A 40-year-old real estate company in North Carolina has made its initial foray into the self-storage sector and is pursuing even more opportunities in the Southeast. Raleigh, NC-based Rivercrest Realty Advisors recently bought a self-storage facility in Winston-Salem, NC, and launched construction of a self-storage facility in Greenville, SC. Those two facilities represent Rivercrest’s first…
Matthieu Besozzi faced a dilemma. One of his two self-storage facilities in Toulouse, France, was too small to justify the cost of hiring a manager. So he and his colleagues decided to operate the 10,000-square-foot facility remotely, without any staff. However, managing a facility remotely demands regular on-site visits to handle day-to-day tasks, such as…
A new Bay Area on-demand storage company is on a mission to help alleviate the area’s homelessness problem while growing its business. Founded in February 2017, San Francisco-based Boombox Storage has pledged to donate the first month’s rent of any customer who switches from self-storage to its full-service model to a Bay Area homeless shelter….
Atlanta-based Boardwalk Development Group launched its new Boardwalk II investment strategy in mid-August that will target stable, cash-flowing self-storage assets in secondary and tertiary markets throughout the southeastern U.S. SpareFoot recently talked with CEO Rajen Sheth to learn more about what’s driving that strategy and the opportunities he expects to find in the current market….
A regional hotel development and management corporation in the Southeast is the latest player to jump into the booming self-storage market, aiming to one day own more than 100 storage facilities. JHM Hotel Group, a Greenville, SC-based hotel and restaurant company, recently formed TD Self Storage Enterprise LLC and already owns five new self-storage facilities…
For most of his life, Chris Jernigan has had a front-row seat at the self-storage show. In 1985, at age 15, he paid his first visit to a self-storage facility when his dad had him sweep out units at a soon-to-open Storage USA facility in his hometown of Memphis, TN. Jernigan is the son of…
A middle market national investment bank out of Virginia has created a new real estate practice group that will be run by the former principal of a self-storage company. Jeff Weber well serve as the managing director of The McLean Group and head up the firm’s new real estate practice out of its Newport Beach,…
In just 10 years, Columbia, SC-based Taylor/Theus Holdings Inc. has become a regional player in self-storage. Walter Taylor and Bill Theus have been partners in commercial, residential and multifamily ventures for 30 years. In 2007, they began targeting the self-storage sector by converting a vacant Target store in Columbia into a self-storage facility with 75,000…
A North Carolina-based company is raising up to $10 million to acquire self-storage facilities and convert them into fully automated, unmanned operations. Raleigh-based 10 Federal Storage said their acquisition fund will focus on acquiring ‘mom & pop’ operated facilities located throughout the Southeast, with a concentration in North Carolina. The company started raising money in…
For StorageMart CEO Mike Burnam, growth is all about reaching “critical mass” and “playing Monopoly.” In existing markets, the Columbia, MO-based self-storage owner and operator seeks to grow by increasing “critical mass” in existing markets via acquisition or development, Burnam said. Among the existing markets where StorageMart wants to keep “filling in the blanks,” he…
