For the first time in four years, all major and secondary metro markets saw street rates for self-storage units rise in April. That’s according to a new industry report from Yardi Matrix that tracks storage rental prices across the country. Year-over-year rates were up 8% for 10×10 non-climate-controlled units and up 9.5% for climate-controlled space….
Self-storage new construction continued its slow but steady recovery through the early spring, due to a strong demand for storage and growing confidence among developers that certain markets still need more supply. The amount of new supply potentially coming on line isn’t anywhere near pre-pandemic levels. In fact, it may take a few more years…
Talonvest Capital wants to further strengthen its East Coast business – and thinks it’s found just the man to do it. In April, John Chase, a long-time executive at Boston’s Tremont Reality Capital, joined the Irvine, CA-based Talonvest as senior director of business development to be based out of the firm’s new Annapolis, MD office. …
If all goes well, Aaron Saunders is going to be a busy man in 2021 and beyond. As the recently appointed director of construction at Spartan Investment Group, Saunders, who previously spent nine years at Casey Industrial working in various top-level construction positions, will be overseeing a number of self-storage projects over the coming year,…
Crescit Capital Strategies has closed on a $16.1 million self-storage financing deal in Philadelphia, its first transaction in what it hopes and expects will be a strong 2021 for self-storage lending in general. The financing was for Snapbox Self Storage’s acquisition of a 105,000-square-foot, 1,100-unit facility in northwest Philadelphia, in a high-traffic location with “strong…
A topsy-turvy 2020 for the self-storage industry most definitely ended up on top in terms of rental prices for storage properties across the county. According to two industry research firms and other industry players, self-storage rental prices finished 2020 comfortably above price levels at the end of 2019, a highly unusual and unexpected year-end development…
City Line Capital ended last year with a bang. The Pennsylvania-based investment firm has announced the acquisition of eight self-storage properties in December, bringing its total 2020 acquisitions to 26 facilities and 134 assets since the firm was founded in 2017. The properties acquired last month are located in Pennsylvania, West Virginia, Louisiana and Florida…
Seth Bent is at it again. The founder of Red Dot Storage, owner of fully automated self-storage facilities around the country, has launched a new interactive brokerage platform. The new venture, called Storage Exchange, aims to help sellers and buyers of facilities to more easily conduct transactions – and pay lower brokerage fees in the…
Fresh off its $900 million purchase of Jernigan Capital’s 38 self-storage facilities and other assets around the country, NexPoint has ambitious plans to quickly expand its portfolio over the next 18 months by adding 20 to 25 facilities to its portfolio. And, if all goes well, the new stand-alone company it has established, NexPoint Storage…
A high-profile legal case of a moving-storage firm selling the belongings of an active-duty Air Force sergeant in Massachusetts is once again highlighting the importance of storage companies checking before auctioning off items of those in the military. Last month, the U.S. Attorney’s office in Boston filed suit against PRTaylor Enterprises LLC, a company doing…
