The coronavirus pandemic has brought the economy to a halt and made it difficult for first-time business owners to find the financing they need to get started. The self-storage industry is not immune to the world’s economic woes, but that doesn’t mean that first-time self-storage investors can’t find the financing they need to enter into…
Self-storage broker Cameron Vale is helping a multibillion-dollar conglomerate gain ground in the storage industry. Vale recently joined the newly formed Berkshire Hathaway Storage Group as senior vice president. The Greenville, SC-based group is affiliated with Berkshire Hathaway Inc., the investment juggernaut led by billionaire Warren Buffett. The group represents Berkshire Hathaway’s entry into self-storage…
InSite Property Group is a multifaceted real estate investment group with 25 development deals in place across the country—22 of them are self-storage. It operates its storage facilities under the name SecureSpace. The firm has completed and opened three so far, the latest is a 75,000 net rentable square foot facility in Camarillo, CA with…
Since starting Red Dot Storage in 2013, I have been a vocal proponent of automated management solutions in the self-storage industry. For Red Dot, automation created a highly scalable management platform that facilitated rapid growth from a single property to over 180 locations, throughout 16 states. Red Dot’s ability to quickly integrate assets into the…
The economic impact of the coronavirus pandemic has hit the nation’s self-storage industry – dealmakers, owners, operators, developers and others all trying ways to adjust. Risk-averse behavior has grown among developers and bankers; non-recourse funding has almost disappeared, accounting for a jump in recourse deals. Deal making has slowed, with CMBS (commercial mortgage-backed securities) on…
With the COVID-19 pandemic shutting down parts of the U.S. economy, it is absolutely critical to understand the differential in costs between customer acquisition and customer retention in your business. In economics, we use the 5-to-1 ratio as a typical average and I will use that in my analysis below. This ratio assumes that it…
Steven Weinstock is the national director of the Marcus & Millichap Self Storage Division. Weinstock, based out of Chicago, also serves as a first vice president and regional manager of Marcus & Millichap’s Chicago Oak Brook office and specializes in investment commercial real estate sales. SpareFoot talked with Weinstock about the 2020 investment outlook for…
Cushman & Wakefield’s Self-Storage Advisory Group is coming off a busy year, brokering $412 million in property sales nationally. The SpareFoot Storage Beat recently spoke with Mike Mele, vice chairman and group lead to hear about what drove that growth, as well as his views on what’s ahead for the self-storage investment market in 2020….
While researching self-storage facilities as an investment, you may have come across the idea that they tend to show resistance to recessions and economic slowdowns when compared with other commercial real estate investments. Let’s take a look at what makes self-storage an attractive option for real estate investors who may be searching for ways to…
In April, self-storage industry veteran Ben Carr joined self-storage owner and developer MCSS Development & Investment LLC as president. Six months later, in October, Carr has grabbed a new opportunity as president and chief investment officer at self-storage owner and developer Go Store It. In his new positions, Carr will manage Go Store It’s investment…
