It’s often been said that the self-storage industry is recession resistant, but is it also inflation resistant? For the time being, it looks that way. Despite recent price spikes in construction materials, energy, wages and other items across the board in the U.S., the self-storage industry is keeping ahead of inflation via rent increases. So…
CubeSmart announced Nov. 15 that it struck a deal to acquire 59 self-storage properties from LAACO Ltd., which operates facilities under the Storage West brand. The total purchase price is $1.69 billion. The Malvern, PA-based REIT also announced that it has commenced a public offering of 13.5 million common shares that will be used to…
Columbia, MO-based StorageMart has struck a deal to purchase the 18-facility Manhattan Mini Storage portfolio in New York City. The portfolio spans 3.1 million square feet, offering a total of 56,000 self-storage units. StorageMart, the world’s largest privately held self-storage operator, announced Nov. 12 that it entered a definitive agreement to purchase the entirety of…
After you start working within the self-storage industry, a very strange phenomenon takes hold. Before you know it, one develops the ability to spot a collection of storage units on either side of the interstate wherever you go. Everywhere you look, there they are. That’s truer now than it’s ever been. Over the last five…
There’s no denying it: Social media is a boon for businesses that know how to use it to their advantage. Just take a look at Storage Asset Management (SAM). Founded in 2010, SAM manages more than 270 stores today, encompassing more than 17 million square feet of self-storage in 33 states — pretty impressive, given…
One of the country’s largest private self-storage operators is planning for a potential IPO, according to sources familiar with the matter. Ladera Ranch, CA-based SmartStop Self Storage REIT is in talks with underwriters in regards to a potential listing, Bloomberg reported August 18. Such a listing could take place as soon as this year, however…
For the first time in four years, all major and secondary metro markets saw street rates for self-storage units rise in April. That’s according to a new industry report from Yardi Matrix that tracks storage rental prices across the country. Year-over-year rates were up 8% for 10×10 non-climate-controlled units and up 9.5% for climate-controlled space….
Self-storage new construction continued its slow but steady recovery through the early spring, due to a strong demand for storage and growing confidence among developers that certain markets still need more supply. The amount of new supply potentially coming on line isn’t anywhere near pre-pandemic levels. In fact, it may take a few more years…
Janus International Group, a manufacturer of doors and other products for self-storage and industrial facilities, has joined the small cadre of publicly traded companies in the self-storage industry. Janus’ stock started trading June 8 on the New York Stock Exchange. The stock opened the day at $14 per share and closed at $13.89 per share….
Climate change is driving extreme and aggressive weather patterns across the country and the world. 2020 witnessed a record of 22 separate billion-dollar weather and climate disasters in the United States alone. These increasingly common natural disasters threaten the safety and stability of individuals, communities, and businesses alike. They also pose a unique problem for…
