5 Key Performance Indicators That Enhance Self-Storage Facility Value

In the self-storage industry, some owners invest for the long term while others have a much shorter exit strategy. There’s no one-size-fits-all formula to success; however, there are some principles all owners can follow to generate strong yields and, therefore, higher facility values. To keep your business financially sound, pay attention to the following key performance indicators. I’m starting with …

SWIB buys 20% stake in self-storage portfolio for $170m

State of Wisconsin Investment Board (SWIB) has bought a 20% stake in a US self-storage portfolio via a Heitman managed co-investment vehicle. The pension fund said in a board meeting document that it invested $150M as part of a total of $520M in real estate commitments made during the third quarter of the year with Heitman Storage Partners Co-Investment. SWIB told …

What’s Your Self-Storage Marketing ROI?

Whether your self-storage facility is mature or newly constructed, knowing the source of your customer leads is crucial to the business. Tracking your marketing results not only provides intel on your tenant base, it can identify which initiatives are effective and those that aren’t. Understanding this data can yield better decisions going forward. Though many marketing initiatives may be implemented …

Self-Storage Software Provider SiteLink Integrates With OpenTech

Self-storage technology firms SiteLink and OpenTech Alliance Inc. have arranged an integration between two of their products to facilitate automated gate access. Sitelink’s cloud-based facility-management software now integrates with the API (application program interface) for OpenTech’s INSOMNIAC CIA (centralized intelligent access solution). The goal is to eliminate any issues that might occur at the entrance gate when a facility’s computer …

What Every Real Estate Investor Should Know About Cost Segregation

Cost segregation studies, or cost segs, have been a widely used accounting tool by real estate investors as a way to preserve capital and realize significant tax benefits through accelerated depreciation, asset reclassifications and easier write-downs when assets are disposed of. However, with tax reform, many investors are asking whether or not cost segs will continue to benefit them. “The …

Making the Most of Your Investments

You work hard for your money, so you understandably want your money to work hard for you in return. Investing your money thoughtfully can help you to expand your portfolio and net worth tremendously over the years. However, many investors do not maximize their investments for superior gains because of various oversights or mistakes. If you are looking for a …

Global Self Storage Reports Second Quarter and Six-Month 2018 Results

“Q2 marked a pivotal moment in Global Self Storage’s history, as we achieved full dividend coverage from FFO and AFFO for both the second quarter and first six months of 2018,” said President and Chief Executive Officer of the Company, Mark C. Winmill. “This milestone result was largely driven by continued strong topline growth coupled with our success in keeping …

3 Ways to Overcome Self-Storage Zoning Challenges

Trends in zoning regulations and political attitudes toward self-storage seem to be shifting. Historically, many cities forced storage into industrial areas. Over the last several years, however, there’s been a more relaxed approach, allowing projects onto commercially zoned property. Now, a growing desire for more pedestrian-oriented developments in those areas may be incompatible with the self-storage use. In addition, recent …

National Storage Affiliates gears up for even more acquisitions

In September, self-storage REIT National Storage Affiliates Trust expects to complete its $1.325 billion purchase (with joint venture partner Heitman LLC) of 112 Simply Self Storage facilities. Yet closing that deal won’t mean the end of near-term acquisition activity for National Storage Affiliates — not by a long shot. In a Aug. 7 call with Wall Street analysts to discuss …

Self-Storage Developers Cut Rents to Compete

Developers are opening new self-storage properties in markets across the country, offering low rates to attract customers and pushing down average rents. “Heavy new supply deliveries and slowing economic fundamentals are adding headwinds to street rates,” according to the “National Self Storage Report” for July 2018 from Yardi Matrix. The number of new properties opening is expected to peak later …

7 Story CubeSmart Self Storage Facility Planned for Uptown Charlotte NC

East 7th St LLC, a company affiliated with real estate developer Proffitt Dixon Partners, intends to build a seven-story self-storage facility in the Uptown area of Charlotte, N.C. The climate-controlled structure will be built on a 1-acre site at 969 E. 7th St., and comprise 90,725 net rentable square feet in more than 1,080 units. The project will also include …

First Neck Self Storage Group Raises $50M for Property Acquisitions

First Neck Self-Storage Group LLC, a joint venture between asset-management and investment-advisory firm CSM Capital Corp. and real estate investment and management company Self-Storage Capital Partners (SSCP), has raised $50 million with the intent to acquire storage properties in primary and secondary markets. The funding round will be used to buy up to $160 million in assets, according to the …