Alain Gingras is going to be a busy man over the next 30 months and beyond. A long-time veteran of the self-storage industry, Gingras earlier this summer was appointed senior director of operations for the fast-growing StorageMart – and he and others have already gotten the company’s marching orders: Grow the privately owned StorageMart by…
President Trump’s imposition of trade tariffs – especially on steel – is causing major financial and planning headaches within the self-storage construction industry and stoking fears it could harm developments in the long run. From builders to lenders, officials say tariffs are forcing developers to re-calculate the costs of projects, sometimes adding 5 to 10…
Might NorthPoint Development’s new project in Farmington Hills, MI serve as a potential template for future self-storage developments as America’s population ages? The Riverside, MO-based NorthPoint earlier this summer got the go-ahead from Farmington Hills, a city of 81,000 people northwest of Detroit, to build a new complex that includes one of its Stonecrest Senior…
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…
There is a storage boom happening in Omaha, but it might be more than the biggest city in Nebraska can handle. An unprecedented building spree in Omaha may lead to a glut of new storage supply that could soon depress prices in that state’s largest city, according to a report penned by Alex Burnam, senior acquisitions…
A Las Vegas company is betting that its purchase of the industry-specific domain “.storage” will pay off in coming years, ideally with thousands of firms and people buying the effective right to use the suffix for their web addresses and general Internet purposes. XYZ.com LLC, a domain registry operator based in Las Vegas, bought the…
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…
