Safari Energy and Extra Space Storage aren’t finished with installing solar-energy units at the self-storage firm’s properties across the country. The two companies recently announced that Safari Energy, a New York-based solar developer owned by PPL Corp., has now delivered more than 6.7 megawatts of commercial solar power capacity for Extra Space at 58 sites…

PTI Security Systems has rolled out a new security-and-access technology product that it says will go a long way towards the eventual automation of numerous other functions at self-storage facilities. Earlier this month, the Arizona-based PTI, which provides both hardware and software products tied to self-storage access and security, released its new “PTI Core,” described…

Life Storage and Union Realtime, a self-storage research firm, are teaming up to collect as much real-time data as possible on newly developed self-storage facilities across the nation, a move they say will help investors and others make better decisions when buying, selling or building new facilities. Earlier this month, the New York-based Union Realtime…

Storage Express is pumping up its Midwest portfolio of self-storage facilities, snapping up 12 properties in Illinois. “The optics of this deal don’t come along every day for us,” said owner and founder Jefferson Shreve. “We jumped at the opportunity.” He declined to give financial details about the Illinois transaction, only to say it was…

With its acquisition of the U-Stor-It portfolio of 21 self-storage facilities earlier this month, Robb Kone’s Best Self Storage is off and running. The Riverside, California-based Best Self Storage’s purchase of the U-Stor-It properties in Texas, New Mexico and Arkansas was the company’s first foray into the self-storage business – and Kone, himself a 15-year…

money money

Hit by a rising tide of new construction and economic trouble spots across the country, publicly traded self-storage REITs have pulled back significantly from their acquisitions of existing facilities. Acquisitions by the top five self-storage real estate investment trusts (REITs)—Public Storage, Extra Space Storage, CubeSmart, Life Storage and National Storage Affiliates—are off by an annualized…

A regional hotel development and management corporation in the Southeast is the latest player to jump into the booming self-storage market, aiming to one day own more than 100 storage facilities. JHM Hotel Group, a Greenville, SC-based hotel and restaurant company, recently formed TD Self Storage Enterprise LLC and already owns five new self-storage facilities…