Cameron Smith’s son is not yet 2 months old, but already has his first movie credit. His star turn just may help his parents grow their fledgling business, SquirrelBox Valet Storage, in Colorado and eventually in other states. Little Parker pops up 58 seconds into Smith’s upbeat, humorous presentation that won the $20,000 first prize in…

CubeSmart recently purchased the 71,872-square-foot Ballantyne Storage of Charlotte facility at 16155 Lancaster Highway for $10.6 million. The property was sold by Arey Holdings LLC. The facility occupies a 2.36 acre parcel and was built in 2008. Irvine, CA-based Westport Properties purchased a portfolio of four facilities in Texas from RHW Capital Management Group, operator of…

The developer of a proposed self-storage facility in Morristown, NJ has shaved a floor off of its original plan in an attempt to appease residents. Hampshire Properties reduced their original plan for a 100,000-square-foot, five-story storage building, to a four-story structure. Other revisions to the plan include increased green space, updated architecture and off-site public…

The following article represents the opinion of the author.  The self-storage industry may be cooling off in the top 10 MSAs across the country, but Minneapolis is just starting to heat up. Offers from the largest REITs have been accumulating quickly for Minneapolis and suburban facilities. CubeSmart, Extra Space Storage, and other national large operators are taking…

National Storage Affiliates National Storage Affiliates

The storage industry’s newest REIT is bucking the trend of slower growth, for now. During the third quarter, National Storage Affiliates reported same-store revenue growth of 7.2 percent and same-store net operating income grew 9.5 percent—besting its other public peers Public Storage, Extra Space Storage, Life Storage and CubeSmart. NSA has 352 same-store locations; the…

Storage REITs are finding that “good” may not be good enough to entice investors. The publicly traded storage REITs continue to outperform their REIT industry peers, but investor interest shows signs of cooling along with expectations of slower growth ahead. “Overall, the self-storage industry looks healthy,” said Brad Schwer, an equity analyst at Morningstar in…

Phoenix-based Wentworth Storage Co. LLC purchased two industrial properties in San Diego and Chula Vista with plans to convert them into self-storage facilities. The company paid approximately $27.8 million for both properties, according to the San Diego Business Journal. The properties are located at 12340 World Trade Drive in San Diego and 2391 Fenton Street…

JCAP markets JCAP markets

The self-storage industry is entering a cool off period and new development could hit small entrepreneurs in the years to come, according to Dean Jernigan, CEO of Jernigan Capital. “It is not going to be good for small entrepreneurs with this new supply coming, no question,” Jernigan said during the company’s third quarter earnings call….