Self-storage CMBS loan volume soared by 73 percent in 2015 compared to two years prior as investors are increasingly recognizing the value of the niche properties. Specifically, $3.3 billion in commercial mortgage-backed securities (CMBS) loans were issued to self-storage properties in 2015 compared to $1.9 billion in 2013, according to data from Trepp.com. There are…

Reliant Real Estate Management is expected to start construction next month on a new self-storage facility on Vanderbilt Beach Road in North Naples, FL, the first development in the planned mixed-use project called Vanderbilt Commons. The facility (pictured above) will operate under the name Midgard Self Storage and open in November or December, according to…

Last spring, Phoenix, AZ-based Wentworth Property Group bought a shuttered semiconductor plant manufacturing plant in Scottsdale. Wentworth, a 40-year-old real estate company, owns several million square feet of industrial and retail space in Arizona. After buying the former Microsemi plant for $6.75 million, the company was considering self-storage as a possible use—but they weren’t familiar with…

On its sun-baked surface, self-storage may appear an unlikely setting for spiritual enlightenment. But for Larendee Roos, the Wyoming-born daughter of an evangelical minister, her journey into the world of 10x10s has been packed with life-changing existential insights that nourished her soul, fed her family and helped grow Extra Space into the largest self-storage management…

Over the course of 18 months, Tom Poupard was confronted with something he had never seen before as head of his small town’s development office: Three separate proposals to convert three old office buildings into self-storage facilities. As it was, two of the developers later backed out of tentative plans to convert underused office buildings…

Aspen, CO-based Terrapin Investments is seeking permission to build an 110,000-square-foot self-storage facility with 774-units just outside of Petaluma, CA at 2645 Petaluma Boulevard South. Terrapin purchased the site, a former truck scale, for $1.4 million in December. Petaluma City Council voiced concerns that the project is not the best gateway to their city in…

A Canadian asset management company is poised to acquire an $830 million stake in Orlando, FL-based Simply Self Storage, the eighth largest self-storage operator in the US. Toronto-based Brookfield Asset Management will acquire the stake via its Brookfield Strategic Real Estate Partners II Fund. Terms of the deal were first made public in a board meeting document…