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…
Thanks to a fresh infusion of capital from a New York-based private equity firm, self-storage builder Mako Steel Inc. plans to expand its geographic reach by opening an East Coast satellite office with as many as 10 employees. Larchmont, NY-based New State Capital Partners LLC recently purchased a majority stake in Carlsbad, CA-based Mako Steel…
Prime Storage Group, one of the country’s largest privately held owners and operators of self-storage facilities, is refinancing debt through a CMBS loan package totaling $278 million. This transaction is backed by two fixed-rate loans collateralized by 49 facilities in 17 states that are owned and operated by Saratoga Springs, NY-based Prime Storage Group, according…
Over the course of last year, self-storage marketplace SpareFoot merged with industry software providers SiteLink and storEDGE. Now the combined companies have united under a newly formed brand identity called Storable. Storable, which also includes recent acquisition Select Merchant Solutions, bills its self as a “technology-first” provider of a “suite of solutions designed to empower…
Simplify Valet Storage has launched on-demand services to the five boroughs of New York City with the promise of a three-hour response time for the return of stored items. The company is based in Long Island City and bootstrapped by entrepreneur Donal O’Sullivan, who works in the construction industry. “He built a [storage warehouse] in…
Now that Chicago-based Doorage has expanded its valet storage business to the cities of Madison and Milwaukee in Wisconsin, the company’s founder says he’s aiming to launch in three additional markets by the end of this year. In addition, Sean Sandona, who founded Doorage in 2016 and officially launched the pick-up-and-delivery storage business in 2018,…
As the new president of MCSS Development & Investment LLC, Ben Carr is “prudently” hunting for self-storage acquisitions and development sites in major markets across the U.S. In fact, Carr, a veteran of the self-storage industry, was in full deal-pursuit mode at the just-concluded Inside Self-Storage World Expo in Las Vegas, NV. The announcement of…
Seeking to concentrate on growing its hotel business, Virginia Beach, VA-based real estate company Suburban Capital Inc. has sold its entire self-storage portfolio for $75 million. Suburban Capital executives said March 28 that Glendale, CA-based self-storage REIT Public Storage bought most of the 12 self-storage facilities in its portfolio — primarily in Virginia’s Hampton Roads…
The unmanned model for self-storage sites brings up questions: Are owners of such facilities worried about theft and vandalism, and about frustrating customers that can’t find help behind a desk? The leaders at Red Dot Storage in Louisville, CO, answer with a resounding “no.” The unmanned model has worked well for the 2013 startup, which…
