For years, institutional investors and equity funds mostly shied away from the self-storage sector. In 2015, they represented just 5 percent of self-storage acquisitions of at least $2.5 million, data from Marcus & Millichap Research Services and Real Capital Analytics shows. But the institutional tide keeps turning in self-storage. Through August of this year, institutional…
Avid art collector Steven Guttman, who’s founder and chairman of self-storage developer and operator Storage Deluxe Management Co., is crafting a lucrative business out of the art and science of storing fine art, couture clothing and collectibles. The high-end storage provider that Guttman founded, New York City, NY-based UOVO, is gearing up to open its…
Alain Gingras is going to be a busy man over the next 30 months and beyond. A long-time veteran of the self-storage industry, Gingras earlier this summer was appointed senior director of operations for the fast-growing StorageMart – and he and others have already gotten the company’s marching orders: Grow the privately owned StorageMart by…
Owned by Santa Monica-based real estate firm The William Warren Group, storage operator StorQuest Self Storage has steadily grown from its SoCal beginnings into a network of 145 self-storage facilities across the country. As developers churn out new facilities across the country, StorQuest is putting an even bigger emphasis on its third-party management platform than ever before. Many of…
Might NorthPoint Development’s new project in Farmington Hills, MI serve as a potential template for future self-storage developments as America’s population ages? The Riverside, MO-based NorthPoint earlier this summer got the go-ahead from Farmington Hills, a city of 81,000 people northwest of Detroit, to build a new complex that includes one of its Stonecrest Senior…
PTI Security Systems has rolled out a new security-and-access technology product that it says will go a long way towards the eventual automation of numerous other functions at self-storage facilities. Earlier this month, the Arizona-based PTI, which provides both hardware and software products tied to self-storage access and security, released its new “PTI Core,” described…
A Tampa, FL-based real estate investment and development group has turned to its backyard to launch a self-storage business that already boasts a pipeline filled with projects totaling $64 million. Broome Storage LLC, an affiliate of Broome Capital LLC, has six self-storage projects in the works in the Tampa-St. Petersburg area, Jordan Farrales, the firm’s…
Storage Express is pumping up its Midwest portfolio of self-storage facilities, snapping up 12 properties in Illinois. “The optics of this deal don’t come along every day for us,” said owner and founder Jefferson Shreve. “We jumped at the opportunity.” He declined to give financial details about the Illinois transaction, only to say it was…
Could the empty corner in your neighbor’s garage compete against the newly built self-storage facility off the interstate? The founders of a new startup and its new financial bakers definitely think so. Neighbor, a Salt Lake City, UT, company that matches people with spare space to rent out in their homes, garages or apartments with…
Long Island-based Zippboxx is one of the latest entrants into the growing on-demand self-storage segment. On-demand storage, which also has been called valet storage or full-service storage, adds technology and convenience to the self-storage mix by offering consumers the convenience of storing their stuff without ever leaving their house or apartment. ZippBoxx, based in Hauppauge,…
