The self-storage acquisition market in the Sunshine State is quite sunny, with no clouds in sight. Data supplied to the SpareFoot Storage Beat by data provider Yardi Matrix shows the number of self-storage deals in the 10 Florida metro areas that it tracks jumped 64 percent from the second half of 2017 to the second…
Updated 3/11/2019 This page contains statistics about the U.S. self-storage industry compiled by The SpareFoot Storage Beat. Statistics on this page will be updated as we receive new data. If you have data that you’d like to share or have a question about data on this page, please email editor@sparefoot.com. Self-storage sector snapshot Average monthly…
As lenders cautiously assess risk in a somewhat uncertain economic environment, Talonvest Capital Inc. recently secured an almost $17.5 million loan for acquisition of a three-facility self-storage portfolio in Rhode Island. Irvine, CA-based Talonvest, a self-storage and commercial real estate advisory firm, arranged the $17.455 million loan for an affiliate of Dallas, TX-based Rosewood Property…
One of the biggest names in storage development is taking one of its partners to court. In a nearly $18 million lawsuit, self-storage financing REIT Jernigan Capital Inc. is seeking to foreclose on a storage facility that’s under construction in Miami, FL. The South Florida Business Journal reported that Jernigan Capital Operating Co. LLC, which…
Last year brought big changes to U.S. tax law, due to the passage of the Tax Cuts & Jobs Act. Now that the 2018 tax year is behind us, we checked in with tax experts to find out how self-storage operators can maximize their upcoming tax deductions and make strategic decisions for 2019. Bonus depreciation…
Another year in the self-storage industry has come and gone, and as usual, new milestones were reached and various companies made big moves. Before 2019 gets into full swing, let’s take a moment to look back at the biggest stories of last year. The below headlines are some of our most popular reads of the…
Maybe millennials aren’t such minimalists after all. Self-storage demand continues to remain high in U.S. markets that have cultivated a following among millennials, according to the November 2018 self-storage report from real estate data provider Yardi Matrix. The report says self-storage development activity (planned and under construction) is percolating in several metro areas that draw…
Continuing its trend of converting former retail stores into self-storage and moving facilities, U-Haul International Inc. is snapping up 13 Kmart and Sears locations for $62 million. The purchase by U-Haul’s real estate arm, AMERCO Real Estate Co., of the 13 stores comes as downtrodden retailer Sears Holdings Corp. is closing scores of locations and…
The self-storage industry is still in the early adopter stage when it comes to rooftop solar. But that interest is growing along with a stronger financial case for adding the renewable energy source. Major REITs such as Extra Space Storage, CubeSmart and the non-traded Strategic Storage Trust, have all introduced rooftop solar within their portfolios….
Property taxes already are a pain in the budget for self-storage operators, but that pain could become unbearable for operators of facilities in California. Self-storage operators are keeping a wary eye on a proposal that would overhaul California’s property tax structure — and would bump up property tax bills for their Golden State facilities. One…
