In today’s competitive self-storage market, customers won’t automatically come to your facility—where you choose to build is key. Here’s an overview of the site-selection process and how it impacts project viability.
Australia-Based Peer-to-Peer Self-Storage Operator Spacer Buys Out Roost
Spacer.com.au Pty. Ltd., an Australia-based peer-to-peer self-storage marketplace, has acquired U.S.-based Roost Shared Storage Inc. and will rebrand the business as Spacer.com. The deal includes Roost’s customers, database and technology platfor…
Inventor Stashes Creative Contraptions in Extra Space Self-Storage Unit
After moving back home with Mom and Dad, where should an inventor keep his prized creations? Self-storage, of course. In this short commercial from real estate investment trust Extra Space Storage, the comical entrepreneur enthusiastically demonstrates…
Live Oak Bank Launches Express-Loan Product for Self-Storage
Wilmington, N.C.-based Live Oak Bank has launched an express-loan product designed for self-storage developers as well as industry owners who wish to upgrade their facilities. Loans from $75,000 to $350,000 are available for working capital, facility e…
Self-Storage Directory Find Local Storage Hires New Executive Director
Find Local Storage (FLS), a consortium of self-storage owners who operate an online facility directory, has hired Michelle Jordan as executive director. She’ll be responsible for driving business expansion and new-product development, as well as …
Public Storage Acquires A2Z Self Storage in Orchard Park, NY
Public Storage Inc., a self-storage real estate investment trust (REIT), has purchased A2Z Self Storage in Orchard Park, N.Y., for $4 million. The REIT now has eight storage sites in the region.
Council Denies Mixed-Use Self-Storage Project in Troy, MI
Update 5/19/17 – The Troy City Council denied the rezoning request from E-Z Mini Storage on May 8 with a 5-2 vote. More than 20 residents spoke in opposition to the proposal, reiterating earlier concerns that the mixed-use self-storage project di…
Gate City, VA, to Get Mixed-Use Project Containing Self-Storage, Country Store, Deli
The Scott County Board of Supervisors unanimously approved a zoning permit for a mixed-use project in Gate City, Va., last week that will include self-storage as well as a country store with a deli. The parcel at the intersection of Warm Springs and Yu…
Dryden and Lansing, NY, See Burst of Self-Storage Development
The communities of Dryden and Lansing, N.Y., have seen an uptick in self-storage development due to local demand for climate-controlled units and a reduction in available building space in nearby Ithaca, N.Y. There are at least five projects comprising…
Jernigan Capital Co-Invests $61.7M in 5 Southeast Self-Storage Projects
Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, has invested $61.7 million in five multi-story development projects in Florida, Georgia, Louisiana and Texas. All the projects are in the proposal stage. Togeth…