Is the self-storage industry ready for blockchain technology? Texas-based Pinnacle Storage Properties is betting that it is. The owner-operator is both a founding partner and one of the first sponsors to commit to listing its assets on the Earn.re fundraising platform, which is set to debut later this fall. Like many growing companies, Pinnacle Storage…

A joint venture between CubeSmart and Heitman LLC was the recent seller of a 50-facility self-storage portfolio that fetched nearly $294 million, CubeSmart revealed July 26. When the deal was announced July 11, the seller was identified only as a joint venture between an institutional investment adviser and a publicly traded self-storage REIT. The sale…

JLL Capital Markets secured $6.2 million to back the construction of Sachse Self-Storage in Sachse, TX, a suburb of Dallas-Fort Worth. Austin, TX-based Central Southwest Texas Development LLC is the developer. The three-story facility will have 906 climate-controlled units and 91,170 net rentable square feet at 7970 Woodbridge Parkway. JLL’s Griffin Guthneck, CW Sheehan and…

Lake Forest, IL-based Metro Storage LLC purchased two self-storage facilities — one in Florida and the other in Tennessee. In Florida, the company bought an Extra Space Storage-branded facility in Orlando. The seller wasn’t identified; the purchase price wasn’t disclosed. The facility, at 7500 W. Colonial Drive, encompasses 641 units in 62,607 rentable square feet….

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A major credit-rating agency has raised concerns about the self-storage industry’s mounting exposure to CMBS loans, but an executive who arranges financing for self-storage deals says there’s no need to ring the alarm. In a recent report, analysts with S&P Global Ratings said they now view self-storage exposure to CMBS “cautiously” because of the short-term…

A vacant Grand Union supermarket at 170 Clay Pond Road in Monument Beach, MA, may become a self-storage facility. Project developers propose to renovate the former grocery store, plus build a two-story, 15,000-square-foot addition next to lt. In total, there would be 105,660 square feet for storage. In addition, they have proposed 35,600 square feet…