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National Storage Affiliates purchased the self-storage facility at 2015 8th Avenue W. in Palmetto, FL for $4.48 million (pictured above). The seller was Investment Properties of Sarasota LLC. NSA will operate the facility under the Hide-Away Storage name. An entity called 191 III 771-775 LLC purchased the 72,150-square-foot self-storage facility at 601 Martin Avenue in…

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CubeSmart is tempering its outlook for 2017 as it faces competition from new supply and reduced growth from occupancy gains. As it squares off with new competition, CEO Christopher Marr said the company must reach customers first and price their product accordingly. “We are facing new supply entering our markets, therefore our proficiency in engaging…

U-Haul U-Haul

U-Haul will continue to seek growth in its self-storage business after 12 months of adding about 3.5 million net rentable square feet—two-thirds from its own developments, one-third from acquisitions—the company reported in results for the third quarter of fiscal year 2017, which ended December 31, 2016. “Self-storage continues to be a very competitive, very market-specific…

elephant in a room elephant in a room

The storage industry’s major publicly traded companies face a market dilemma when some of them start releasing earnings – and forward-looking performance guidance – later this week. The Big Four could express over-optimism moving forward, even though most industry numbers point to a decelerating market for the storage business across much of the nation. Or…

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A New York startup believes payroll data provides a more accurate view of self-storage demand than the industry’s long-held focus on population metrics. Union Realtime will soon unveil a technology offering, called Genesis, for self-storage owners/operators that tracks payroll data and other metrics to help them make business decisions such as where to acquire or…