As development brings a surge of new supply to the market, renting a storage unit in New York City is getting cheaper. The average price to rent a storage unit in New York City dropped 9.8 percent from 2016 to 2017, according to reservations made on SpareFoot’s network. In 2017, the average monthly price to…
Goldendale, WA-based self-storage operator Iron Guard Storage recently obtained $98.15 million from a CMBS loan backed by its 22-property portfolio. The portfolio covers a total of 1.3 million square feet of space in seven states: Texas, Georgia, Alabama, Nevada, Washington, North Carolina and Virginia. The financing was arranged by Chicago based advisor The BSC Group….
Updated 3/21/2018 This page contains statistics about the U.S. self-storage industry compiled by The SpareFoot Storage Beat. Statistics on this page will be updated as we receive new data. If you have data that you’d like to share or have a question about data on this page, please email editor@sparefoot.com. Self-storage sector snapshot Average monthly…
For the sixth year in a row, self-storage rental rates in Florida have continued to increase according to a recent analysis of SpareFoot reservation data. The average price of a storage unit in Florida was over $88 in 2017, up from $85 in 2016. In 2010 the average price of a unit was less than…
One of the country’s largest self-storage facilities could soon be sold at auction, as part of the bankruptcy of its ownership group. Secured Climate Storage, located at 9311 N FM-620 in Austin, TX, features more than 200,000 square feet of storage space in nearly 1,200 self-storage units—84 percent of which are climate-controlled. The property generated…
Here is a round up of all the self-storage news stories we didn’t get a chance to cover last week. Jernigan funds Miami developer more than $83 million Miami City Self-Storage secured a loan from Jernigan Capital for $83.3 million. The loan is secured by five self-storage facilities in South Florida, two of which are…
Here are three self-storage stories you might have missed this week. Not safe for storage A shoulder-fired rocket launcher was found in an abandoned storage unit at Stuff-It Storage in Hadley, MA. The facility called police when it discovered the weapon. Police said that the weapon is only designed to be used one time, and that…
Jernigan Capital CEO Dean Jernigan kicked off the company’s recent earnings conference call with his own spin on a classic Mark Twain quote: “The reports on the demise of the storage sector are greatly exaggerated.” The publicly-traded self-storage sector took a hit in 2017 as revenue growth decelerated at an alarming clip for many investors….
It’s been a busy week in the world of self-storage. Here are a few stories that you might have missed: Talk about a bad experience It is probably in the best interest of any self-storage operator to read through “My self-storage hell”, an article published by The Outline. The post outlines what one customer perceives…
This time next year, self-storage giant Public Storage will have a new leader at the helm. The company announced that Ron Havner will step down as CEO at the end of 2018 after more than 15 years in the role. Joe Russell, who currently serves as president, will replace Havner effective January 1, 2019. Havner…
