Welcome to our new column where we try and catch up on a few news stories in the world of self-storage we didn’t get a chance to cover in the week that was.
Public Storage looks to develop historic property in California
Self-storage operator Public Storage has a deal to buy a 4.4 acre lot in Huntington Beach, CA. The problem? The site has a long history and cultural significance as a Depression-era community for Japanese Americans. Community groups and advocates are lining up to oppose the deal according to the Los Angeles Times and the OC Register.
This is a travesty! A preservation group was negotiating with the owner who turns around and sells it to a developer to tear it all down! https://t.co/VbN2ujpZXq
— Arts Orange County (@SparkOC) January 31, 2018
#OTD 1934: Second building of Wintersburg Japanese Mission is dedicated, 30 years after the founding in 1904. One of the oldest Japanese pioneer churches in California, it still stands. ~Santa Ana Register, December 10, 1934 #HistoricWintersburg #NationalTreasure #California pic.twitter.com/pePRc5S4vh
— Historic Wintersburg (@WintersburgHB) December 10, 2017
Self-storage employee allegedly embezzles $100,000
A former employee of a self-storage business in Mount Zion, IL was arrested on suspicion that she stole more than $100,000 from the company. Source: Herald-Review
Storage operators jumps into multi-family
SmartStop Asset Management, whose portfolio of self-storage facilities is managed by Extra Space, has launched a public offering with the goal of raising $1 billion for student and senior housing projects. Source: CoStar
NGKF release new research
NGKF is launching a new thought leadership series on the self-storage industry called Dissecting Demand and Capital. Check out their first report here.