April 4, 2011 12:14 PM
Self storage has caught the eye of commercial real estate investors with its impressive returns for 2010 and anticipated continued success for 2011. Publicly-traded self storage real estate investment trusts (REITs) yielded total returns of about 30 percent in 2010, faring better than the broader REIT sector and more than doubling the average total return for companies traded on the Dow Jones Industrial Average. [More]
December 30, 2010 8:36 AM
Overall, during the past few years the self storage market has proven to be recession-resilient and this has led to many acquisitions for investment. There is a bubble of safety around the storage business because of a constant growing demand. Just this week in a major purchase, Virtus, an Austin, Texas, based real estate private equity firm has purchased 20 self storage facilities throughout the southeastern U.S., totaling 1,000,000 sq. ft. of space at a cost of $50 million. [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]