More change is in the air for the self-storage industry. In mid-January, Newmark Knight Frank added Chris Sonne and Jonathan Lang to its Valuation & Advisory Self-storage practice. Both moved to NKF’s Irvine, California, office from CBRE’s Newport Beach office. NKF created a self-storage valuation specialty about six months ago and has added several industry…
Investors getting whipsawed by the stock market could push to diversify more heavily into real estate in 2019, and if they do, self-storage could be the ticket for higher returns than institutional-grade property types. The Dow Jones Industrial Average (DJIA) finished 2018 down 3.5 percent and lost 13 percent of its value between October and…
Long Island-based Zippboxx is one of the latest entrants into the growing on-demand self-storage segment. On-demand storage, which also has been called valet storage or full-service storage, adds technology and convenience to the self-storage mix by offering consumers the convenience of storing their stuff without ever leaving their house or apartment. ZippBoxx, based in Hauppauge,…
A New York startup believes payroll data provides a more accurate view of self-storage demand than the industry’s long-held focus on population metrics. Union Realtime will soon unveil a technology offering, called Genesis, for self-storage owners/operators that tracks payroll data and other metrics to help them make business decisions such as where to acquire or…
An East Coast company has put its own twist on fully automated self-storage, and customers have responded with resounding approval. 10 Federal Storage LLC opened its first built-from-the-ground-up automated and unmanned 155-unit self-storage facility in Graham, NC, in mid-2016 and it took just six months to lease it up — a rate twice as fast…
It’s been less than six months since Move It Self Storage entered the Louisiana market with five self-storage facilities, including four in flood-damaged Baton Rouge. Within days of the flooding, all five facilities were 100 percent leased as flood weary residents secured units to store household goods as they wait for insurance adjusters to do…
Handy, a web and mobile-based platform for on-demand household services, is the latest entrant in the city’s growing full-service storage market. Handy is adding valet storage to its line up of other services in the borough of Manhattan with an eye on expanding the service to other markets in the future. Handy’s core offering is on-demand…
Getting a new self-storage facility through the entitlement process has always been difficult, but it’s especially challenging as municipalities add layers of regulations and restrictions despite strong consumer demand for self-storage. “The big issue on regulations is that it is so location specific,” said Justin Hodge, an attorney with Johns Marrs Ellis & Hodge law…
Self-storage conversions are creating a buzz as the self-storage industry looks to expand supply to meet growing demand amid difficult municipal zoning and permitting environments across the nation. “It’s really been a trend over the last couple of years,” said Jeffrey Shouse, executive managing director of valuation & advisory services at Colliers International. “We are…
Self-storage valuations are on the rise as the sector gains favor with investors amid several years of strong, solid growth. “People are looking for places to put their money and out of all asset classes self storage has been the most profitable,” says Jeff Shouse, executive managing director of Collier’s Valuation & Advisory Services. Increasing…
