December 8, 2010 11:55 AM
MiniCo Insurance Agency, LLC, which publishes the leading trade magazine Mini-Storage Messenger, makes recognizing leaders in the storage industry a significant part of its undertakings. The company just released the winners of the 2010 Self Storage Facility of the Year awards, as well as announced the “2011 Self-Storage Almanac” survey drawing winner. [More]
December 30, 2009 7:32 AM
The Wall Street Journal this morning predicted a much more stable real estate market for 2010 than the wild ride the market took investors for in 2009.... the WSJ reports that the Dow Jones Equity All REIT (Real Estate Investment Trust) Total Return Index is up 31% this year, which means that it has improved over its 2008 performance, when it was down 38%. In 2009, the real estate market showed its strongest performance since 2006. It even outdid the Standard & Poor's 500-stock index, which posted a 25% return. "It's been very much a roller coaster ride this year," noted Goldfarb. "And we're about to end this year on a high note."
....Lucas told the WSJ that he expected self-storage to be one of three types of REITS that will outperform the rest of the market (the other two are industrial and student-housing REITs). Self-storage can be expected to do well because it does not depend on the creation of new jobs. The recession has been less damaging to the self-storage industry, in general, than it has been for other real estate businesses. According to Inside Self Storage, this is partly because self-storage owners use 30-day leases, and therefore have the flexibility to change their rates immediately in response to changes in the market and to changes in demand. ISS also attributes the stability of self-storage companies to the fact that self-storage business owners, unlike the REITs Kirby refers to, tend not to over-leverage their businesses -- they are more likely to keep their leverage within responsible limits. As a result, they are less vulnerable to sudden shifts in the market.... [More]
December 16, 2009 2:36 AM
Inside Self-Storage has announced that its 2010 World Expo will be held March 1-3, in Las Vegas, at the Paris Hotel and Resort. The Inside Self-Storage Expo is the self-storage industry's largest convention and trade show. It provides a four-track education program and development seminars, and gives self-storage owners, entrepreneurs, investors, developers, and suppliers a chance to meet each other and network. It will also include product and service exhibits. All in all, the 2010 ISS Expo will provide 36 seminars, four workshops, two days of product and service exhibits, five networking events, and a Self-Storage Q&A roundtable discussion. A new feature this year will be the Technology Marketplace, where Expo exhibitors can show off the newest security, software, and other technology-related products.
One of the most popular seminars at the Inside Self-Storage Expo every year is the intensive, six-hour Developers Seminar. This year, the Developers Seminar will be hosted by RK Kliebenstein, the president of Coast-to-Coast Storage, and will take place on March 3, from noon until 6 p.m. Kliebenstein will provide potential investors with tools and information they need to evaluate whether self-storage is a good business fit for them, explaining the how to develop a self-storage site, how to find financing for a self-storage venture, and focusing on how the economic recession has affected the self-storage business. Kliebenstein's workshop will also be helpful for small self-storage facility owners who are looking for ideas to help them expand their businesses. [More]
December 14, 2009 4:27 PM
Gray and Klotzbach predict a doozy of a season for 2010, with as many as 16 tropical storms and six to eight hurricanes. It is possible, they say, that five of those hurricanes could be major. A major hurricane is one with sustained winds of more than 111 miles per hour. The likelihood that these hurricanes will make landfall, too, is higher than usual....
Residents of South Florida and the Gulf coast, however, may prefer to follow the maxim that it is better to be safe than sorry, and secure any property that they feel strongly that they could not afford to lose, or stand to lose, in a hurricane. One way to prepare for a hurricane is to put property that is valuable or has sentimental value into self-storage. Self-storage units are well-constructed for withstanding hurricanes, as many of them are made out of reinforced concrete. Many self-storage facilities in hurricane-prone areas make special preparations for tropical storms and hurricanes, including having backup generators on site, hurricane impact windows, and covered loading docks. If you are especially concerned, find out whether the self-storage facility that you are considering has made preparations for hurricanes, and whether or not it has withstood other hurricanes in the past. [More]