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…
A pair of Silicon Valley entrepreneurs, recently from Uber and Facebook, are the latest to jump into the expanding full-service storage industry with the launch of Trove, a new company that allows customers to schedule pick up, storage and delivery of their belongings via an app. The company publicly launched last month in San Francisco…
A data-loving statistics guru is one factor behind NorthPoint Development’s push to fast become one of the nation’s major players in self-storage. The privately held Riverside, Missouri, company works in industrial properties, multifamily communities and senior living communities as well as self-storage. It has ambitious plans to have 13 self-storage facilities, which it calls Beyond…
Self-storage operators could do a better job of listening to their customers, said Marcus Mollman, founder and CEO of Closetbox, which is fresh off of raising $5.5 million in a round of funding that ended March 22. “I’m not sure anyone in the traditional storage industry has tried to understand what the customer is looking…
Colorado entrepreneur Devin Eldridge has unveiled a new peer-to-peer storage app, and he hopes to get self-storage operators on board as well. Stow, based in Fort Collins, envisions homeowners making extra income from a garage, basement, outbuilding, land or elsewhere on their property. “We want to prove it’s an effective way for people to find…
