U-Haul is seeking to preserve this former service station as part of its plans for a Minneapolis self-storage facility. U-Haul is seeking to preserve this former service station as part of its plans for a Minneapolis self-storage facility.

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…

This CubeSmart managed facility near Orlando is getting a 256-unit expansion. This CubeSmart managed facility near Orlando is getting a 256-unit expansion.

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…

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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…

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As the development cycle kicks into the next gear, Jernigan Capital is rapidly accelerating its self-storage construction loan activity. The company has already closed on $105.6 million in new development investments during the first 60 days of 2017, and has a pipeline of in place of $800 million of additional investments, according to its recently…