Why SBA Loans Are Beneficial For The Self Storage Industry

Why SBA Loans Are Beneficial For The Self Storage Industry

Submitted to Investment Real Estate by Terry Campbell, Live Oak Bank After years of pent-up demand from no building, the self storage industry has seen significant growth in the last couple of years. If you’re a current self storage owner or looking to break into the industry, an SBA 7(a) loan may be just what you […]

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Preparing to Place Your Self Storage Business for Sale

Preparing to Place Your Self Storage Business for Sale

“Buy low, sell high.” It’s a maxim that we are all familiar with, but fail to apply. The real estate market typically follows predictable cycles every 7-10 years. Property values reach an all time high, hold steady for a short time, then the market levels off and eventually crashes. Understanding the various stages of this […]

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Introduction to Revenue Management

Introduction to Revenue Management

What is revenue management? Simply put, it means thinking about how to maximize rental rates while maintaining high occupancy levels. Many facilities have a tenant who’s been there for the last 15 years, and is paying significantly less than street rates (what a new tenant would pay, based on your current prices). You don’t want […]

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IREC Completes Expansion at Moove In Self Storage in Quarryville, PA

IREC Completes Expansion at Moove In Self Storage in Quarryville, PA

PRESS RELEASE: York, PA – October 20, 2016 – IREC Completes Expansion at Moove In Self Storage in Quarryville, PA Investment Real Estate Construction, LLC (IREC) announces the completion of the final phase at Moove In Self Storage in Quarryville, PA. Moove In Self Storage is located in Lancaster County, PA, on Lancaster Pike (Route 272) in [...

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Most Important Things to Consider Before Hiring a General Contractor to Build Your Storage Facility

Most Important Things to Consider Before Hiring a General Contractor to Build Your Storage Facility

Congratulations! You’ve completed feasibility studies for your new self storage development, and decided on how to fund it. After poring over trade magazines to decide on the right building design, layout and colors, you’ve reached the point where you’re ready to find the general contractor (GC) who’s going to build your storage facility. If this [...

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Interested in Expanding or Developing a Site? Part 2: Financing a Self Storage Project

Interested in Expanding or Developing a Site? Part 2: Financing a Self Storage Project

Interested in Expanding or Developing a Site? Part 2: Financing a Self Storage Project In Part 1, we talked about the first step you should take when considering expanding or developing a site – the Feasibility Study. In Part 2, we will go over what you need to know about financing a self storage project and finding the right […]

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Interested in Expanding or Developing a Site? Part 1: Self Storage Feasibility Study

Interested in Expanding or Developing a Site? Part 1: Self Storage Feasibility Study

Interested in Expanding or Developing a Site? Part 1: Self Storage Feasibility Study One of the biggest concerns we hear about from self storage facility owners is a competitor breaking ground in their market. It’s easy to panic when you’ve toughed out the last five years and another facility has opened – soon they’ll be […]

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Reflections on the 2013 Inside Self Storage World Expo

The ISS World Expo was the place to be earlier this month, as self storage owners from around the globe met in Las Vegas to be inspired by best business practices for this incredible industry. To kick off the event, the president of Human Capital Solutions, Sherri Elliott-Yeary led an informative opening session on how […]

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Philly Welcomes the Self Storage Association in 2013!

Have you heard? The Self-Storage Association is hosting the Spring Conference and Trade Show in Philadelphia from April 22-24, at the Marriott Downtown. This is the only national self storage conference on the east coast this year, and the place to be for anyone in the industry. From education from the experts to networking with […]

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Self Storage REITs: Highlights for 4th Quarter 2012 and Full Year Results

Here is a summary of the Self Storage REITs Highlights for the 4th quarter as well as 2012 full year results: Public Storage (PSA) Same Store Results Revenue increased 4.9%, expenses decreased 1.7% and NOI increased 7.9%. SF occupancy was 91.8% vs. 90.2%. Average rent per SF was $12.59. Investment Activity Acquired 10 stores for […]

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Focus on the REIT’s Part IV: Sovran Self Storage

Focus on the REIT’s Part IV: Sovran Self Storage

Our fourth and final focus on the REITs series brings us to Sovran Self Storage, Inc. Sovran Self Storage, Inc. was founded in 1982. Their headquarters are in Buffalo, New York. Sovran is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that acquires and manages self storage properties. Sovran owns and/or o...

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Focus on the REITs Part II: CubeSmart

Focus on the REITs Part II: CubeSmart

Our next REIT focus is CubeSmart. Here is a little history about them. CubeSmart is a “self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self-storage facilities in the United States.” Their top priorities are to offer reasonably priced, easily available and safe storage space...

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CubeSmart Self Storage – Q3 Earnings Report

We are continuing to look at the REITs quarter 3 earnings reports. Our next focus is CubeSmart. CubeSmart owns and/or manages 518 self-storage facilities across the U.S. They also operate the CubeSmart Network, which consists of approximately 825 additional self-storage facilities. CubeSmart released its earnings in a call Nov.8th. Here is our summ...

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Extra Space Storage – Q3 Earnings Report

Extra Space Storage – Q3 Earnings Report

Extra Space released its quarterly earnings on Oct. 29. The company hosted a conference call at 1 p.m. ET on Oct. 30 to discuss the results. The call was hosted by Spencer Kirk, CEO, Scott Stubbs, Executive Vice President and Chief Financial Officer, and Karl Haas, Executive Vice President and Chief Operations Officer. Third-quarter performance [...

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Sovran Self Storage – Q3 Earnings Report

Sovran Self Storage just released their quarterly results after the market closed on Oct. 31. The conference call discussed their financial results and overall operations. Here is a summary of what was discussed. Excluding acquisition and financing costs, FFO per share was $.88 vs $.72 in 2011. Stronger occupancy, lower operating costs and reduced...

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Another Great PASSA Show

We had the opportunity to attend the latest PASSA Self Storage Facility Owners Meeting & Luncheon that was held at the Sands Hotel in Bethlehem, PA on May 17th. The day included a talk by Investment Real Estate Vice President, John Barry. JB’s talk included insights on the current self-storage real estate climate, discussion on […]

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Optimism and Equilibrium

Optimism and Equilibrium

There is always a lot of talk about what the best types of investments are. There are arguments for apartments, offices, hotels, or self storage being the best. Self Storage has always been known to be a bit of a recession-resistant industry but last year’s self storage REITs results are outstanding. “This recession resistance can […]

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Self Storage Investment – Drivers Wanted

We read this great article on the Inc. website about what it takes to be an entrepreneur. We think this article is so interesting because it really addresses the common misconception that most entrepreneurs start out with money. The truth is, “Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled,” says HBS...

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