Self-storage insiders have long maintained industry demand is driven by the “4 Ds” – death, divorce, dislocation and disaster. Paul Fiorilla, research editorial director at Yardi Matrix, says he’s been lately hearing that maybe the list should be updated. “Some people think there should be a new ‘D’ added: distribution,” said Fiorilla. “Some are seeing…
It seems as though the valet storage wars are nearing an end. The two largest full-service storage companies, Clutter and MakeSpace, announced this morning that they are merging into one. The combined platform will operate under the Clutter brand and offer its services in over 6,500 cities in towns throughout the country to reach about…
What’s one lingering affect of the pandemic that isn’t going anyway anytime soon? The rise of unmanned self-storage facilities. Storage Asset Management (SAM), a York, PA-based third-party management firm, recently reported a 110% increase from 2020 to 2021 in the number of unmanned self-storage locations it operates. Of the 442 self-storage locations the company manages…
The William Warren Group recently promoted Tim Hobin, 51, to chief investment officer. His duties include leading the real estate team to deliver on investment strategy, to mentor leadership and to foster investment return and growth objectives. WWG is a nationally known powerhouse in self-storage management, acquisitions and development. The company operates its facilities…
Private real estate firms seem to have little trouble raising investor funds for self-storage ventures. Two separate firms have recently closed funds exceeding $50 million in new capital for self-storage development and acquisition activity. Albuquerque-based DXD Capital, a self-storage investor and developer, announced the closing of its inaugural fund focused on developing new facilities. The…
Irvine, CA-based Talonvest Capital, Inc., helped secure its clients $111,500,000 in permanent financings during the final weeks of 2021. The boutique self storage and commercial real estate mortgage brokerage firm negotiated with various national banks to obtain the loans for their clients. The new closings are secured by assets located in Texas, California, Illinois, and…
While many in the self-storage industry would be thrilled to have a repeat of 2021, a new year has dawned. The year 2022 holds plenty of promise, even if it doesn’t quite reach the record-breaking heights of the last 12 months. But who knows? 2022 could be a record breaker for you! To bring you…
Your favorite self-storage news site has a new home. The Storage Beat is now publishing on Storable.com. While stories will still appear here on this site for now, the new Storage Beat format on Storable will provide the best experience. Our weekly newsletter is now also being sent from Storable, so if you are new…
It’s often been said that the self-storage industry is recession resistant, but is it also inflation resistant? For the time being, it looks that way. Despite recent price spikes in construction materials, energy, wages and other items across the board in the U.S., the self-storage industry is keeping ahead of inflation via rent increases. So…
This year, the self-storage industry saw three portfolios trade for well over $1.5 billion each. What did all three deals have in common? Kieran O’Shea. O’Shea, managing director of real estate investment bank Eastdil Secured, represented the sellers of the EZ Storage portfolio ($1.8 billion), the Storage West portfolio ($1.7 billion) and the biggest of…
