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Extra Space Storage is revving up its third-party management engine, undeterred by rival Public Storage’s plan to make a hard run at the business. In 2017, Salt Lake City, UT-based Extra Space brought 156 facilities into its program for managing properties on behalf of third-party owners; about half of those locations were newly built facilities….

They say everything’s bigger in Texas. For self-storage REIT Life Storage Inc., that translates into bigger competitive challenges in 2018 and 2019 in its four big Texas markets — Austin, Dallas, Houston and San Antonio. During a Feb. 22 call with Wall Street analysts, CEO David Rogers said new supply coming online will hit Life…

New life has come to a proposed self-storage facility near the Tramonto development in Phoenix, AZ. Developer High Range Partners withdrew its application after local residents objected to the facility at a meeting of the Phoenix North Gateway Village Planning Committee. But Brexton LLC came along, partnered with High Range Partners and revived the pitch…

Denver, CO-based self-storage storage developer and investor Baron Properties bought EDEO Self Storage in West Allis, WI, for $10.75 million from self-storage developers Gallacher Development LLC and Self-Storage Ventures LLC, both based in Lone Tree, CO. The first phase of the facility, at 11100 W. Cleveland Ave., is a warehouse-to-storage conversion with 531 units in 71,248…

Live Oak Bank’s self-storage lending team has been on a hot streak since its 2015 formation. The Wilmington, NC-based company finished its 165th self-storage loan in December 2017, reaching a combined $350 million in loans made to company owner/operators nationwide. But lending team leader Terry Campbell said things are cooling a bit. “I think we’re going to…

Self-storage REIT CubeSmart expects its same-store portfolio to feel increasing pressure from new supply in 2018. In a Feb. 15 call to discuss 2017 financial results with Wall Street analysts, Tim Martin, chief financial officer of Malvern, PA-based CubeSmart, said 40 percent of its same-store portfolio will face competition from new facilities this year, up…