April 28, 2014 11:47 PM
With the economy performing well according to Wall Street you might think that the self storage industry may not be as needed as before. When it was failing people were forced to downsize and needed somewhere to store their belongings while they tried to get back on their feet. Now that the economy is back and growing will that still be the case? [More]
September 25, 2013 8:27 PM
When it comes to the business world—self storage or otherwise—it can be tough to figure out not just when to get in to business but when to get out as well. The decision could mean the difference between needing millions or hundreds of thousands to get started. It could also mean the difference between making millions or just thousands when you get out. [More]
August 30, 2012 11:51 AM
Are you in the market to purchase a self storage facility? Two facilities? How about three of them? If you have a cool $25 million, then Marcus & Millichap has a deal for you. They represent Safeguard Self Storage, who has three properties up for sale. Safeguard is willing to sell the properties as a portfolio or as individual facilities. The selling price averages out to $111 per square foot. [More]
July 22, 2011 9:16 AM
Self storage has weathered the downturn in the economy surprisingly well and has gotten much attention from investors in the process. In fact, in the second half of 2011, self storage real estate is expected to see an increase in investor activity as banks sell off distressed assets throughout the Sun Belt, particularly in California and Florida, according to a new report from Marcus & Millichap. [More]
October 21, 2010 10:48 PM
Investors continue to take advantage of real estate investment opportunities in self storage as a way to escape otherwise risky commercial real estate markets, reports this week suggest. Self storage properties -- or land destined for self storage properties -- changed hands in Texas, Florida, and New York this week. [More]
April 1, 2010 4:31 PM
Several self storage real estate transactions have been in the news this week as the market for self storage facilities steadily improves.
Highway 79 Super Storage of Temecula, California, was sold this week for 93 percent of its asking price. The final sale, which was brokered by Marcus & Millichap, was for seven million dollars. The buyers and sellers were represented by Nick Walker and Michelle Watson, of Marcus & Millichap’s National Self Storage Group, and by Jake Steele and Andy Glinski, from its Special Assets Group. [More]
March 10, 2010 2:02 PM
U.S. commercial real estate investment firm Marcus & Millichap has now released its annual report on the self-storage industry for 2009 and its market updates for the first half of 2010. Overall, the report indicates that as the economy improves, a turnaround in self-storage property investments may be approaching, though it is impossible to say when.
The report also notes that self-storage facilities in urban areas are coping with the recession much more easily than facilities located in rural and suburban areas. Tenancies in self-storage units got longer in 2009 in response to unemployment and foreclosures -- renting a self-storage unit to hold their possessions is a common method used by many homeowners to cope with the experience of being foreclosed on. As a result, the national average self-storage unit rental period increased from 13.7 months in 2008 to 14.9 months in 2009. [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]