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The Benefits of a Security Integrator in Self Storage

In today’s self storage industry, security encompasses an increasingly complex range of hardware, systems and technology platforms that deter crime and improve operators’ ability to monitor and respond to threats. Security integrators play a crucial role in helping owners and operators manage and optimize all aspects of their security systems. They coordinate, install and connect hardware, software, networks and hybrid IT solutions and develop a comprehensive security strategy tailored to your operation’s unique requirements. Specifically, there are several ways a qualified security integrator adds value to your self storage operation:…

Strategic Storage Trust VI, Inc. Acquires Land for the Development of a 1,200 Unit Self Storage Facility in the Greater Toronto Area

Strategic Storage Trust VI, Inc., a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced today the acquisition of approximately 2.7 acres of land in the Weston neighborhood of Toronto, Ontario, Canada in a joint venture partnership with SmartCentres.  The land will serve as the development site for an approximately 1,200-unit self storage facility. Located at 1480 Jane Street, the planned six story facility is expected to encompass nearly 99,000 net rentable square feet of 100% climate-controlled self storage with a mix of…

Home Depot Sells Queens, NY Development Site

Self storage developer InSite Property Group has acquired a 102,500-square-foot development site at 59-02 Borden Avenue in Maspeth, Queens from Home Depot for $18 million, according to city records. The sale represents a piece of a larger lot, which had been the site of a Coca-Cola bottling plant, that Home Depot bought for $63 million in 2018 to build a store. The home improvement company had announced plans to build a six-story self storage building on its own last year, but the project became a source of contention for Queens…

Former Kroger Site to Be a Self Storage Facility

A vacant lot at the corner of Central Avenue and National Road that used to house a Kroger supermarket has been sold to an Indianapolis-based company that plans to convert the grocery store building into a self storage facility. On March 2, Tiptonia Partners LLC, located at 6440 Westfield Blvd. in Indianapolis, purchased the property for $3.6 million, nearly five months after the Columbus Board of Zoning Appeals approved the use of the property for a self storage facility, according to city and county records. In a conditional use application…

Invesco Real Estate Lends $116M on National Self Storage Portfolio

Invesco Real Estate has provided a $116 million loan to ASB Real Estate Investments (ASB) and The William Warren Group (WWG) on a portfolio of 10 self storage properties spread across five states. The debt was structured as a three-year, floating-rate loan, according to information from Washington, D.C.-based ABS, which executed the loan on behalf of its $7.3 billion Allegiance Real Estate Fund. The deal closed on April 8th. “This loan is representative of the Invesco debt platform’s focus on high-quality real estate and best-in-class institutional sponsorship,” Justin Chausse, senior…

Argus Broker Affiliates Announce Sale of Florida Self Storage Development Site

Josh Koerner and Frost Weaver, of Weaver Realty Group, are pleased to announce the sale of Oakland Park Self Storage Development Site, located at the intersection of W. Oakland Park Blvd and NW 23rd Terrace in Oakland Park, FL. Weaver Realty represented the seller in the transaction and the sale closed in March of 2021. The property is located on 2.53 acres and includes site plan approval for a 113,496 GSF in two three-story self storage buildings. Weaver Realty has been the Argus Self Storage Advisor Affiliate since 1999 covering…

Argus Broker Affiliates Announce Sale of Texas Self Storage Portfolio

Dominus Commercial brokers, Tyler Trahant and Chad Snyder, represented the Buyer, KO Storage in the acquisition of the Price Rite Self Storage portfolio in Texas. There are four locations in Weatherford, TX and one location in Granbury, TX. The total square footage between the five properties is approximately 108,000 square feet. The Granbury location provides the Buyer with ample room to expand the property with either traditional storage or Boat/RV storage as it is in close proximity to Lake Granbury. The four Weatherford locations provide good coverage through the city…

Featured Broker: Luke Elliott

Luke Elliott is an executive managing director at Cushman & Wakefield. He is responsible for the private client and mid-market assignments in the firm’s National Self-Storage Advisory Group.  The group represents private clients, institutional investors and other financial institutions, advising them on acquisition tactics and the strategic disposition of self storage assets. Mr. Elliott has partnered with owners for over 20 years, providing advisory and transactional expertise. He is a past-president of the third largest state self storage association and has been recognized as an expert in the self storage…

SmartStop Self Storage REIT, Inc. Acquires Self Storage Facility in the Greater Toronto Area

SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company with approximately $1.7 billion of self storage assets under management, today announced the acquisition of a recently built six-story self storage facility in Oakville, Ontario, Canada. The property was completed in April 2020 and was approximately 35% occupied at acquisition. This is SmartStop’s 17th owned or managed location in the Greater Toronto Area (GTA) and 153rd property in North America. The six-story facility is located at 450 Iroquois Shore Rd in the Oakville community, one of the GTA’s…

Using Data to Drive Self-Storage Acquisitions

As a real estate investor, incorrectly identifying a deal can potentially cause catastrophic losses, while proper identification of a deal can set you up for long-term success and wealth creation. In a competitive marketplace, real estate investors must combine a boot-on-the-ground qualitative analysis with data-driven quantitative research. It is the combining of these two approaches that paints the most complete picture allowing for additional insight to how a property may perform. Gone are the days of information asymmetry where the seller always had more information than the buyer. Technology has…