Public Storage continues to grapple with decelerating same-store revenue growth as it faces slower rental growth and declining occupancy rates brought on by record-levels of new self-storage development. The company saw same-store revenue grow 2.4 percent during the third quarter of 2017, a slowdown from 5.1 percent same-store revenue growth the same quarter last year. The quarter marks…

U-Haul is all about reusing old, neglected buildings through its adaptive reuse program. However, sometimes cities have a different vision as they redevelop their urban neighborhoods. U-Haul purchased a 1.74-acre site at 42nd Street and Hiawatha Avenue in south Minneapolis’ Longfellow neighborhood. The site sits on the busy Hiawatha Blue Line Corridor, which connects downtown Minneapolis…

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Hit by a rising tide of new construction and economic trouble spots across the country, publicly traded self-storage REITs have pulled back significantly from their acquisitions of existing facilities. Acquisitions by the top five self-storage real estate investment trusts (REITs)—Public Storage, Extra Space Storage, CubeSmart, Life Storage and National Storage Affiliates—are off by an annualized…

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Some industry observers warn of potential overbuilding within the self-storage industry, but Dean Jernigan is confident that the development cycle is still in the middle-innings. “We’re just past the midpoint of this development cycle, in the fifth or sixth inning,” said Jernigan, CEO of Memphis, TN-based Jernigan Capital, during the company’s quarterly conference call with…

Like its public peers, self-storage operator CubeSmart experienced another quarter of revenue decleration, which CEO Chris Marr said is likely to continue through the rest of the year. “The magnitude quarter-by-quarter is going to be highly influenced by what happens as we move into the busy season,” Marr said during the company’s conference call with…

National Storage Affiliates Trust had plenty to boast about at its year-end report–revenue jumped about 66 percent and the company expanded its portfolio by more than a third during 2016. The real estate investment trust also announced another milestone, just before releasing its year-end earnings report on Feb. 28. The company signed up its eighth…