2531 Shirlington Road 2531 Shirlington Road

Self-storage REIT CubeSmart is developing a five-story storage facility in Arlington, VA, a suburb of Washington, DC. CubeSmart bought the nearly 4.7-acre property and two-story warehouse, at 2631 Shirlington Road (top photo), in November for $13.1 million, according to local property records. The site is occupied by Redman Fleet Services. In 2011, the site was…

stortrack stortrack

A Silicon Valley startup has developed a service that promises to guide self-storage operators in making better pricing decisions. StorTrack is a new online subscription service that lets self-storage operators view real-time rental rates at nearby competitors. Competing with the ‘top guys’ Users type their store location and the radius of miles for their market…

Brian Somoza Brian Somoza

Brian Somoza (pictured above) has been hired as a managing director at commercial real estate giant JLL (formerly Jones Lang LaSalle) to focus on self-storage properties. He will work alongside Steve Mellon, a managing director who also specializes in self-storage. Before joining JLL, Somoza spent three years at self-storage REIT Public Storage as acquisition manager. “My…

pile of cash pile of cash

Occupancy, rental rates and revenue rose in 2013 at the four publicly traded self-storage REITs — and so did executives’ paychecks. Most executives among the publicly traded storage REITs received higher compensation last year, according to proxy statements filed with the U.S. Securities Exchange Commission by the four REITs: Public Storage, Extra Space, Sovran Self…