Even after a long bull run in the self-storage investment sales market, the sector is continuing to attract new capital to the space that is helping provide a steady pipeline of activity. “Deal flow this year has been very strong with no real slow down thus far,” says James Ashley Compton, MBA, national director of…
Self-storage buyers hungry for yield have been chasing freshly developed “certificate of occupancy” deals where they can earn a higher return in exchange for taking on the lease-up risk—and none of the construction risk—of a newly built property. Buyers of C/O deals, as they are commonly called, are finding they can cash in with a…
The sizable gap between seller asking prices and the amount buyers are willing to pay is contributing to a drop in commercial real estate sales activity. Self-storage transactions have dropped 36% in the past year from $6.3 billion in 2016 to $4.1 billion in 2017, according to Real Capital Analytics. Yet the investment sales market…
The self-storage industry is preparing to close the books on another big construction year in 2017. In fact, it is already on track to go down as the biggest year ever. Construction spending on self-storage facilities surpassed $2.27 billion from January 2017 through August, according to the most recent figures from the U.S. Census—the highest…
Liberty Investment Properties recently announced that it has promoted Mark Poole from Regional Manager to Director of Operations for Self Storage Operations. Liberty specializes in the development and operation of high-performing, income producing, commercial real estate. Poole also serves as the current Chairman of the National Self Storage Association’s Young Leaders Group (YLG) and President…
Atlanta-based Boardwalk Development Group launched its new Boardwalk II investment strategy in mid-August that will target stable, cash-flowing self-storage assets in secondary and tertiary markets throughout the southeastern U.S. SpareFoot recently talked with CEO Rajen Sheth to learn more about what’s driving that strategy and the opportunities he expects to find in the current market….
Self-storage is starting to become a victim of its own success. Operators are reeling from a double punch—rising tax rates across many jurisdictions along with higher assessed property values. The specter of rising assessments is coming just as large and small operators alike are expected to face greater competition from new development and decelerating revenue…
People starting a new job often bring a few personal items, perhaps a cell phone, a potted plant and a file of business contacts. When Travis Morrow assumes his new role as president of the Self Storage Division at San Diego-based Strat Property Management Inc. on August 1st, he will be bringing something a bit…
Population density and barriers to entry for urban storage development are creating a perfect set-up for self-storage operators in New York City, if they can get a project off the ground. “The demand is three times greater than the supply in the New York market and nothing will change that fact,” said Jack Guttman, co-owner…
Last month, W. P. Carey Inc. announced it hired industry veteran Brian Boulter as its new director of Self-Storage. W. P. Carey ranked as the 8th largest owner/operator of self-storage assets in the United States, according to Inside Self-Storage. Boulter will be responsible for overseeing the management of the firm’s existing self-storage portfolio, which is…
