The self-storage industry can expect a soft landing from the current surge of development activity, according to Dean Jernigan, CEO of the publicly-traded investment REIT Jernigan Capital. Following the company’s third quarter earnings call, Jernigan took to Twitter to share additional views on the current state of self-storage development and supply, stating that “no oversupply…

Public Storage continues to grapple with decelerating same-store revenue growth as it faces slower rental growth and declining occupancy rates brought on by record-levels of new self-storage development. The company saw same-store revenue grow 2.4 percent during the third quarter of 2017, a slowdown from 5.1 percent same-store revenue growth the same quarter last year. The quarter marks…

Wisconsin-based Benchmark Secured Storage of Hartland LLC is ready to build a 47,000 square-foot self-storage facility in Hartland, WI near Milwaukee. Managing members Doug Hafemann and Aaron Kahle are building the facility to meet an unmet market need, according to BizTimes. Their company is raising $1.2 million from investors to construct the facility according to…

Birmingham, AL-based Merchant Retail Partners have wrapped construction on its newest facility, a 90,000-square-foot mixed-use project at 312 North Gay Street in Auburn, AL. The facility, operating under the name Stor-Eagle, is located next to the Auburn University Campus. The facility includes a retail component featuring a Pilates studio, Neighborhood Barre and a restaurant coming…

The principal of Ft. Lauderdale-based Wheat Capital Management, Daniel Joseph Touizer, was arrested this week for allegedly bilking 150 investors out of $19 million. The company is developing a trio of self-storage facilities in Margate, Pembroke Pines and Miami, that are scheduled for completion in 2018. The company had plans to build 10 to 12 facilities…

After just over a year of development, a Beverly Hills, CA-based developer has completed work on Hawaii’s newest self-storage development. Not only is it the newest, but the 53,000-rentable-square-foot facility at 94-130 Leokane Street in Waipahu is also one of the first conversions of an existing property to self-storage on the island, according to broker Stephen…