A net income jump of nearly 50 percent, a rise of 70 percent in core funds from operations and the purchase of five self-storage properties helped National Storage Affiliates Trust to deliver a positive Q1 2017 earnings report on May 4. The Greenwood Village, Colorado-based company spent $31.9 million to buy those self-storage properties, with…
A data-loving statistics guru is one factor behind NorthPoint Development’s push to fast become one of the nation’s major players in self-storage. The privately held Riverside, Missouri, company works in industrial properties, multifamily communities and senior living communities as well as self-storage. It has ambitious plans to have 13 self-storage facilities, which it calls Beyond…
Self-storage operators could do a better job of listening to their customers, said Marcus Mollman, founder and CEO of Closetbox, which is fresh off of raising $5.5 million in a round of funding that ended March 22. “I’m not sure anyone in the traditional storage industry has tried to understand what the customer is looking…
National Storage Affiliates Trust had plenty to boast about at its year-end report–revenue jumped about 66 percent and the company expanded its portfolio by more than a third during 2016. The real estate investment trust also announced another milestone, just before releasing its year-end earnings report on Feb. 28. The company signed up its eighth…
U-Haul will continue to seek growth in its self-storage business after 12 months of adding about 3.5 million net rentable square feet—two-thirds from its own developments, one-third from acquisitions—the company reported in results for the third quarter of fiscal year 2017, which ended December 31, 2016. “Self-storage continues to be a very competitive, very market-specific…
Fast-growing Denver has many self-storage facilities in place — but there’s still room for more, according to a new joint venture that plans to spend about $40 million to build three such buildings in the metro Denver area this year. “While Denver, as a whole, is pretty well-supplied, we felt there were still some projects…
Colorado entrepreneur Devin Eldridge has unveiled a new peer-to-peer storage app, and he hopes to get self-storage operators on board as well. Stow, based in Fort Collins, envisions homeowners making extra income from a garage, basement, outbuilding, land or elsewhere on their property. “We want to prove it’s an effective way for people to find…
Crow Holdings Capital – Real Estate (CHC-RE) has had a busy 16 months, completing two dozen transactions since it began investing in the development, redevelopment and acquisitions of existing self-storage properties. Dallas-based CHC-RE now has storage properties in nine states, including Texas where it has projects in Austin and Houston. The company seeks to buy…
Cameron Smith’s son is not yet 2 months old, but already has his first movie credit. His star turn just may help his parents grow their fledgling business, SquirrelBox Valet Storage, in Colorado and eventually in other states. Little Parker pops up 58 seconds into Smith’s upbeat, humorous presentation that won the $20,000 first prize in…
U-Haul continues to move full-speed ahead when it comes to increasing its self-storage business. “We have a pipeline full of self-storage products and I expect we’ll see an increased amount of inventory come in the next 12 months than in the prior 12 months,” said Joe Shoen, chairman of parent company Amerco. The company is…
