31 for a self-storage facility located at 111 Centennial Blvd., Voorhees Township, New Jersey 08043. Basis Industrial acquired the land on which the storage facility will be built in fall 2022. Berkadia sourced the construction loan from WSFS Bank. In later September 2023, Basis Industrial plans to break ground on the 113,000-square-foot, state-of-the-art self-storage facility featuring climate-controlled units, advanced security systems, and…

DRB Approves Self Storage Project in Montpelier, VT

Plans to construct two new buildings on an undeveloped gravel lot on River Street just cleared a key hurdle and 42 new units will be coming soon to the Capital City. The project unanimously was approved by the Development Review Board following a Tuesday night hearing, and will expand Barrett Enterprise’s growing collection of self-storage units, including some located on the same River Street parcel that is bisected by the Washington County Railroad. Most of the nearly 6-acre lot — just more than four acres — is north of the…

Citizen Storage Management Expands its Self Storage Portfolio with Twelfth Property Under Management in Waterford Township, MI

The Citizen Storage team is invigorated by our portfolio’s expansion and mission of industry-leading performance through our battle-tested management and revenue methodologies at The Storage House.” – Peter Spickenagel, CEO of Citizen Storage Management Citizen Storage Management, a leading storage 3rd party management provider announced the expansion of its self-storage facility management portfolio with the addition of The Storage House, a fully-automated, climate-controlled facility in Waterford Township, Michigan. Citizen Storage Management manages 12 facilities in three states representing more than 4,500 self-storage units, 590,000 Net Rentable Square Feet, and assets…

Janus International Group and Extra Space to Expand Implementation of Nokē™ Smart Entry System

Janus International Group, Inc (NYSE: JBI) (“Janus” or the “Company”), a leading provider of cutting-edge access control technologies and building product solutions for self-storage and other commercial and industrial sectors, today announced Extra Space Storage, Inc (NYSE:EXR) (“Extra Space”), intends to expand its install base of Janus’s award-winning Nokē digital access products across more than 400 additional facilities with the Nokē Screen over the course of the next year. Janus and Extra Space have partnered to bring Nokē smart technology and digital access to approximately 700 facilities to date. Upon…

Stuf Self Storage Expands to West Midtown of Atlanta, GA

Self-storage startup Stuf has grown its national tech-enabled network into the southeast with a new Atlanta location. The company also operates in Los Angeles, New York, San Francisco, Boston, San Diego, Seattle and Washington, D.C. Stuf partners with property owners to monetize underutilized spaces into revenue-generating opportunities for landlords, while providing the local community with easy-to-access and secure locations to store anything from seasonal gear and recreational equipment to inventory, business equipment and more. “We are thrilled to partner with Jamestown again and expand our footprint into the thriving Atlanta…