by adowney | Dec 30, 2019 | News
In the self-storage business, 2020 could be the year of “Let’s make a deal” when it comes to newly built facilities. In recent months, executives at several self-storage REITs have signaled that some brand-new facilities could be up for grabs at potentially lower...
by adowney | Dec 16, 2019 | News, Private Companies
A $20 million project underway in the Austin, TX, market serves as the springboard for what a real estate startup envisions being a national brand of high-end, for-sale storage condos. Construction is set to begin in January or February near the Austin suburb of...
by adowney | Dec 10, 2019 | News
Elected officials in a town in western Wisconsin have put a different twist on how city governments across the U.S. are clamping down on self-storage projects. In late November, the City Council in Menomonie, WI (population 16,540) unanimously rejected a proposal to...
by adowney | Nov 12, 2019 | General Storage Advice
America creates more food waste than any other country in the world. That is not a title to be proud of. Most of the food items that are thrown out are fresh fruits and vegetables that have been stored improperly or forgotten about in the deep recesses of the fridge....
by adowney | Nov 11, 2019 | News
With a new partner on the team, Columbia, SC-based Taylor/Theus Holdings Inc. aims to grow its self-storage portfolio to 40 to 50 facilities within the next three to five years through ground-up developments and acquisitions. Steve Moffat recently joined Taylor/Theus...
by adowney | Nov 7, 2019 | News, Public Companies
Google’s grip on the marketing budgets of publicly traded self-storage REITs is tightening. During their third-quarter earnings calls, executives at the REITs collectively bemoaned the rise — in some cases a sharp rise — in their marketing expenses. Glendale, CA-based...
by adowney | Nov 3, 2019 | News, Public Companies
With a flood of private equity producing a “tough acquisition environment,” Chairman and CEO Arlen Nordhagen says self-storage REIT National Storage Affiliates Trust is bypassing deals that it considers too pricey. The influx of private investments into the...
by adowney | Oct 31, 2019 | News, Public Companies
The top executives of the country’s two largest self-storage owners and operators — Public Storage and Extra Space Storage — might not see eye to eye on everything. But they definitely agree on one thing: Delivery of new supply should start tapering off in 2020....
by adowney | Oct 31, 2019 | News, Public Companies
Publicly held self-storage REIT Extra Space Storage just made a $150 million bet on one of its non-traded industry peers. On Oct. 29, Salt Lake City, UT-based Extra Space purchased $150 million worth of shares of newly issued convertible preferred stock in Ladera...
by adowney | Oct 30, 2019 | News
A five-facility self-storage portfolio in the New York City, NY, market that just went on the market could fetch at least $200 million. Competition for the portfolio is expected to be fierce. Mike Mele, vice chairman of Cushman & Wakefield, which has the listing,...
by adowney | Oct 29, 2019 | News, People
In April, self-storage industry veteran Ben Carr joined self-storage owner and developer MCSS Development & Investment LLC as president. Six months later, in October, Carr has grabbed a new opportunity as president and chief investment officer at self-storage...
by adowney | Oct 28, 2019 | News, Public Companies
Executives at self-storage REIT CubeSmart are starting to breathe a sigh of relief about the ongoing new-supply crunch. During the company’s third-quarter earnings call Oct. 25, President and CEO Chris Marr said new-supply deliveries in CubeSmart’s top 12 markets are...
by adowney | Oct 18, 2019 | News, People
A real estate investment firm in Southern California has brought aboard a self-storage industry veteran to lead the formation of a storage portfolio comprising at least 100 facilities. James Hanrahan, former managing partner of Orange, CA-based RHW Capital Management...
by adowney | Oct 9, 2019 | Investment, News
Summer may be over, but the self-storage refinancing market remains hot. On Oct. 1, JLL Capital Markets said it secured a $87 million refinancing of a portfolio of 36 self-storage facilities on behalf of West Palm Beach, FL-based self-storage investment firm SROA...
by adowney | Sep 30, 2019 | News
Clutter Inc.’s recent $152 million purchase of four Storage Fox facilities in the New York City, NY, market apparently isn’t the end of the shopping spree for the provider of on-demand storage. Ari Mir, co-founder and CEO of Clutter, said the Culver City, CA-based...
by adowney | Sep 9, 2019 | Investment, News
Although Wall Street may be jittery about a looming recession, the five publicly traded self-storage REITs are enjoying a bullish run in the stock market. As of Aug. 30, the stock prices of all five REITs were sitting near their 52-week highs. Helping push up the...
