The self-storage industry remains resilient as it deals with more than six-months of economic uncertainty amid the coronavirus pandemic, say two leaders of third-party management firm Absolute Storage Management (ASM). The Memphis, Tennessee-based firm, founded in 2002, has grown substantially since launching with just three team members and one management contract. Today it has offices…
Real estate investment firm VanWest Partners just tapped out its initial $30 million self-storage investment fund with the recent purchase of four storage facilities. Now, the Denver, CO-based firm is aiming much higher: a second self-storage investment fund totaling $100 million. In the fourth quarter of this year, VanWest plans to launch the second fund,…
Setting an initial target of quickly amassing a portfolio valued at $1 billion, a Denver, CO-based self-storage startup is scouring the U.S. for facilities to buy, primarily in tertiary markets. Steve Treadwell, CEO of SpareBox Storage, said a portfolio with properties worth $1 billion is the company’s first valuation “goalpost.” Treadwell said that in order…
Fast-growing Neighbor.com is making a bold claim as it flexes its muscles. “The space that we have on the platform today would cost a traditional self-storage facility well over $1 billion to build that space,” CEO Joseph Woodbury said. “Rather than building new space, we’re just tapping unused space that was sitting vacant.” The company…
PODS Founder Pete Warhurst believes the storage industry is ripe for a moving and storage concept he recently introduced in Tampa, FL. The concept isn’t only portable storage nor is it just a moving truck. It’s both. “We are fetchable storage. We are giving the customer another alternative,” Warhurst said. How it works Red Rover…
A Chattanooga, TN-based commercial real estate developer and investor is fueling the growth of its new self-storage division with proceeds from a recent asset sale. Hutton Co. Inc. is on track to launch its first two self-storage developments in early 2021, said Aaron Breeden, vice president of Hutton. Breeden said the company will seek self-storage…
Fresh off its recent sale of three facilities to Extra Space, New Mexico’s Guardian Storage is planning to build two more self-storage buildings, one in Albuquerque and the other just outside Phoenix, Arizona. Paul Hedges, a partner at Guardian Storage, said he hopes to start construction next spring on a new 120,000-square-foot, three-story facility on…
A $20 million project underway in the Austin, TX, market serves as the springboard for what a real estate startup envisions being a national brand of high-end, for-sale storage condos. Construction is set to begin in January or February near the Austin suburb of Lakeway on XSpace’s first luxury storage condo project. The location is…
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,…
A newly created self-storage investment fund recently made its first two acquisitions and is hunting for more facilities to buy. VanWest Storage Fund I LLC, affiliated with Denver, CO-based real estate investment firm VanWest Partners, aims to purchase 10 to 12 facilities totaling roughly 400,000 net rentable square feet, said Jacob Vanderslice, founder and principal…
