Storable, the parent company of SpareFoot, has acquired US Storage Search and its platforms, including Storage.com. Storable issued the following statement announcing the closing of the deal: Storable empowers storage owners through industry-leading technology in many ways, including generating rental reservations through our consumer marketplace, SpareFoot. Our ability to drive high quality reservations has just…
A topsy-turvy 2020 for the self-storage industry most definitely ended up on top in terms of rental prices for storage properties across the county. According to two industry research firms and other industry players, self-storage rental prices finished 2020 comfortably above price levels at the end of 2019, a highly unusual and unexpected year-end development…
Updated 1/27/2021 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…
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…
National solar developer, Pivot Energy, recently announced its collaboration with Extra Space Storage to install 65 rooftop solar systems on storage buildings across eight states, including Alabama, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, and Tennessee. The portfolio totals 5.5 megawatts of emission-free and reliable energy, producing enough electricity to power nearly 1,000 homes for an entire year. The portfolio is estimated to save Extra…
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…
EQT makes major investment in Storable to become the lead investor alongside existing investors, Cove Hill Partners and the Storable management team. Austin, Texas — December, 16 2020 — Storable, the self-storage industry’s leading technology provider, today announced that global investment organization EQT has joined Cove Hill Partners and the Storable management team as an investment…
Corporate budgets for self-storage properties include many different business expenses – from maintenance costs and the water bill to acquiring tenants and mowing grass. Amongst these expenses, one of the most important variable costs includes the monthly electricity bill. According to the 2012 Commercial Building Consumption Survey (a new survey is currently underway), commercial property…
Blackstone Real Estate Income Trust, Inc (BREIT), a REIT managed by the worldwide real estate investment firm Blackstone, has struck a deal to purchase the Simply Self Storage portfolio for an estimated $1.2 billion. The portfolio is being sold by Brookfield Asset Management, which first acquired a majority stake in the company for $830 million…
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…
