March 25, 2010 6:16 PM
Extra Space Storage of South Brunswick, New Jersey, announced that several members of the New York Jets Flight Crew (the cheerleading squad for the New York Jets) will be in attendance at its grand opening celebration. The grand opening will be held at the new South Brunswick Extra Space location, 3780 Route 1, Monmouth Junction, New Jersey, between 11 a.m. and 3 p.m. on Saturday, March 27.
Festivities on the 27th will begin with a ceremonial ribbon cutting by Monmouth Junction mayor Frank Gambatese. After that, three members of the New York Jets Flight Crew will be available to sign autographs and have their photos taken with Extra Space guests for the next two hours. The event will also include refreshments, games and prizes, tours of the new storage facility, and special promotions for everyone in attendance. Anyone who would like to come is invited. [More]
March 17, 2010 10:47 AM
Extra Space Storage and Thanks Again announced today that they have begun a partnership that will allow self-storage tenants to earn airline mileage and other rewards when they reserve a self-storage unit. To earn the mileage or other rewards, a consumer will first have to become a member of Thanks Again, a company that allows consumers to register their credit cards in order to earn rewards when they purchase goods or services at designated merchants (such as Extra Space). Consumers can also register credit cards that already participate in a rewards program, such as United Mileage Plus or Delta Skymiles, and earn rewards both with their credit card's own program and with Thanks Again.
When Thanks Again members place a reservation for a storage unit with Extra Space, they will receive 500 bonus airline miles, or $10 cash back, if they place the reservation using a credit card that is registered with Thanks Again. In addition, new members who have never enrolled with Thanks Again before are eligible to receive an extra 250 bonus miles after the first Thanks Again transaction (through the end of this month). [More]
February 22, 2010 3:20 PM
Extra Space Storage released its 4th quarter and year-end results today. Compared to other self-storage REITs, Extra Space did fairly well in 2009, industry analysts observed. Reporting just before the release of the 4th quarter report, Learning Markets, a resource for investors who are just beginning to learn about investing, used Extra Space's performance as an example of a company that is leading the way in its industry, noting that Extra Space stock has gone up 8.25 percent in the last quarter, while the REIT industry has gained only about 1.39 percent in the same period.
Highlights from Extra Space's fourth quarter and year-end report were as follows: [More]
February 18, 2010 10:57 AM
This Monday, Women Investing in Nashville, a Nashville group of women who invest in real estate, will host a speaker focusing on investment opportunities in the self-storage industry. The speaker will be Anne Williams, past president and co-founder of the Tennessee Self-Storage Association. Women Investing in Nashville chose to invite Williams to speak because many of its members are interested in investing in commercial real estate. Williams' topic will be, "Self Storage as an Investment Strategy."
Williams has been working in self-storage for ten years. She began working in the industry as a district manager for Extra Space Storage and currently is a self-storage investment broker for Marcus & Millichap. Williams co-founded the Tennessee Self-Storage Association, served as its vice president in 2008, its president in 2009, and now serves as its treasurer. [More]
February 16, 2010 2:44 PM
Omniture, a leading producer of business marketing software, announced yesterday that it is making its online business optimization software compatible with native iPhone applications. Online business optimization uses the strategy of collecting data from customers as they interact with websites, and using that data to drive the growth and direction of the business, and uses Internet marketing to try to build customer loyalty. Omniture's Test&Target software is widely used within the self-storage industry. Extra Space announced last May that it had increased its online incremental revenue by 26 percent, and its online reservations by 13 percent, using Test&Target.
Now that Test&Target is compatible with iPhone applications, its standard optimization functionality, including A/B and multivariate testing, dynamic content targeting, and audience segmentation, can be used to customize iPhone applications and improve their effectiveness. Data can be collected from customers whether they connect to a website via a computer or through an iPhone. Developers and marketers can now remotely modify the content and user experience of their iPhone applications in real-time. Content modification can be done right from the Test&Target online console. Omniture suggests that businesses use the Test&Target software with the iPhone to test and fine-tune registration and lead generation forms, to optimize ecommerce checkout flows, and to dynamically target content to specialized audience segments selected based on their likes and dislikes, and using their prior application activity to increase the relevance of content that is provided to them. [More]
January 28, 2010 1:10 PM
Extra Space Storage announced yesterday that it has closed a joint venture with a Harrison Street Real Estate Capital (HSRE) affiliate. HSRE and Extra Space each received a 50 percent interest in the joint venture, to which HSRE had contributed about $15.8 million in cash, while Extra Space contributed 19 wholly-owned properties in California, Florida, Nevada, Ohio, Pennsylvania, Tennessee, Texas, and Virginia. The properties secured about $101 million in debt, which was assumed by the joint venture. Extra Space will continue to operate the 19 properties.
"There's a couple of reasons behind it: to generate a little bit of cash, to offload a little bit of debt into the joint venture," Extra Space's vice president of marketing and corporate communication, James Overturf, explained to the Salt Lake Tribune today. "It de-leverages us a little bit....But more than anything, it establishes a relationship with a really good joint venture partner." [More]
January 8, 2010 5:04 PM
Yesterday, CEOWorld Magazine listed Extra Space Storage as one of its "Top Best Dividend Stocks to Own in 2010." Extra Space is in good company on CEOWorld's list -- the other stocks on the list include market giants Altria Group (the parent company of Philip Morris), Best Buy, Colgate-Palmolive, Harsco (formerly the Harrisburg Steel Corporation), Intel, Sysco, and Visa.
Explaining CEOWorld's choice of Extra Space for the list, writer Amarendra Bhushan says that Extra Space is the second largest self-storage operator in the United States and that it "is a growth-oriented company creating a new standard in the self-storage industry. Both customers and communities benefit from Extra Space Storage's professional approach to storage." She goes on, "Featuring attractive, convenient and secure facilities operated by professional managers, Extra Space Storage seeks to change the association of self storage as a temporary holding place for rarely-used things to a desirable, safe, and customer-oriented facility perfectly suited for maintaining and accessing valued personal and business possessions." [More]