IRE Announces the Sale of Parkway Storage in Wilkes-Barre, PA

IRE Announces the Sale of Parkway Storage in Wilkes-Barre, PA

PRESS RELEASE: York, PA – July 20, 2017 – Sale of Parkway Storage in Wilkes-Barre, PA Investment Real Estate, LLC announces the sale of Parkway Storage for $1,360,000 to Self Storage Station, owned and operated by a local investment group. Parkway Storage is located in Luzerne County on Sans Souci Parkway, Wilkes-Barre, PA. The property consists of...

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Preparing to Buy a Self Storage Facility

Preparing to Buy a Self Storage Facility

Preparing to Buy a Self Storage Facility Making the Right Investment Strategy Are you preparing to buy a self storage facility? In the last few years, self storage has become an increasingly popular investment, in great part because returns over the last 15 years averaged 15.43% per year. Compared to some investments, self storage also […]

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IRE Announces Sale of Chestnut Mill Storage in Souderton, PA

IRE Announces Sale of Chestnut Mill Storage in Souderton, PA

PRESS RELEASE: York, PA – March 23, 2017 – Sale of Chestnut Mill Storage in Souderton, PA Investment Real Estate, LLC announces the sale of the Chestnut Mill Storage for $1,350,000 to a private investor. Chestnut Mill Storage is located in Souderton, PA in Montgomery County. Chestnut Mill Storage consists of one building which was converted to self...

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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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IRE Announces Sale of CNS Self Storage in Egg Harbor, NJ

IRE Announces Sale of CNS Self Storage in Egg Harbor, NJ

PRESS RELEASE: York, PA – November 11, 2016 – Sale of CNS Self Storage in Egg Harbor, NJ Investment Real Estate, LLC announces the sale of CNS Self Storage for $2,125,000 to a private investor. CNS Self Storage is located in Egg Harbor, NJ in Atlantic County. CNS Self Storage is comprised of six single story buildings with […]

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IRE Announces Sale of Storage Concepts in Middletown, NY

IRE Announces Sale of Storage Concepts in Middletown, NY

PRESS RELEASE: York, PA – September 29, 2016 – Sale of Storage Concepts in Middletown, NY Investment Real Estate, LLC announces the sale of Storage Concepts for $5,345,000 to a private investment group. Storage Concepts is located in Middletown, NY in Orange County, and was sold as part of a three property portfolio. Storage Concepts consists of fi...

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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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Why Are Self Storage Cap Rates Used To Value Properties?

Why Are Self Storage Cap Rates Used To Value Properties?

In our previous blog on Cap Rates, we provided the definition of a Cap Rate and explained how Cap Rates are used to determine the value of a self storage facility. We would like to continue this topic by helping readers understand why we use self storage Cap Rates to identify property values. First, self […]

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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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$20 Million Central PA Portfolio Sale

$20 Million Central PA Portfolio Sale

The Storage Depot, a 5 property portfolio of Class A stores, was recently sold to a regional self storage owner and operator. Each of the 5 stores are located in and around Harrisburg, Pennsylvania, the state capitol. The seller proudly developed some of the first self-storage properties in the area. Each Class A facility enjoys […]

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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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Our Latest Closings in Virginia and Maryland

Our Latest Closings in Virginia and Maryland

We are very excited about our latest closings in Virginia and Maryland. Americana Self Storage in Chantilly, Virginia closed recently. The facility had an impressive three two-story buildings plus a rental office. The facility has 72,000 rentable square feet, with a total of 862 units as well as RV parking spaces. The facility has enjoyed […...

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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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REITs Releasing Quarterly Results

It’s that time again, another quarter has flown by and the REITs, or Real Estate Investment Trusts, are getting ready to post their earning statements for the fiscal quarter and we are pretty excited to hear what they have to say. If you haven’t already, check out their calls: CubeSmart. CubeSmart will release its quarterly […]

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Follow-Up from Las Vegas – ISS World Expo

Last month we attended the Inside Self Storage World Expo in Vegas. This show is the biggest self storage industry show of the year. It drew hundreds of self-storage owners, operators, investors, builders and vendors from around the country — and from around the world. The event provided self storage exhibits, education, workshops and more [...

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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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Noteworthy

There is a lot of self storage buzz out there. Companies are reporting their quarterly earnings, making some big changes and a lot is happening in the industry and beyond. One of our jobs is to keep track of everything having to do with self storage brokerage and real estate in general. Here is what […]

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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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Is the Time Now?

We get asked a lot, “How are things really going in the self storage brokerage industry?” To answer this question and more click here to check out this great article Market Update for Northeast & Mid Atlantic Markets written by John Barry. Here is a short excerpt. “Well, real estate is always good, as far […]

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