Citing the resilience of the self-storage sector demonstrated during the coronavirus pandemic, self-storage REIT National Storage Affiliates has taken a step that its publicly held rivals have not. Earlier in the pandemic, National Storage Affiliates pulled its financial forecast for 2020, just as three of its main competitors had done. But on Nov. 5, the…

The coronavirus pandemic may have prompted a nationwide shutdown of businesses and schools. Yet the pandemic has hardly shut down Public Storage’s quest to build its portfolio. The Glendale, CA-based self-storage REIT has purchased or agreed to purchase 54 facilities in 18 states since the end of September. In all, Public Storage is paying $686.9…

Life Storage is dipping its toe into an emerging segment of e-commerce — micro-fulfillment. The self-storage REIT’s Warehouse Anywhere e-commerce platform has teamed up with San Francisco, CA-based Deliverr, a tech-enabled fulfillment service, to open one micro-fulfillment center at a Life Storage facility in Las Vegas and another at a Life Storage facility in Chicago….

For Extra Space Storage, anticipated headwinds from the coronavirus pandemic have shifted to tailwinds. Joe Margolis, CEO of the Salt Lake City, UT-based self-storage REIT, said during the company’s Nov. 5 third-quarter earnings call that “tailwinds have proved stronger than we expected, while the headwinds have not been as significant or have not materialized.” Margolis…

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A near zero rate of CMBS loan delinquencies for self-storage facilities during the pandemic-fueled recession helps demonstrate the industry’s resilience, according to a new report from data and analytics provider Trepp LLC. The report, released this month, shows that while CMBS delinquency rates generally have soared during the pandemic — particularly in the hotel and…

In recent years, a partnership between Devon Self Storage and Inland Private Capital Corp. has purchased two dozen self-storage facilities. Now, the two companies are pivoting to redevelopment opportunities in Opportunity Zones. Devon and Inland Private Capital recently launched an initiative that’ll seek to buy existing properties — including former stores, office spaces and manufacturing…

Real estate investment firm VanWest Partners just tapped out its initial $30 million self-storage investment fund with the recent purchase of four storage facilities. Now, the Denver, CO-based firm is aiming much higher: a second self-storage investment fund totaling $100 million. In the fourth quarter of this year, VanWest plans to launch the second fund,…

Setting an initial target of quickly amassing a portfolio valued at $1 billion, a Denver, CO-based self-storage startup is scouring the U.S. for facilities to buy, primarily in tertiary markets. Steve Treadwell, CEO of SpareBox Storage, said a portfolio with properties worth $1 billion is the company’s first valuation “goalpost.” Treadwell said that in order…

If there’s a silver lining in the coronavirus pandemic for Life Storage, it’s the boom in popularity of its Rent Now contactless rental platform. The Williamsville, NY-based self-storage REIT unveiled the Rent New program in July 2018. During the company’s second-quarter earnings call on Aug. 7, CEO Joe Saffire said the share of rentals completed…