Extra Space solar Extra Space solar

The self-storage industry is still in the early adopter stage when it comes to rooftop solar. But that interest is growing along with a stronger financial case for adding the renewable energy source. Major REITs such as Extra Space Storage, CubeSmart and the non-traded Strategic Storage Trust, have all introduced rooftop solar within their portfolios….

Property taxes already are a pain in the budget for self-storage operators, but that pain could become unbearable for operators of facilities in California. Self-storage operators are keeping a wary eye on a proposal that would overhaul California’s property tax structure — and would bump up property tax bills for their Golden State facilities. One…

U-Haul parent company Amerco Real Estate Co. purchased a recently built facility in Nashville. The 1,058-unit facility at 506 Fesslers Lane was completed in March by the seller, Lexington, KY-based Andover Management Group. The property previously operated as Citadel Self Storage. HFF represented the seller in the transaction. The purchase price was not disclosed. Red Dot…

Talonvest Capital Inc., which is based in Irvine, CA, has closed $48 million of construction loans for self-storage facilities in Hawthorne, CA, and Portland, OR/Vancouver, WA. The Hawthorne transaction was $20 million for the William Warren Group to build a four-story, 113,625-square-foot site at 4959 W. 147th St., off the 405 Freeway. It’ll be an…

Williamsville, NY-based Life Storage Inc. purchased Storage Solutions in Sacramento, CA, from Los Angeles, CA-based Storage Solutions for $10.3 million. Once an expansion is completed, the facility, at 181 Main Ave., will offer 631 units in 84,240 net rentable square feet. The projected asking price was $13.5 million to $14.5 million. Classic Storage Detroit in…