Marcus & Millichap Brokers Sale of Self-Storage Portfolio in Charlotte MSA

Michael-Mele-of-the-Mele-Storage-GroupCharlotte, N.C–Marcus & Millichap has arranged the sale of a three-property, 881-unit self-storage portfolio located in metro Charlotte, N.C.
Tampa-based Brian Baldwin, investment associate, Elliott, associate vice president of investments and Michael Mele, senior vice president of investments, all in part of The Mele Storage Group, had the exclusive listing to market the portfolio on behalf of the seller, a private investor. The group also secured the buyer, Volta Global, a private investment group active in venture capital, private equity, real estate and public markets.

“This is the 22nd transaction for our group year-to-date, and one that sheds light on the diversity of the buyer pool looking at the storage industry. The buyer in this case had never owned self storage and this portfolio marks their entrance into the space,” Elliott said.

The properties included in the portfolio are:

  • Highway 70 Self Storage, 344 units in Newton, N.C.
  • North Cannon Self Storage, 302 units in Kannapolis, N.C.
  • Shelby Self Storage, 235 units in Shelby, N.C.

All three facilities are located in Greater Charlotte, within a short distance from each other. With an estimated population of 2,500,000 residents, the Charlotte metro area is the most populous in North Carolina and the sixth largest MSA in the Southeast United States. By 2020, the metro is expected to have a 58.6 percent population growth from 2000.

“Getting interest in this opportunity not only from the usual storage buyers, but also outside of that mix and in this case Volta Global, highlights one of the benefits a seller can get from hiring The Mele Group of Marcus & Millichap, with access to new capital all across the county,” added Baldwin.

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BOS CONTAINER USA HELPS WASHINGTON STATE MINI STORAGE BUSINESS GROW

 

imageusePak Rat Mini Storage owner B.F. “Dutch” van Rijn was running out of units to rent at his North Bonneville, Washington, facility. He bought an adjacent parcel of land and was considering building more permanent units. Dutch analyzed his options, however, and decided to purchase BOS Quick Build containers from BOS Container USA, award-winning producer of portable steel storage containers.

“I was impressed by the quality of the units,” says Dutch, who had done his due diligence by travelling to San Francisco International Airport to see the BOS Containers being used there by United Airlines. “The unit fit and finish is very good, and they are sturdy, utilizing 20-gauge steel.”

In May 2016, Dutch’s order of BOS Containers arrived in North Bonneville, flat-packed in three sea containers. The units were ranging in sizes from 7×7, 10×7, 13×7, 20×7 to container combination 27×7. With container combination, it took a team of four people just 20 minutes to assemble the first BOS SCC 27-foot by 7-foot container combination, which is two 13-by-7 containers joined end-to-end using the BOS proprietary connection kit. Afterwards Dutch had them painted to match his Pak Rat Mini Storage branding.

Dutch says there were several factors that led him to choose portable BOS Containers, which are manufactured in Germany and made of galvanized, recycled steel:

  • BOS Containers have a high degree of adaptability, with multiple units able to connect together. “Future market size requirements might change, and the BOS units can change with it,” Dutch says.
  • Many portable units on the market don’t allow for adequate ventilation, which is important for long-term storage. While a sound, weather-tight unit is essential, the unit must also be able to breathe in order to avoid moisture-related issues — particularly in the Pacific Northwest, where variable weather conditions mean “air-tight” is not an option.
  • His site’s rocky soil was difficult to deal with, which meant permanent foundation work would have been more costly and time-consuming.
  • Portable units were also a tax consideration for Dutch, as “the units can be depreciated over a seven-year time span.”

Check out this video to see just how easy it was for Dutch to grow his business at Pak Rat Mini Storage with BOS Container USA.

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Moove In Self Storage Adds New Ultra-Premium Storage Units in Lancaster, PA

Capture222York, PA – June 16, 2016 Locally owned and operated Moove In Self Storage announces the completion of UltraPremium Storage Units at their location on Centerville Road in Lancaster, Pennsylvania. Lancaster is west of Philadelphia, PA and north of Baltimore, MD.

The project, which began in February and completed the first of May, is the first of its kind in the area and relatively new to the self storage industry overall. Moove In Self Storage added a number of ultra-premium storage units with sizes ranging from 5×5 through 10×15. These ultra-premium units are all temperature controlled and feature a fully carpeted floor including inside the unit, automatic unit doors with key coded access and separate video surveillance accessible 24/7 by the tenant.

These ultra-premium units have added benefits over traditional drive up and interior access storage units. They have separate entrances making them a private space away from the general traffic of the facility. The ultra-premium units also boast advanced temperature control which is set to very comfortable office-like temperatures, providing a luxury in the storage industry for customers to visit their storage unit and access items year-round. Their customers can also download a free app and view the live surveillance footage of this premium space at any time.

Moove In Self Storage on Centerville Road has also recently completed a 22,900 SF expansion, as well as major renovations at the satellite location on Prestige Lane in 2015. When asked about the new premium storage units at Moove In Self Storage, John H. Gilliland, President & CEO, says, “We are excited to be on the cutting edge of a new kind of offering in the industry. We think that some of the self storage clientele will want these extra features and are more than willing to pay for them. Time will tell.”

ABOUT MOOVE IN SELF STORAGE

Since our first facility opened in 1997, Moove In Self Storage has expanded to 17 facilities located throughout York, Lancaster and Huntingdon Counties in Pennsylvania, Baltimore County in Maryland and Sussex County in New Jersey. We offer drive up, interior access and temperature controlled self storage units in a variety of sizes as well as outdoor parking spaces with a full retail shop in every rental office. Moove In remains a locally owned and operated company guided by the core values of hard work, trustworthiness, exceptional customer service and providing the best product at a great value.

For more information, visit www.moovein.com. CONTACT To learn more, please contact: Jess Dubbs Director of Marketing 10 Bentzel Mill Road York, PA 17404 P: 717-779-0804 E: jdubbs@irellc.com

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BELLOMY & CO. ANNOUNCES THE SALE OF LOCKTITE STORAGE IN CEDAR PARK, TEXAS

AUSTIN – June 14, 2016 Bellomy & Co. announced the sale of LockTite Storage – Lakeline in Cedar Park, Texas. The Class “A” facility, renovated in 2013, consists of 351 climate and non-climate units in 56, 395 NRSF.

Cedar Park is a fast-growing community eighteen miles northwest of downtown Austin.
Bill Bellomy, Michael Johnson and John Arnold listed the facility on behalf of the Austin based seller. They also procured the buyer, Public Storage, a publically traded REIT (PSA), headquartered in Glendale, California. The company operates more than 2,200 self-storage facilities in the United States and Europe.

Bellomy & Co. is an Austin, Houston and Atlanta based commercial real estate firm with a team focused exclusively on the self-storage industry.

For more information, please call Bellomy & Co. at 512-501-1604 or email info@bellomyco.com. To learn more about Bellomy & Co., visit http://www.bellomyco.com.

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Bill Alter Closes Sale of Storage Max Self Storage

Bill Alter is pleased to announce the sale of Storage Max Self Storage located at 11900 W.N. 91st Ave., Peoria, Arizona. The sale closed on June 7, 2016 for $3,500,000, which represents approximately $52 per square foot and a cap rate of about 5.35%.  The property was constructed in 1986 and consisted of about 69,825 square feet and 527 storage units plus 105 outdoor parking spaces for boats and RV’s.  Occupancy at time of closing was about 50%. The seller in the transaction was an investor the San Francisco Bay area and the buyer was from Portland, Oregon. This was Bill Alter’s 151st self storage sale.

For more information contact Bill Alter at 602-315-0771 or Bill@RGcre.com.  You may also visit WWW.RGCRE/author/BillA

Rein & Grossoehme specializes in the sale of investment properties and commercial leasing.

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Bluetooth Padlocks at CubeSmart Self-Storage

@@Noke-Padlock-StorageAnyone in the self-storage industry long enough has experienced, or heard the details of, a panicked customer who has lost their key to the lock on their self-storage unit. Perhaps they gave the key to a family member or co-worker who lost it. Any number of things can happen to a padlock’s matching key. Keys are easy to lose, they can be stolen, they are a pain to share, and if you share them, you must get them back.

Recently a CubeSmart customer shared a unit with a friend who had traveled to Europe for the summer taking the key with her. Meanwhile, she needed access to the storage unit. Noke solves the problem of being able to share access to your possessions easily, safely, and securely.

Through Bluetooth technology, sharing access to a storage unit with a family member, friend, or coworker is easy using the iOS, Android or Windows Phone app. Instant access is granted without a physical key. You can program permanent, one-time, or custom settings for unlocking the Noke padlock. Giving your office manager access to your storage unit to pick up files for a court case or an audit is no problem.

Monitor storage access using Noke Smart Padlocks

Noke offers an added layer of security for businesses that may need to grant multiple people access to the storage unit. With Noke, you can grant access to someone on specific days and times, you can use the history function to track who is using your Noke and when. You can also set up push notifications in the app if you’d like to know when Noke is being opened.

Remember our friend who went to Europe for the summer and took the key to the storage unit with her? Instead of making a trip to the post office and ‘snail mailing’ it back to the States, imagine how easy it would have been to grant access to her friend from across the Atlantic Ocean.

Where can I buy a Noke Padlock?
Several CubeSmart locations carry Noke smart locks and offer a place to check out the features in person. Noke locks sell for $69.99, but these CubeSmart locations sell them for just $49.99.

California

CubeSmart Self Storage in Corona

3915 Green River Road
Corona, CA 92880

Connecticut

CubeSmart Self Storage in Shelton

829 Bridgeport Avenue
Shelton, CT 06484

Florida

CubeSmart Self Storage in Dania Beach

2010 Northeast 7th Avenue
Dania Beach, FL 33004

CubeSmart Self Storage in Jacksonville – Deerwood

8121 Point Meadows Drive
Jacksonville, FL 32256

Illinois

CubeSmart Self Storage in Chicago – Bucktown

2647 North Western Avenue
Chicago, IL 60647

Massachusetts

CubeSmart Self Storage in Boston – Chelsea

150 William F McClellan Highway
Boston, MA 02128

New York

CubeSmart Self Storage in The Bronx – Grand Concourse

255 Exterior Street
Bronx, NY 10451

Pennsylvania

CubeSmart Self Storage in Malvern

5 Old Lancaster Road
Malvern, PA 19355

Tennessee

CubeSmart Self Storage in Nashville – Oak Hill

4815 Trousdale Drive
Nashville, TN 37220

Texas

CubeSmart Self Storage in Fort Worth – Linwood

2721 White Settlement Road
Fort Worth, TX 76107

CubeSmart Self Storage in Houston – Spring Branch East

7825 Katy Freeway
Houston, TX 77024

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FOUR Property Self Storage Portfolio Sold by SVN

Connie Neville, SVN | C. M. Neville & Associates , Inc., Nick Malagisi, SVN | Commercial Realty, Hans Hardisty, SVN | Deegan- Collins Commercial Realty and Patrick Lemp, Valbridge Property Advisors| Italia & Lemp Inc. joined forces to sell a significant self-storage portfolio of four properties located in New York and Connecticut. The portfolio consisted of 228,037 net rentable square feet in 2,485 units. The properties were offered unpriced and were widely marketed to self-storage REITs, pubic companies, funds and individual self-storage investors.
According to Nick Malagisi, Product Council Chair for the SVN National Self-Storage Team, “this portfolio attracted national attention because of its size, the strategic locations, the consistently high occupancies and revenue overall and the pride of ownership evident at each facility.”
The four brokers worked cooperatively to list and close this major transaction which included the assumption of one CMBS loan in less than 5 months.
SVN® is the only commercial real estate firm that markets all of its properties to the entire brokerage and investment community. Participating in approximately $10.1 billion in sales and leasing transactions in 2015, SVN Advisors shared commission fees with co-operating brokers in order to close more deals in less time and at the right value for clients. This open, transparent and collaborative approach to real estate is the SVN Difference.
For more information on SVN, visit www.SVN.com
About SVN®
Sperry Van Ness International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, is one of the industry’s most recognized names based on the annual Lipsey Top Brand Survey. With 200 locations serving over 500 markets, SVN® provides sales, leasing, corporate services and property management services to clients across the globe. SVN Advisors also represent clients in auction services, corporate real estate, distressed properties, golf & resort, hospitality, industrial, investment services, land, medical, multifamily, office, retail, self-storage and single tenant investments. All SVN® offices are independently owned and operated. For more information, visit www.svn.com.
Contact
Name: Connie Neville
Title: Managing Director and Co-Chair Self Storage Product Council
Email: nevillec@svn.com
Phone: (781) 696-6241

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4 Ways to Improve Your Self Storage Blog

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If you’re struggling to get traffic to your self storage blog or keep readers on-page for longer than a few seconds, it may be time for an update. There are always opportunities to improve your blog, whether in the content you’re producing or in the layout and design. Here are four ways you can improve readability and design on your facility’s blog to provide a better user experience for readers.

Simplify the Design

Blogs with cluttered layouts, that are hard to navigate, and that make posts difficult to view can be frustrating for readers. If you’re trying to draw potential customers to your self storage blog—and eventually lead them to conversion points on your website—the last thing you want to do is push people away. Try simplifying the look and feel of your blog so that it’s easier to read and navigate. This is important because it allows readers to quickly find information they’re looking for, and it means they may even stay on your site longer.

Edit Your Blog Posts

Always review your blog posts before you post them. You don’t want people who are new to your blog to get a bad impression of your facility, especially if they’re potential customers. You don’t need to go out and hire an editor. Start small with online resources that can help you avoid obvious mistakes. It’s incredible how quickly you can find misspellings and poor grammar when simply reviewing a post.

Break Up Your Posts

Internet readers can get bored or overwhelmed with long posts and large blocks of text. An easy way to break up the page is to add headers, images, and videos. Breaks help readers rest their eyes a moment and quickly find important information. This is especially true when viewing posts on mobile devices, as trying to read a post with 1,000+ words and no breaks on a phone or tablet is annoying.

Stick to Topics Within Your Industry

When you’re deciding what you’ll write about, make sure it always ties back to self storage. This makes it easier for new customers to connect you back to the industry as a whole, giving them a better sense that they’ve come to the right place for storage information. If you only have a few posts discussing topics related to the storage industry, and everything else is about movies or cute animals, customers may be confused about what you do.

Take a moment to look through your self storage blog and consider where you can make changes that will improve the overall experience for your readers. That way, current customers will be happier to come back and read new posts, and potential customers won’t be as quick to turn away.

# # #

BJ Tobin joined Storage.com in 2015, taking on the role of Senior Account Executive. BJ works closely with many of Storage.com’s clients.

Before joining Storage.com, BJ was a partner at Wave Interactiv , helping clients like Cubesmart, Green Plains Energy, and Prince Tennis expand their companies through database technologies online. His experience of building companies online gives Storage.com an advantage in launching its Web Design & Local SEO Solution for small to mid-sized operators.

With nearly 20 years of sales experience, BJ provides the Storage.com team with another valuable member to grow our presence online and within the storage industry.

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Investment Real Estate, LLC Announces Sale of ABC Self Storage in York, PA

York, PA – June 9, 2016 Locally owned and operated Investment Real Estate, LLC announces the sale of ABC Self Storage for $780,000 to a private investor. ABC Self Storage is located just off Route 124 on East Pattison Street in York, Pennsylvania, which is about 25 miles south of Harrisburg.

ABC Self Storage consists of more than 150 storage units within 2 single story buildings. The property boasts excellent visibility from Route 124 (Prospect Road) in the heart of York city, with high daily traffic counts of over 7,500. The property opened in 2003, has an on-site rental office and sits on almost one acre of industrial zoned land. Property improvements include paved driveways, exterior lighting, fenced perimeter with two automated security gates with key-card access and a new website. Investment Real Estate has been involved in this property since its inception.

IRE performed the initial feasibility study, sold the land and approvals to another buyer, assisted with the construction and then brokered the sale of the property to the most recent Seller. This is now the third time that IRE has sold the property and they are happy to report that each owner made a handsome profit on their sale! IRE hopes the new buyer will continue this trend.

Kevin Bledsoe, Brokerage Advisor for Investment Real Estate, says, “We had two ownership groups with properties that were located within a few miles of each other and both had interest in selling. Additionally, we have an active buying group who are growing their footprint in Central PA. The sellers understood that they had a unique opportunity to cooperate on the sale of their properties with one buyer, which in turn created unique value for both the buyer and sellers. IRE has built a great relationship with all three parties involved and we were happy to create a win-win-win scenario for everybody.”

ABOUT INVESTMENT REAL ESTATE, LLC Since our inception in 1998, Investment Real Estate, LLC has specialized solely in the self storage industry, including Brokerage, Construction, Management and Development. We travel thousands of miles each year, meeting and getting to know clients in the markets we serve, networking at various industry associations and functions, while developing our reputation as the go-to source for information in the self storage industry. We are the #1 Broker of Self Storage in the Mid-Atlantic and Northeast States. For more information, please visit www.irellc.com.

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COMPASS SELF STORAGE REACHES 70 STORE MILESTONE

Untitled-5Cleveland, OH – June 9, 2016 – Compass Self Storage, a member of the Amsdell family of companies, proudly announces the acquisition of their newest self-storage center, located at 6307 Licking Pike in Cold Spring, KY.  Compass Self Storage (www.compassselfstorage.com), now has 70 self storage centers across the United States, including seven locations in the greater Cincinnati market. Company growth is projected to continue with the acquisition and development of quality self storage properties in select markets.

This newest Compass Self Storage center, located at AA highway and State Route 915 in Cold Spring offers over 65,000 net rentable square feet and features drive up and climate controlled units, electronic access, online payments, truck rental and a full line of moving and packing supplies. This Compass Self Storage location will also offer a smart phone app that will allow customers remote gate access via their phone.

“The addition of this self storage property will allow us to further expand in the greater Cincinnati market and offer a convenient, one-stop shop for the moving and storage needs for the residents and businesses in this area,” stated Todd Amsdell, President.

The above-mentioned acquisition was made by separate affiliates of Amsdell Group, LLC and Compass Self Storage, LLC. The Amsdell family of companies (Amsdell Companies) is headquartered in Cleveland, OH. Amsdell draws its roots from the family owned construction company founded in 1928 and has since been active in several billions of dollars worth of real estate ventures with a primary focus on self storage. As industry pioneers, Amsdell has owned and operated over 500 storage centers under various trade names in over 27 states.  With over 85 years of doing business, the Amsdell team has extensive experience in property acquisition, construction and property management. Please visit www.amsdellcompanies.com and www.compassselfstorage.com for more information.

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