Integrated Properties to Convert Medical Center to Self Storage in Birmingham AL

Real estate developer Ed Drummond of Integrated Properties LLC received zoning approval on Tuesday to convert a former medical center to self-storage in the Crestwood South neighborhood of Birmingham, Ala. The city council agreed to rezone the 4.7-acre site at 720 Montclair Road from a health and institutional district to general business. Drummond is under contract to purchase the 50,000-square-foot …

Nuvo Development Builds 5 Story Self Storage Facility in Jacksonville FL

Nuvo Development LLC is building a five-story self-storage building in the Brooklyn neighborhood in Jacksonville, Fla. The company paid $1 million for the .73-acre parcel at the northwest corner of Myrtle Avenue and Elder Street on which to construct a 91,700-square-foot facility. Jacksonville Self Storage will resemble an office building and include a small parking area with a “drop-off and …

Self Storage REITs Release Financial Results for Third Quarter 2017

Via insideselfstorage.com   The five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc.—have released financial statements for the quarter that ended Sept. 30, 2017. In general, the companies showed gains in key areas, particularly funds from operations (FFO) and net operating income (NOI), …

Jernigan Capital Comments on New Self Storage Supply in Top 50 US Markets

Via insideselfstorage.com Officials at Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, believe the current rate of new facility supply coming to market has been largely overstated in terms of projects expected to follow through to completion this year and in 2018. The company forecasts development activity will peak between this year and the end …

Bee Safe Plans Downtown Self Storage Facilities in Charlotte and Winston Salem NC

Via insideselfstorage.com Bee Safe Storage and Wine Cellar, a Greensboro, N.C.-based self-storage operator with five locations in the state, is planning two new facilities in Charlotte and Winston-Salem, N.C., its first in downtown markets. The Charlotte project has caused some controversy due to its proximity to a light-rail station, while the other is slated to be built across from a …

Merit Hill Capital Buys 6 Property Compass Self Storage Portfolio in Memphis TN

Via insideselfstorage.com Merit Hill Capital LP, an investment firm launched late last year to pursue self-storage acquisitions and development opportunities, has purchased a six-property Compass Self Storage portfolio from the Amsdell Cos. The facilities serve the Memphis, Tenn., metro area, with three in Tennessee and three just over the Mississippi border. Together, the properties comprise 337,846 square feet in 2,391 …

Ziff Properties bought one storage business and sold another

Via postandcourier.com Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise. Mount Pleasant-based Ziff Properties recently bought one storage business and sold another one. The company acquired Taylors Storage, a 43,000-square-foot facility and the business on 12 acres in Taylors near Greenville for $3.5 million. Ziff plans to renovate and expand the facility, which currently contains only climate-controlled …

Converting Existing Buildings To Self-Storage Facilities

Self-storage facilities continue to be popular and in demand in many locations across the country, but finding the right place to build one can sometimes be tricky. In many market areas, rather than constructing a new facility, converting an existing building for self-storage is a great alternative. For example, an underutilized warehouse building may make a lot of sense for …

Outsourcing Self-Storage Management

Outsourcing Self Management: Finding Your Comfort Level for Optimal Success The operating systems, marketing campaigns, sales programs and performance reporting come pre-installed. Outsourcing Self-Storage Management: Finding Your Comfort Level for Optimal Success – Inside Self-Storage

Multi-Story Case Study: Tri-Village Self Storage in Columbus, OH

As self-storage continues to permeate infill markets, many developers are designing multi-story properties to take advantage of small building footprints. Multi-Story Case Study: Tri-Village Self Storage in Columbus, OH thumbnail courtesy of insideselfstorage.com.

Public Storage leads self-storage names lower following Irma – Seeking Alpha

Finance News Daily Public Storage leads self-storage names lower following Irma All of Public Storage’s (PSA -2.5%) Florida properties (284), and nine in So. Carolina and Georgia are temporarily closed while Irma blows through. The impact to them from the storm is not yet known. Public Storage leads self-storage names lower following Irma – Seeking Alpha thumbnail courtesy of seekingalpha.com

Shipping containers re-purposed for self-storage

GreenSpace Holdings, a Houston-based self-storage developer, has launched its first project using recycled shipping containers to save money and help the environment. The company has broken ground on a 1,017-unit facility to be operated by CubeSmart at 2515 Westminister Road in Pearland. Site work is just getting underway on a two-acre parcel in a growing area with new shopping centers …