With a new partner on the team, Columbia, SC-based Taylor/Theus Holdings Inc. aims to grow its self-storage portfolio to 40 to 50 facilities within the next three to five years through ground-up developments and acquisitions. Steve Moffat recently joined Taylor/Theus as its third partner after serving as director of real estate at Extra Space Storage….
Although new supply has tamped down rents, it isn’t deterring self-storage owners and operators from mining for new opportunities in the sector. New deliveries continue to weigh on street rates, according to Yardi Matrix, producing a 2.5 percent year-over-year decline in street rates for standard 10×10 non-climate controlled space. Still, operators and investors with a…
A five-facility self-storage portfolio in the New York City, NY, market that just went on the market could fetch at least $200 million. Competition for the portfolio is expected to be fierce. Mike Mele, vice chairman of Cushman & Wakefield, which has the listing, told the SpareFoot Storage Beat that he anticipates at least eight…
The United Parcel Service is taking aim at the $38 billion dollar self-storage industry with its latest service: Storage on Demand. The shipping and logistics company has launched the new service in the Atlanta metro area. Customers who use the service will have a brown UPS truck drop off an empty plastic crate. The customer…
Clutter Inc.’s recent $152 million purchase of four Storage Fox facilities in the New York City, NY, market apparently isn’t the end of the shopping spree for the provider of on-demand storage. Ari Mir, co-founder and CEO of Clutter, said the Culver City, CA-based startup will evaluate buying more self-storage facilities in the markets where…
For the last several years, Los Angeles-based Clutter has made a name for itself as a leader in the burgeoning “on-demand storage” industry and a disruptor of the traditional self-storage industry. Now the company has announced a bold, new strategy: it is expanding into the traditional self-storage space. “In the spirit of saying ‘yes’ more,…
The latest industry data suggests that new supply is creating some strong crosswinds that could hinder the self-storage industry – at least in the near term. Although last year likely represented the peak in construction activity for this cycle, there is still a robust pipeline of projects still in the works. “Rather than a peak…
Although Wall Street may be jittery about a looming recession, the five publicly traded self-storage REITs are enjoying a bullish run in the stock market. As of Aug. 30, the stock prices of all five REITs were sitting near their 52-week highs. Helping push up the stock prices: The REITs generated same-store revenue growth in…
Doorage, the Chicago valet storage company started only two years ago, has announced it has launched a nationwide pickup-and-delivery service via a “national warehouse system” that it recently established in key markets around the country. Recently operating in only three Midwest cities, Doorage has been beta testing its nationwide pick-up-and-delivery system over the past four…
A major credit-rating agency has raised concerns about the self-storage industry’s mounting exposure to CMBS loans, but an executive who arranges financing for self-storage deals says there’s no need to ring the alarm. In a recent report, analysts with S&P Global Ratings said they now view self-storage exposure to CMBS “cautiously” because of the short-term…
