Category: Self Storage News

Oak Brook, Ill.-based Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc., has been awarded the property management contract for six self-storage properties in Indiana, Colorado, Michigan, Nevada, and Louisiana totaling roughly 361,000 square feet. The assets include a 603-unit property in Fort Wayne, Indiana, a 487-unit property in Northglenn, Colorado, a 459-unit facility in Waterford, Michigan, a 387-unit facility in Las Vegas; and a 595-unit property in Baton Rouge, Louisiana. To date, Devon manages 119 properties for 12 owners across the U.S. The firm…

AW Properties Global and AuctionWorks, its auction division, announced a unique opportunity for investors to participate in the UCC Foreclosure sales of two East Coast properties. These upcoming sales offer a chance to acquire 100% stock interest in the LLC or corporation holding title to the real property with exceptional potential upside. The stock interest in the limited liability company holding title to Nepa Storage Solutions, LLC offers full equity interest in a self-storage facility located at 537 Stock Farm Road in Lake Ariel, PA. The stock interest in the…

PTI Security Systems, the global leader in access control technologies for the self storage industry, announced today that David Shaw will be named as managing director effective December 1, 2022. David Shaw joined PTI as the director of engineering in January 2018. As the director of engineering, he played a key role in advancing PTI’s cloud-based access control solution, StorLogix Cloud, and has led several initiatives to improve the technology enabling PTI’s hardware and software solutions. He has more than 20 years of executive experience in various engineering and information…

With 7.4 Million Square Feet in 21 Markets Across Nine States, SpareBox is Poised for Rapid Growth The Leading Unmanned Operator in Self Storage September 22, 2022 09:00 AM Eastern Daylight Time DENVER–(BUSINESS WIRE)–SpareBox Storage, the leading unmanned operator in the self storage industry, today announced it successfully strengthened its balance sheet with a $462.5 million refinancing with Bank of America. SpareBox is one of the fastest growing self storage companies participating in the consolidation of the highly fragmented sector, and in just over two years, has acquired 7.4 million…

On a recent deal, I had a customer caught between a rock and hard place while choosing which financing route to pursue. While going through the different costs and various benefits of both the SBA 7a and SBA 504 programs, it was hard for the client to make a choice. Ultimately they went with the SBA 504 program due to the 25 year fixed rate on a portion of the debt. Here is a breakdown of both programs: Nick Collins Commercial Lender – Vice President Bank Five Nine 155 W.…

National Storage Affiliates Trust today announced the promotion, effective July 1, 2022, of David Cramer from his role as executive vice president and chief operating officer to president and chief operating officer. We believe the Company will benefit from Dave’s elevated leadership role as well as his focus on operational execution and growth through acquisitions given his invaluable industry experience and proven track record of results.” Tamara Fischer, Chief Executive Officer, commented, “We are extremely pleased to announce Dave’s promotion to president of NSA. This promotion acknowledges his current and…

Recently, Marcus & Millichap completed the sale of a 55,956 square foot self storage facility in Longview, TX. Within just two weeks of marketing the listing, the team generated ten offers, more than half of which came in at or above the asking price. FreeUp Storage I-20 had 10 offers within two weeks The Facility The property is situated roughly 130 miles east of Dallas along the I-20 just south of the city of Longview, TX, about 60 miles east of Shreveport, LA. Positioned alongside the I-20, it sits on…