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The Conversion Process: How Yesterday’s Grocery Store Becomes Today’s Self-Storage Facility
One of the most beneficial routes to self-storage ownership is through building conversion. This article discusses the benefits and challenges of the process, looking at structure, location, costs, legalities, functionality, design and more.
Self-Storage Operator Bee Safe Storage of North Carolina Plans Southeast Expansion
Bee Safe Storage and Wine Cellar, a Greensboro, N.C.-based self-storage operator with two locations, is planning to develop another 18 facilities throughout North Carolina and parts of the Southeast. The success of the company’s first two facilit…
Self-Storage Operator Bee Safe Storage of North Carolina Slows Southeast Expansion
Update 9/27/17 – Bee Safe Storage has decided to scale back its self-storage development in the Southeast due to oversupply in some markets. The pivot includes pulling the plug on a 4-acre project at the corner of Tarrant Road and Wendover Avenue…
Global Self Storage to Present at 28th Annual ROTH Conference
Real estate investment trust (REIT) Global Self Storage Inc. will discuss the company’s 2015 financial performance during the ROTH Conference, March 14-16, at The Ritz Carlton in Dana Point, Calif. The conference focuses on business-development o…
Self-Storage REIT National Storage Affiliates Trust Releases 4Q 2015 Financial Results
National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has released its financial statement for the quarter and year that ended Dec. 31, 2015, showing gains in key areas including core fun…
Morningstar Mini-Storage to Convert Former Industrial Building to Self-Storage in Charlotte, NC
Morningstar Properties LLC, which operates self-storage facilities under the Morningstar Mini-Storage brand, is converting an industrial building in Charlotte, N.C., to self-storage. The property at 928 N. College St. is near Interstate 277. The three-…
Young Group Self-Storage Development on Sterling, VA, Church Property Causes Controversy
Update 7/27/16 – Controversy regarding the fate of a 100-year-old church on the site of a self-storage development by The Young Group has continued, resulting in the cancellation of plans to preserve the building’s façade and move it…
Understanding Capitalization Rates in Self-Storage Real Estate Transactions
You can’t have a discussion about buying, selling or refinancing a self-storage property without the term “cap rate” coming into the conversation. This article provides insight and clarification on what a capitalization rate is and ho…
Fort Smith, AR, Officials Approve Self-Storage Zoning Request Despite Public Opposition
Update 3/16/16 – The Fort Smith Board of Directors this week approved the rezoning of the 15-acre property on which the Goodson family intends to convert an existing industrial building to self-storage. The 5-2 vote came despite continued opposit…