May 3, 2012 2:00 PM
If you aree an investor interested in purchasing self storage facilities, you would have a difficult time finding those that are for sale. You'd have to read lots of newspaper real estate listing or go to lots of real estate websites to see what was available. But now, there is a clearing house for listings of places for sale - all in one convenient location. It's like a one-stop-shop where you can see facilities that are available in your local neighborhood or all across the United States. [More]
December 10, 2009 12:31 PM
One of the earliest indicators that the economy is beginning to improve may be that foreclosed upon self-storage businesses are beginning to sell – and to sell quickly. Early in December, Bancap Self Storage Group brokered the sale of Global Self Storage, located in Victorville in San Bernardino County, California, for $4.5 million.
Global Self Storage had been foreclosed upon early in 2009. It contains 600 self-storage units, which make up nearly 87,000 net square feet of space. The facility is located on nearly 7.5 acres of land and also includes 150 exterior RV and boat storage spaces.
“This is a classic example of a first class property that just opened up for business at the wrong time,” said Dean Keller, Bancap’s president, who brokered the deal. “The effects of the economic downturn and the temporary overbuilding in these areas have really hurt owners in outlying markets like this.” [More]