by adowney | Jan 23, 2025 | Moving Tips
KEY TAKEAWAYS ▸ Breaking a lease is legally binding and can result in fees, loss of your security deposit, credit damage, and even court action. ▸ Circumstances like military deployment, uninhabitable conditions, or domestic violence are legally protected reasons to...
by adowney | Jul 21, 2022 | News, Private Companies
Like the animal it’s named after, Rhino Storage Group is charging ahead. Rhino currently operates 23 self-storage facilities in Ohio and West Virginia, and has another three projects under development. The company plans to start expanding next year, by acquisition and...
by adowney | Jun 7, 2022 | News, Private Companies
In just five years, self-storage owner and manager City Line Capital has racked up a monumental achievement—surpassing $1 billion in acquisitions. To be precise, City Line Capital has spent $1.2 billion on acquisitions since 2017. The company’s portfolio now...
by adowney | May 12, 2022 | News, Public Companies
The COVID-19 pandemic may be waning, but the pandemic-fueled lift in business for the five publicly traded self-storage REITs is not. During their first-quarter earnings calls, executives at the five REITs reported continued strength in occupancy rates, rental rates...
by adowney | Mar 1, 2022 | News, Public Companies
On the heels of its $1.7 billion acquisition of the Storage West portfolio, CubeSmart may be more likely to nail down infill opportunities near the newly added facilities. During CubeSmart’s fourth-quarter earnings call Feb. 25, Tim Martin, the self-storage REIT’s...
by adowney | Feb 27, 2022 | News, Public Companies
Growth of new supply in the self-storage industry has tapered off in recent years. However, Joe Margolis, CEO of Extra Space Storage, anticipates supply growth will pick up again in 2023. During the self-storage REIT’s fourth-quarter earnings call Feb. 24, Margolis...
by adowney | Feb 24, 2022 | News, Public Companies
Joe Russell, president and CEO of Public Storage, thinks the U.S. self-storage sector remains in a “holding pattern” when it comes to development of new facilities. In a Feb. 23 call with Wall Street analysts, Russell explained that the holding pattern started in 2021...
by adowney | Nov 9, 2021 | News, Public Companies
Chris Marr, president and CEO of CubeSmart, expects the “fairly muted” environment for self-storage development to continue for a while. However, he says, a rise in self-storage supply could come in 2023 or 2024. Yet Marr believes any near-term uptick in supply will...
by adowney | Nov 8, 2021 | News, Public Companies
Seizing on what its CEO calls an “unprecedented” volume of self-storage acquisitions, National Storage Affiliates Trust could end the year with $2 billion in deals. The self-storage REIT just raised its acquisition forecast for 2021 to a range of $1.5 billion to $2...
by adowney | Nov 3, 2021 | News, Public Companies
The country’s largest self-storage operator has closed its second ten-figure self-storage deal this year. Public Storage announced Monday that it acquired a portfolio of 56 self-storage facilities for $1.5 billion. The portfolio, sold by developer All Storage, is...
by adowney | Oct 21, 2021 | News, Public Companies
Extra Space Storage, the king of third-party management in the U.S. self-storage sector, continues its impressive reign. In mid-September, the Salt Lake City, UT-based REIT announced it had surpassed the 800-facility mark for properties operated by its third-party...
by adowney | Aug 9, 2021 | News, Public Companies
Self-storage REIT National Storage Affiliates Trust is zooming toward acquisition volume this year approaching $1.3 billion. To date, the company has closed on or put under contract more than 100 facilities valued at nearly $900 million. For all of 2021, National...
by adowney | Aug 9, 2021 | News, Public Companies
Self-storage REIT Life Storage is the midst of an acquisition spree. As of Aug. 3, the Williamsville, NY-based company had made a record-breaking $555.8 million worth of wholly owned acquisitions this year. But Life Storage is hardly done with acquisitions in 2021....
by adowney | Aug 9, 2021 | News, Public Companies
Bolstered in part by its new online rental platform and new mobile app, Public Storage is seeing a surge in brand-new customers. During the self-storage REIT’s second-quarter earnings call Aug. 4, President and CEO Joe Russell said his company is experiencing “a...
by adowney | Jul 29, 2021 | News, Public Companies
Bolstered by high occupancy and rental rates, Extra Space Storage is bumping up its financial expectations for 2021. The Salt Lake City, UT-based self-storage REIT anticipates same-store revenue will rise 10% to 11% this year compared with last year, and same-store...
by adowney | Jun 8, 2021 | News, Public Companies
Janus International Group, a manufacturer of doors and other products for self-storage and industrial facilities, has joined the small cadre of publicly traded companies in the self-storage industry. Janus’ stock started trading June 8 on the New York Stock Exchange....
