As students at Cornell University in Ithaca, NY, Dan Hagberg and Nick Huber launched Storage Squad in 2011. In the span of a decade, the valet-storage company for college students blossomed into a 35-school, 10-state operation. But in January, the two men sold Storage Squad to Wake Forest, NC-based portable storage operator 1-800-PACK-RAT for a…
Stache, a company growing the sharing economy, is expanding its storage marketplace to Atlanta, Charlotte, Raleigh, and the Chapel Hill-Durham communities, building out its business in the Southeast region. Self-storage units are heavily used, with one in 10 American families renting space every year. Stache provides an alternative where people can share their excess space…
With revenue growth five times that as the previous year, startup Neighbor has raised $53 million it will use to compete head to head with traditional self-storage industry stalwarts. The Lehi, UT-based company offers a peer to peer platform for renting self-storage. Users can rent out extra space in their homes or offices using the…
City Line Capital ended last year with a bang. The Pennsylvania-based investment firm has announced the acquisition of eight self-storage properties in December, bringing its total 2020 acquisitions to 26 facilities and 134 assets since the firm was founded in 2017. The properties acquired last month are located in Pennsylvania, West Virginia, Louisiana and Florida…
A family-owned self-storage operator on the East Coast is looking for a buyer for its 48-property portfolio. If successful, the deal could fetch north of $2 billion—making it among the largest portfolio transactions in self-storage history. According to a source affiliated with a potential purchaser, Columbia, MD-based ezStorage is shopping its portfolio to a limited…
Westport Properties, an Irvine, CA-based owner and operator of self-storage facilities under the US Storage Centers brand, has merged with Vertex Investments, a privately held real estate investment company focused on multifamily investments. The merged company will operate as two separate verticals, one focused on self-storage development, acquisition and management and the other on multifamily…
As Spartan Investment Group continues to expand its self-storage portfolio, it’s putting all of its facilities under the same brand umbrella. The Golden, CO-based company is rebranding 10 of its 12 current self-storage facilities as FreeUP Storage, and it will brand future self-storage acquisitions under the same name. In September, Spartan filed to trademark the…
Seth Bent is at it again. The founder of Red Dot Storage, owner of fully automated self-storage facilities around the country, has launched a new interactive brokerage platform. The new venture, called Storage Exchange, aims to help sellers and buyers of facilities to more easily conduct transactions – and pay lower brokerage fees in the…
Pinnacle Storage Properties LLC recently hired Bill Lierman as its first-ever construction project manager. Lierman won’t concentrate solely on ground-up development of self-storage facilities, though. Rather, Lierman will focus primarily on upgrading and expanding facilities — a key to the self-storage owner and operator’s growth strategy. For example, Lierman will oversee the addition of about…
Elevation Capital Group strongly believes it’s found a winning formula by investing in a combination of self-storage facilities and mobile home parks. Its Fund 7 (MHPI VII LLC) opened in April 2017, attracted more than 500 members and raised $150 million – in an offering that began with a $100 million maximum—before closing April 1,…
