Fast-growing Neighbor.com is making a bold claim as it flexes its muscles. “The space that we have on the platform today would cost a traditional self-storage facility well over $1 billion to build that space,” CEO Joseph Woodbury said. “Rather than building new space, we’re just tapping unused space that was sitting vacant.” The company…
PODS Founder Pete Warhurst believes the storage industry is ripe for a moving and storage concept he recently introduced in Tampa, FL. The concept isn’t only portable storage nor is it just a moving truck. It’s both. “We are fetchable storage. We are giving the customer another alternative,” Warhurst said. How it works Red Rover…
A Chattanooga, TN-based commercial real estate developer and investor is fueling the growth of its new self-storage division with proceeds from a recent asset sale. Hutton Co. Inc. is on track to launch its first two self-storage developments in early 2021, said Aaron Breeden, vice president of Hutton. Breeden said the company will seek self-storage…
Fresh off its recent sale of three facilities to Extra Space, New Mexico’s Guardian Storage is planning to build two more self-storage buildings, one in Albuquerque and the other just outside Phoenix, Arizona. Paul Hedges, a partner at Guardian Storage, said he hopes to start construction next spring on a new 120,000-square-foot, three-story facility on…
A $20 million project underway in the Austin, TX, market serves as the springboard for what a real estate startup envisions being a national brand of high-end, for-sale storage condos. Construction is set to begin in January or February near the Austin suburb of Lakeway on XSpace’s first luxury storage condo project. The location is…
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…
