Ziff Properties Converts Lexington, KY, Warehouse to Self-Storage

Real estate developer Ziff Properties Inc. has acquired the former Golden Burley Tobacco Warehouse in downtown Lexington, Ky., which it intends to convert to self-storage. The 3.5-acre property at 574 Angliana Ave. is just over a mile from the University of Kentucky, according to a press release. Once the renovation is complete, the facility will comprise 103,500 square feet of …

Global Self Storage Inc (SELF) Shares Sold by Financial & Investment Management Group Ltd.

Financial & Investment Management Group Ltd. decreased its stake in Global Self Storage Inc (NASDAQ:SELF) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 369,452 shares of the financial services provider’s stock after selling 88,912 shares during the quarter. Financial & Investment Management Group Ltd. owned …

CRE Investors Step Back from Hotel Acquisitions

It’s hard to imagine how things can get much better for the U.S. hotel sector, and that can make it surprisingly difficult for investors to find acquisition deals that make sense. “Right now, we are in the strongest occupancy environment ever recorded,” says Jan D. Freitag, senior vice president of lodging insights for research firm STR, based in Hendersonville, Tenn. …

Co-Working Not a Huge Challenge to Office REITs

To be sure, WeWork—the giant of the nascent co-working sector—is gobbling up office space at a rapid clip around the country. Recent data from research firm CoStar Portfolio Strategy LLC shows WeWork has claimed more than 12.5 million sq. ft. across the U.S., with the New York City market representing 37 percent of its nationwide footprint. An example of WeWork’s …

Lowe’s to shut 51 underperforming stores in the US and Canada

Home improvement chain Lowe’s announced the closure of another 51 underperforming stores in the United States and Canada on Monday as it strives to compete with rival Home Depot in a slowing housing market. Lowe’s gave no detail of job losses in the move, which closes stores in some upmarket areas including Broadway and Chelsea in Manhattan and follows the …

Using SEO Strategy to Improve Online Visibility for Your Self-Storage

Consumers who are searching for self-storage online aren’t doing research months in advance. In fact, data indicates that 45 percent of prospective renters haven’t begun looking for a place to store their belongings even a month before they move. On moving day, 11 percent still haven’t leased a unit! This means facility operators need to implement sound search engine optimization …

Millennials and Boomers Are Changing the Real Estate Market

When Bobby West, a real estate agent with Coldwell Banker Real Estate Services, recently held open houses in Pittsburgh, he noticed a trend: both millennials and baby boomers flocked to the properties, attracted by the square footage and price. While he found that millennials searched for a home to turn into a family nest, baby boomers looked for a place …

Financial & Investment Management Group Ltd. Has $1.55 Million Stake in Global Self Storage Inc (SELF)

Financial & Investment Management Group Ltd. trimmed its holdings in shares of Global Self Storage Inc (NASDAQ:SELF) by 19.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 369,452 shares of the financial services provider’s stock after selling 88,912 shares during the quarter. Financial & Investment Management Group Ltd. …

What It Takes to Be Successful With a Self-Storage Conversion Project

One of the challenges of developing a new self-storage facility is finding the right location. Ideally, the business should be highly visible, located on a busy road close to potential clients. A great price and regular parcel shape are helpful, and proper zoning is critical. In many markets, though, you’ll find the only available land is at the edge of …

Self Storage Investment

Self-storage has been among the most steadily growing U.S. industries for more than 40 years, and its expansion is predicted to continue through the remainder of this decade. Like other business investments, a storage facility can provide an income stream, employment independence, equity and appreciation, and tax benefits. However, before you embark on buying or building a property, it’s important …

Self Storage: The Pendulum Swings

The self-storage industry has experienced tremendous growth over the past decades and the business continues to expand. New supply pipeline reached a new peak in September. Nationally, planned and under construction projects account for 9.3 percent of total inventory, according to the latest Yardi Matrix self-storage report. Although the industry seems to be going strong, Principal Bill Bellomy of Bellomy …