In 2020, the coronavirus pandemic may have slowed or stopped property acquisitions in some sectors, but that was hardly the case at self-storage REIT National Storage Affiliates Trust. The fourth quarter of 2020 represented the REIT’s busiest quarter ever for wholly owned acquisitions, President and CEO Tamara Fischer said. During the quarter, National Storage Affiliates…

A shift toward remote work helped push up last year’s same-store occupancy rate for self-storage REIT Public Storage. During the company’s Feb. 25 earnings call, President and CEO Joe Russell said demand for self-storage “has been very resilient” during the coronavirus pandemic. Russell pointed to people freeing up space for work-from-home setups as one key…

The coronavirus pandemic may have crushed businesses like restaurants and hotels in 2020, but self-storage REIT Extra Space Storage emerged from the tumultuous year relatively unscathed. Salt Lake City, UT-based Extra Space reported Feb. 22 that same-store rental revenue declined just 0.1% in 2020 compared with the previous year, while same-store NOI dipped 0.7% and…

As Spartan Investment Group continues to expand its self-storage portfolio, it’s putting all of its facilities under the same brand umbrella. The Golden, CO-based company is rebranding 10 of its 12 current self-storage facilities as FreeUP Storage, and it will brand future self-storage acquisitions under the same name. In September, Spartan filed to trademark the…

Janus International Group, a leading maker of doors and access controls for self-storage facilities and other structures, is joining the small club of publicly traded companies in the self-storage industry. Membership in that club should help propel Janus toward its target of $1 billion in annual sales. Annual sales at Janus reached roughly $550 million…

Blackstone Group’s $1.2 billion purchase of Simply Self Storage has helped open the acquisition floodgates. Self-storage specialist Marc Boorstein, principal of Chicago-based real estate brokerage and investment firm MJ Partners Real Estate Services, said that after Blackstone announced the Simply Self Storage acquisition in October, he heard from self-storage REIT executives who told him: “We’ve…

Pinnacle Storage Properties LLC recently hired Bill Lierman as its first-ever construction project manager. Lierman won’t concentrate solely on ground-up development of self-storage facilities, though. Rather, Lierman will focus primarily on upgrading and expanding facilities — a key to the self-storage owner and operator’s growth strategy. For example, Lierman will oversee the addition of about…

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…