STORAGE EXPRESS CONVERTS FORMER BIG BOX RETAIL SPACE INTO SELF STORAGE FACILITY

1234STORAGE EXPRESS is excited to announce the opening of an indoor heated & cooled storage facility in Bloomington, Indiana. The company converted a former HH Gregg home electronics retail store into a 30,000 square foot storage facility. The property is on SR46 — the main road leading into the Indiana University campus, located less than a mile away.

This facility offers Storage Express’s signature 24/7 Rental Center at its main entrance.  The former audio installation bays were converted into Loading and Unloading bays. Controlled access keypads are located at each entry, and the facility is equipped with two dozen digitally recorded cameras streaming live feed to the company’s main office.

Storage Express owns and operates self storage properties across Indiana, Illinois, Kentucky, Tennessee, and Ohio.  This marks the company’s 88th location.  Rentals are centralized out of the Company’s headquarters, which is open 24/7.  Local field service representatives keep the properties in tip-top shape.

Storage Express has opened three locations in Indianapolis, Indiana and two in Columbus, Ohio over the past year. Another new facility is set to open in Lebanon, Indiana in May. More information about Storage Express can be found online at www.StorageExpress.com

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OpenTech and Storage Treasures Partner to Streamline the Self-Storage Auction Process

PHOENIX Arizona, May 12th, 2015 – OpenTech Alliance, and StorageTreasures.com, the world’s leading online storage auction company, announced today that they have partnered to streamline and automate the self-storage auction process. Storage Treasures will be using OpenTech’s Open API to eliminate the inconvenience and manual labor related to preparing for an auction, as well as reduce the pitfalls and liabilities associated with the auction process. The integration provides a secure method of integrating to multiple self-storage management software programs, resulting in less manual translation of data, making the process more consistent and accurate.

A faster, easier and more cost-effective way of handling the public-sale has arrived. And thousands of storage hunters are already lining up at Storage Treasures online auction storefront to do business. James Grant, President and CEO at Storage Treasures said, “The storage auction market is now dominated by the online players, and the most active and sophisticated buyer’s no longer waste time and gas traveling to storage sites to buy units. They realize that the power of the Internet allows them the opportunity to bid further away and at more locations from the comfort of their office.”

Grant said, “We needed a way to configure our software with individual self-storage companies’ management software. By programming with OpenTech’s integrated platform, we are able to automate online auction postings for the storage industry. Now, with this partnership, a facility manager will not have to manually load all of the pertinent information for an auction. Instead, it will preload automatically, and be ready if and when the time comes to start an auction. All the manager will need to do is cut the lock of the unit, take pictures of the unit contents, note the description of the items, and upload it to the pending auction.”

With over 900,000 active buyers on the company’s website, the partnership opens the doors for new buyer relationships and a more competitive bidding process. According to Grant, traditional auctions recoup only about half of what is owed by tenants in default. On the other hand, his service recovers more than 100% for his clients on average. “With much less headaches and stress on the manager,” added Grant.

Robert Chiti, President and CEO at OpenTech said, “Our Open API is making it easier for everyone in the self-storage industry to share data in a secure and standardized fashion, which saves us all money and time. We have been using the Open API for over 10 years and invest heavily into the technology to continue to enhance it, ensure it is always kept current and working properly. We are glad that Storage Treasures customers will be gaining value from our investment.”

About StorageTreasures: A web-based business that is revolutionizing the way in which the contents of self-storage units are publicly auctioned, after the lessee has failed to pay rent. The site provides guidance to the storage facility, buyers and auctioneers. The result of which includes professionally managed auctions, more competitive bidding and increased revenues. StorageTreasures educates all parties involved in the storage auction process with an overall goal to reduce the number of units that eventually go to auction.

Why We Do What We Do: Every day, OpenTech Alliance connects thousands of tenants with storage companies around the world. With over 4,000 daily transactions, the companies automated products and services helped store managers move-in over 100,000 tenants in 2014, generating over 100 million dollars in new sales revenue alone. OpenTech, Making Self-Storage Easier, So More People will Use It. For additional information, please click: OpenTechAlliance.com or call an OpenTech Business Development Manager at (602) 749-9370.

Press Contact: Mike Sawyer, Director of Marketing
OpenTech Alliance, Inc.
602.324.8655
msawyer@opentechalliance.com

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Stein acquires three self-storage sites, expands three properties

In just four years, portfolio grows to 650,000 square feet, 5,000 units.

 ATLANTA – Stein Investment Group acquired three sites in Marietta, Roswell and Cumming to develop its proprietary brand of self-storage facilities investing more than $25 million in this maturing asset class. The firm is also expanding three of its current self-storage properties in order to respond to continued market demand. While the Marietta site is a ground-up development, the Roswell and Cumming sites house existing storage facilities that will be redeveloped to align with the modern facility that defines the Space Shop brand. Construction at all properties is expected to commence second quarter. Together with its expansion initiatives, Stein expects to invest between $50-$75 million in this recession-resistant asset class throughout metro Atlanta and select southeastern markets over the next two years.

“With Space Shop, we are introducing storage solutions for the 21st century to residents in a way that reflects the surrounding urban and residential communities,” states Jeffrey L. Stein, founder and principal, Stein Investment Group. “Our substantial investment into this asset class makes the progressive design and state-of-the-art amenities a priority – along with other key features that are relevant and important to each market.”

Stacey Gorman, director of Marcus & Millichap’s National Self-Storage Group in Atlanta, represented the seller in both the Roswell and Cumming transactions.

“Located in areas of high population growth with above-average income levels, these two self-storage assets are extremely well positioned for renovation and expansion,” says Gorman. “Demand for self-storage investment real estate is at an all-time high and continues to attract investors like Stein Investment Group.”

In Marietta, the 70,000-square foot, three-story, 100% climate-controlled facility is planned for the 1.5-acre site at 3700 Roswell Road across from the recently opened WellStar East Cobb Health Park. The 525-unit Space Shop will be equipped with modern storage features such as a coffee bar, Wi-Fi access and community bulletin boards. To reflect the market’s high-income demographic, the facility will include larger unit sizes and climate-controlled wine storage. The architecture reflects the Federal/Williamsburg period blending with the surrounding, upscale communities. The facility is expected to open Spring 2016.

In Roswell, redevelopment of the former Quality Self Storage is set to deliver a modern, 100,000-square foot, self-storage facility bringing 1,000 units within three new buildings to this prominent Atlanta sub-market. Redevelopment plans at the six-acre site on State Route 9/Alpharetta Street transform this longtime unsightly parcel adding 45,000 square feet to the current footprint. Two one-story and one two-story buildings integrate a streetfront façade that complements Roswell’s downtown neighborhood feel. The facility is currently 88% occupied and was originally built in 1994; existing tenants will have full access during construction. The redevelopment of the Roswell Space Shop is slated to be complete early Spring 2016.

Also formerly home to Quality Self Storage, the Cumming site houses a 56,000-square foot self-storage facility originally built in 1987. Space Shop redevelopment plans will transform this outdated property into a modern, 76,250-square foot facility at 2016 Atlanta Highway. Once completed in late 2015, the state-of-the-art facility will feature 675 units (a 30% increase) and a new storage office with modern amenities closer to the street. The facility is currently 90% occupied; existing tenants will be have full access during construction.

“The success of our Space Shop product is driving the expansion of three of our existing self-storage facilities,” continues Jason E. Linscott, principal, Stein Investment Group. At 1461 Hudson Bridge Road in Stockbridge, Stein recently acquired three adjacent acres in order to add 305 units totaling 30,000 square feet to the perennially high-occupancy facility. Stein Investment Group originally acquired this asset in 2010. The facility at Hamilton Mill in Buford (2050 Gravel Springs Road) will gain an additional 30,000 square feet of self-storage at the current five-acre site allowing for 290 additional storage units. Stein Investment Group originally acquired this asset in 2011. Construction at the Loganville Space Shop at 530 Athens Highway will add 25,000 square feet to the existing footprint expanding to over 250 units. The expansion of all three facilities is expected to be complete this summer.

“We believe that a supply and demand imbalance exists within specific Atlanta submarkets and, therefore, see significant opportunity to build a self-storage portfolio of profitable, modern facilities that set a new standard for this asset class,” concludes Linscott. “The conditions for self-storage development are prime, with Wall Street considering this asset type as ‘recession resistant’ based on its performance since 2008. Our team is actively seeking those nodes with healthy residential growth and high barriers to entry.”

 

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About Marcus & Millichap (NYSE: MMI)

With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com

 

About Stein Investment Group

Headquartered in Atlanta, Stein Investment Group is a third-generation, private real estate investment firm recognized for its integrity and investment acumen. With over 150 years of combined real estate experience, the firm seeks unique real estate acquisition opportunities throughout the Southeast. The firm’s 2 million-square foot portfolio includes 250,000 square feet of retail, 225,000 square feet of office, 1,400 multi-family units and over 650,000 square feet of self-storage facilities. The team is recognized for its ability to respond quickly and capitalize on investment opportunities. For more information, go to www.steininvest.com.

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Investment Real Estate Construction, LLC completed expansion at Moove In Self Storage

MI741-Expansion-1York, PA – May 14, 2015    Investment Real Estate Construction, LLC (IREC) recently completed an expansion project at Moove In Self Storage located on Route 741 in Manheim Township, Lancaster County, PA. The project, known as Phase 2, started in July of 2014 and was completed in November of the same year.

IREC was responsible for obtaining all land development plans and permits in addition to designing and building the two new single story buildings. Adding 12,000 square feet, the single story storage units provide exterior access in order to meet the increased customer demand for drive up storage units. Moove In Self Storage on Route 741 now has 60 additional units that include sizes from 10×10 through 10×35. Select units have a heightened door to meet industrial storage needs. The completion of the construction marks the final addition to the facility.

John Gilliland, President and CEO at IREC, commented on the final addition, “It was clean, simple and completed without incident due to the hard work put in on Phase 1 of this project.”

The location at Shreiner Station Road (Route 741) will receive new signage in the next month to add the final touch to the Phase 2 expansion project.

IREC’s schedule is rapidly filling up for 2015. Demand for building of storage construction, renovation and expansion remains strong.

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 http://www.irellc.com/.

CONTACT

To learn more, please contact:
Jess Dubbs
Director of Marketing
10 Bentzel Mill Road
York, PA 17404
P: 717-779-0804
F: 717-779-0815
E: jdubbs@irellc.com

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BETCO Hires Henry Tracz, III, In Its Northeast Region

Henry TraczSTATESVILLE, NC — BETCO, Inc., a single-source self-storage building manufacturer based in Statesville, NC, has announced that it has hired Henry Tracz, III, to work in its Northeast sales region.

“BETCO is pleased to welcome Henry to our Northeast team. He was brought up in the self-storage industry and his extensive experience, organizational skills, and attention to detail will be extremely valuable to BETCO and, more importantly, to our customers,” John Barnard, Inside Sales Manager, BETCO, Inc., explained.

Tracz is a graduate of Emerson College in Boston, MA. He works with Northeast Marketing Co, LLC, the BETCO sales agent for the northeast, and is the business manager for Wareham Self-Storage in Massachusetts.

BETCO, Inc., has constructed more than 50 million square feet of storage buildings since its founding in 1984. BETCO has grown to become the premier single-source self-storage building manufacturer, providing everything a self-storage facility owner needs, including a full array of self-storage products and services, engineering, building design, shipping and installation.

BETCO has a network of experienced, professional sales reps throughout the United States. Call 1-800-654-7813 or visit www.betcoinc.com to find a BETCO sales representative near you.

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CSSA Offers Free Human Resources Products to Its Members

When a company tells you that it has a great product to make your life better, the first thing to cross your mind is probably “What’s the catch?” But when it is the California Self Storage Association (CSSA) offering up a great new service to its members for free, there is no catch. It is all part and parcel to what the CSSA does. Being a member most definitely has its benefits.

The CSSA is pairing with the California Employers Association (CEA) to provide members with a free Human Resource Hotline. CEA is a Human Resource consulting company that has been providing HR support to business owners in California for over 75 years. CSSA provides HR information and support by email at ceainfo@employers.org.

CSSA members also will receive a monthly newsletter (The California Employers Report) as well as the “CEA Weekly Update” – a weekly bulleting sent via email that highlights current HR issues and provides timely information on employment law developments in California.

“The human resource realm has changed dramatically over the last 10 years and we feel that by adding this free accessibility to the vast wealth of California Employers Association information and services, we will help our CSSA members in a substantial way,” said Erin King, Executive Director of the CSSA. “We are constantly looking at ways to improve self storage in our state and this human resource addition will hopefully be used by all our members. It is free, after all!”

CSSA members will have a login to use for the site’s benefits. The CSSA will get monthly reports from the CAE about the types of calls received from CSSA members and the CSSA, in turn, will use that information to structure future classes and membership benefits. The CEA also will contribute to a revamping of the CSSA employee manual for members for 2015. Members who previously purchased the manual will get the update for free – the updated template will remain priced as it was in 2014, only $299.00.

The CSSA’s new benefit is set to kick off on June 1 and the CSSA also expects the manual template to be available on the same date. King hopes that members will make good use of the offering to answer any and all human resource questions and needs.

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BETCO Hires Jeff Morgan as Director of National Accounts

Jeff MorganSTATESVILLE, NC — BETCO, Inc., a single-source self-storage building manufacturer based in Statesville, NC, proudly announces the addition of Jeff Morgan to the BETCO family. As Director of National Accounts, Jeff will focus on building relationships with prominent self- storage owners, general contractors, developers and suppliers in the self-storage industry.

Jeff brings 25 year’s experience in the self-storage industry encompassing estimating, project management, consulting and sales specifically in structural steel, doors and hallway systems for self-storage projects.

“Jeff is well-respected in the self-storage industry. Over the years, he has forged strong relationships with enterprise level self-storage operators and will be an asset not only to BETCO but to our customers as well,” said BETCO president, Sam Sabri.

As a nationally recognized single source manufacturer since 1984, BETCO specializes in engineering, design, manufacture and installation of single, bi-level and multi-story self-storage buildings, conversions, refurbishing older facilities, boat and RV buildings, portables and component sales. Call Jeff on his direct line at 704-437-4323 or email jmorgan@BETCOinc.com.

To reach BETCO, visit www.betcoinc.com or call 800-654-7813 to discuss your storage needs.

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Investment Real Estate Construction, LLC Completes Expansion at Storage Atlantic in Bear, DE

Storage-Atlantic-1York, PA – May 6, 2015 Locally owned and operated Investment Real Estate Construction, LLC (IREC) recently completed the construction of two new buildings at Storage Atlantic in Bear, DE. Storage Atlantic is located at 1 PGA Boulevard near Pulaski Highway (Route 40) in the commercial center of the community. Bear is an up and coming suburb of both Wilmington and Newark and has experienced rapid growth over the past 25 years.

The project added 17,100 square feet to the existing facility for a total of 172 new units of various sizes. The first building consists of 9,900 square feet of temperature controlled storage units, and the second building includes 7,200 square feet of standard units. It was a challenge to fit the exterior access, single story units into the state of Delaware’s requirements of having a full sprinkler system; each unit features its own fire prevention sprinkler head. Diligent planning, preparation and management lead this project to a successful completion.

IREC’s schedule is rapidly filling up for 2015. Demand for building of storage construction, renovation and expansion remains strong.

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 http://www.irellc.com/.

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ARGUS BROKER AFFILIATES SELL LARGEST FACILITY IN KENTUCKY

Paul Grisanti, CCIM and Mike Helline, of Grisanti Group Commercial Real Estate, sold Storage Solutions, located at 11440 Blankenbaker Access Dr. in Louisville, KY. This 110,000 RSF property sold on April 29, 2015 for $10,165,000. The facility is one of the largest in the state of Kentucky with 776 units and is located on the edge of an industrial park serving both residential and business customers. The owner built this facility in three phases over a ten year period. He built phase 1 in 1998 and grew the business to over $1,000,000 in annual rental income. Grisanti Group kept in touch with the owner over the years and kept him informed of the market conditions. The owner recently decided that the time was right for him to consider retiring, and this decision became much easier with the knowledge that it was a seller’s market. The property was purchased by W.P. Carey, Inc., a New York-based REIT and will be managed by Extra Space.

Based in Denver, Colorado, the Argus Self Storage Sales Network (ASSSN) was formed in 1994 to assist owners and investors of self-storage with their real estate needs. Through the years, Argus has assembled a network of real estate brokers experienced in self-storage and income property investments. Now the largest self-storage brokerage network in the United States, the ASSSN has 36 Broker Affiliates covering nearly 40 markets. These brokers are able to meet the needs of self storage investors and owners whether it is acting as a buyer’s agent or listing and marketing a property. For more information call 1-800-55- STORE or visit www.argus-selfstorage.com.

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Bill Alter and Denise Nunez closed on the sale of Palo Verde Mini Storage

Bill Alter and Denise Nunez closed on the sale of Palo Verde Mini Storage located at 255 E. McKellips Rd. in Mesa, Arizona. The property sold on April 16, 2015 for $3,925,000, which represents approximately $70 per square foot and a cap rate on in-place income of 5.3%. Palo Verde Mini Storage consisted of about 57,000 square feet and 567 units along with 40 uncovered parking spaces. The seller of the property was the original developer who had owned it for nearly 30 years. The property was purchased by U-Haul, who also purchased the adjoining vacant land for expansion. This sale represents the 141st sale for the Alter/Nunez team.

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

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