84 Lumber in Greeley 84 Lumber in Greeley

With one facility completely occupied, self-storage operator Ken Waddell is developing a second facility in Greeley, CO. Waddell is converting an old 84 Lumber location (pictured above) into a storage facility. The first phase consists of 32,000 square feet of rentable space; he plans to ultimately develop about 100,000 square feet at the 7-acre site….

U-Haul in Wake Forest U-Haul in Wake Forest

Self-storage rentals are becoming an even bigger chunk of U-Haul’s business. Amerco, parent company of Phoenix-based moving and storage company U-Haul International, generated $2.57 billion in revenue during the 2014 fiscal year, which ended March 31. That’s an increase of 12.6 percent over the 2013 fiscal year. Moving equipment rentals, mostly trucks and vans, remain…

A New York City-based storage operator has made its first foray into North Carolina. Andover Properties, operator of the Storage King USA chain of facilities, bought a three-property portfolio in the Fayetteville, NC, area for $14.35 million. The deal closed April 23. The facilities previously operated under the brand name AAA All-American Self Storage and…

C. Bain warehouse C. Bain warehouse

Starting with the development of two facilities, a Northbrook, IL-based apartment developer is breaking into the self-storage business. Banner Storage Group, a subsidiary of Banner Apartments, closed in April on its first self-storage development site. Banner paid $2.2 million for a seven-story, 106,000-square-foot warehouse in Lynn, MA, that it will convert into a storage facility….

Farmington Hills, MI-based operator Storage Pros Management has put a nine-facility, three-state portfolio on the market for $62.5 million. If a deal goes through, the sale would be the company’s first. “We chose these facilities because they are cohesive in that they are institutional-quality and will presumably appeal to the best-capitalized buyers in the industry,”…

Public Storage Miami Public Storage Miami

In a new class-action lawsuit, a Florida man alleges self-storage operator Public Storage deceived customers who bought tenant insurance policies. The suit, filed in federal court in Miami, seeks restitution for all of the insurance premiums paid to Public Storage by its customers over the past four years, an amount that potentially could total hundred…