Category: Self Storage News

6 Proven Ways to Turn Around an Underperforming Self-Storage Facility

Not every self-storage facility performs as expected. Whether occupancy has stalled, expenses are rising, or revenue growth has slowed, an underperforming property doesn’t have to stay that way. The good news is that many struggling facilities can be improved with a few strategic changes. By focusing on operations, revenue management, marketing, and customer experience, owners can often increase Net Operating Income (NOI) and significantly improve property value. Here are six proven ways to turn around an underperforming self-storage facility. 1. Audit Your Financials The first step is understanding exactly where…

Safeguard Self Storage Opens New Facility in Levittown, New York

Safeguard Self Storage has opened a new self-storage facility in Levittown, New York, expanding its Long Island presence to seven locations. The property includes approximately 750 units and more than 56,000 rentable square feet, with features such as climate-controlled storage, digital access controls, and mobile-enabled entry systems. Located along Hempstead Turnpike in Nassau County, the project reflects continued self-storage development in densely populated suburban markets, where operators are increasing modern storage inventory to serve both household and business customers. Source: Safeguard Self Storage

Storage Post Adds Fourth Brooklyn Facility in Williamsburg, New York

Storage Post Self Storage has opened a new self-storage facility in Williamsburg, Brooklyn, expanding its portfolio to 16 locations across New York City and four within Brooklyn. The property includes climate-controlled units, digital access controls, online leasing, and other features commonly used in high-density urban storage developments. The opening reflects ongoing self-storage growth in New York City submarkets, where operators continue investing in modern, multi-story facilities to serve residential and small business demand in space-constrained neighborhoods. Read the Full Article Source: PR Newswire (By CISION)

CubeSmart Opens Five-Story Self-Storage Facility in Yonkers, New York

A new CubeSmart self-storage facility has opened in Yonkers, New York, following the redevelopment of a long-vacant commercial site on Central Park Avenue. Developed by Hampshire Management Company, the five-story property includes more than 1,100 climate-controlled units across approximately 164,000 square feet. The project converted a former restaurant and entertainment property that had been vacant for over 15 years, with support from local tax incentives. The development reflects continued adaptive reuse trends in the self-storage sector, particularly the conversion of underutilized retail and commercial sites in dense urban markets. Read…

Bineth Expands Storage Portfolio in NJ and NY

Bineth Group and Upper Space Group have expanded their Northeast self-storage portfolio with new facilities in New Jersey and New York. The projects include Seaport Self Storage in Elizabeth, NJ, an 89,000-square-foot climate-controlled facility managed by Extra Space Storage; an 86,000-square-foot, 869-unit climate-controlled facility in Pennsauken, NJ; and the acquisition of a CubeSmart facility in Buffalo, NY. The portfolio now includes seven self-storage properties across dense NJ, PA, and NY markets.   Read the Full Article Source: RE NJ

Large scale self-storage complex under review in Amherst, NY

Amherst, N.Y. (WBEN) – Amherst officials are continuing to review plans for a 550-unit, climate-controlled self storage complex – that, if developed would be the largest such facility in the town. Under review is a proposal by Vick Singh Ghotia. founder of 416Homez, to develop the 70,000-square-foot complex along an 8.46 acre parcel of vacant land at 2495 Wehrle Drive. The property is just west of Transit Road. A final development cost is still being worked out. Pending various Amherst approvals, construction is expected to start later this year. The units…

Boylston, MA Self-Storage Development to Add 797 Units

ARCO National Construction’s New England division is partnering with R.J. Kelly to develop a new Class A self-storage facility in Boylston, Massachusetts. Located on a 6.12-acre site with Route 140 frontage and visibility from I-290, the project will include a three-story, 103,000-square-foot facility with 797 climate-controlled units, including 46 drive-up units, plus a 1,000-square-foot office and 19 parking spaces. The project will redevelop an underutilized parcel to serve the greater Worcester market.   Read the Full Article Source: New England Real Estate Journal

Commune Capital Sells Self-Storage Property in Bellevue, WA for $50.7M

BELLEVUE, WASH. — Commune Capital has completed the disposition of a self-storage property located at 12399 Northup Way in Bellevue. Premier Storage Investors acquired the asset for $50.7 million. Mike Mele, Luke Elliott, Jim Lewis and Steffan Brown of Cushman & Wakefield represented the seller in the transaction. Built in 2016 on 1.2 acres, the Class A 103,397-square-foot self-storage facility features 988 climate-controlled and drive-up units. At the time of sale, the property was 93 percent occupied.     Read the Full Article Source: REBusiness Online

Former Hallmark Warehouse with Extra Space-Managed Storage Listed for $19M

A 14-acre warehouse and self-storage property in Enfield, Connecticut, is on the market for $19 million. Located at 53 Manning Road, the former Hallmark facility includes a 362,600-square-foot industrial building with 244,505 square feet of warehouse space and about 70,000 square feet of self-storage managed by Extra Space Self Storage. The property includes 572 indoor storage units and is being marketed for sale or lease, with potential for a future buyer to operate the storage component or lease it back to the seller.   Read the Full Article Source: CT…

Port Richey Self Storage Opens in Pasco County, FL

Port Richey Self Storage has opened a new facility at 7228 Ridge Rd in Port Richey, Florida. The facility offers climate-controlled units in multiple sizes, paved outdoor parking for RVs, boats, trailers and vehicles, 24-hour access, gated entry, security monitoring, online rentals and contactless move-ins. Grand opening promotions include First Month Free, Free Lock and No Admin Fees for new customers.     Read the Full Article Source: EIN Presswire