Sentry Self Storage is Growing Again in Florida

Florida based Sentry Self Storage LLC, which provides management services to independent owners and investors is pleased to announce that it has been awarded the management contract for the following property:

 Sentry Self Storage 1900 6th Avenue Lake Worth, Florida. This asset consists of a unit count of 797 and 95,668 square feet.

About Sentry Self Storage, LLC

Sentry Self Storage, LLC, based in Coral Spring, Florida, provides a full spectrum of Management and Consulting Services. With over 40 properties under management in several states, and working with 18 ownership groups, Sentry has its finger on the pulse of the industry and can provide you with the solutions you are looking for to maximize the value of your asset. For more information, please visit us at www.sentry-selfstorage.com or call (954) 346-2330.

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Comparative Shopping: How Does Self Storage Measure Up? By Steven Ekovich

Strong fundamentals, steady returns, and less management intensive ownership have sparked the inter- est of investors to the self-storage market over the past several years. the self-stor- age market has shown resilience in times of economic downturn and steady gains during economic recovery. investors will have some concern for the next few years as a result of current weakness in the housing market, a slowing economy, and significant increases in new supply; however, the long-term outlook for self- storage properties remains positive.

A slowdown in the national economy has caused some weakness in self-storage demand over the past year. Employment growth slowed in 2007 to 1.1 percent, down from 1.7 percent in 200. in addi- tion, the credit crunch and housing woes continue to weigh on the economy, caus- ing Gdp to fall to 2.5 percent in 2007, down from 2.9 percent last year. these factors, coupled with the slowdown in the housing market, have caused a recent slowdown in demand.

A reduction in migration-generated demand due to weakness in the hous- ing market is forecast to limit improve- ment in occupancy levels in all but the strongest job markets. Further pressure on suburban occupancy levels will come from the cooling housing market and corresponding reduction in demand cre- ated by residents relocating into new homes. Some industry pundits portend demand will also increase as homeown- ers facing foreclosure in some previously overheated housing markets will store their goods. We believe this argument is specious because if they can’t afford, for example, an extra $100 in loan interest, it is unlikely they will run out and rent a storage unit after they have been foreclosed on.

Click Here to Read More…

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Sovran Self Storage, Inc. Announces Date and Time of First Quarter 2014 Earnings Release and Conference Call

Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), will issue financial results for the quarter ended March 31, 2014 after the market closes on Wednesday, April 30, 2014. The Company will conduct a conference call to review financial results and discuss operations on Thursday, May 1, 2014 at 9:00 a.m. Eastern Time.

To access the conference call, dial 877.407.8033 (domestic), or 201.689.8033 (international). Management will accept questions from registered financial analysts after prepared remarks; all others are encouraged to listen to the call via webcast using the link on the investor relations tab of the company’s website www.unclebobs.com/company.

The webcast will be archived for a period of 90 days; a telephone replay will also be available for 72 hours by calling 877.660.6853 and entering conference ID 13580118.

About Sovran Self Storage, Inc.

Sovran Self Storage, Inc. is an equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates 486 self storage facilities in 25 states under the name Uncle Bob’s Self Storage®. For more information, visit www.unclebobs.com, like us on Facebook, or follow us on Twitter

(via BusinessWire)

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PEST CONTROL: Keeping Vermin At Bay … The Non-Toxic Way By Erica Shatzer

Every living creature on our planet has a purpose and plays an important part in the ecosystem. Yet, these creatures can be quite a nuisance—or pest—when they inhabit our property. By definition, a “pest” is an organism which has characteristics that are regarded by humans as injurious, destructive, or unwanted. What’s more, the injuries and destruction pests produce can be costly—especially if there is an infestation. Fortunately, there are several simple, nontoxic, and inexpensive ways to prevent pests from invading your self-storage facility. So, before you call the exterminator or buy noxious pesticides, give these preventative measures a try.

Facility Upkeep

When it comes to pest control, the main objective is to keep critters from entering your buildings. Because pests typically enter a building through a small hole, crack, or crevice, routine maintenance of your self-storage facility is a necessity. Therefore, the most logical place to start is outside with an inspection of the facility’s exterior walls, doors, and windows. During the inspection, take notes as to the location of any cracks, crevices, holes, etc., that you find as they will need to be sealed with caulking or expandable foam. Both caulking and expandable foam are inexpensive and can be purchased at a local hardware store. For the best results, buy waterproof products that are made specifically for outdoor use.

Click Here to Read More ….

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A DOLLAR SAVED … The Importance Of Revenue Management By Noah Springer

How often have you asked yourself whether you are discounting too much? Or whether your unit prices are set too high? Or whether you can push your prices before your occupancy rate suffers? How much can you increase your existing customers’ rates before they move out? Is it possible to increase their rates beyond the posted street rates? How much of a premium can you charge to your competitor?

Extra Space Storage, the self-storage industry’s second largest company, asks these questions regularly and is moving closer to finding the solutions.

In most businesses, revenue and expenses are the two drivers that determine the bottom line. The current economic conditions have made it even more important for every facility manager and owner to manage expenses. While expense management is important, revenue management is crucial. As owners of storage facilities, we all watch expenses in order to increase the net operating income of the site. We believe in the saying, “A dollar saved is a dollar earned.” Our revenue management team also knows that, “Every customer’s rent increase is many dollars earned.”

Why Use Revenue Management?

Extra Space Storage has led the public self-storage REITs in average same-store revenue growth since the first quarter of 2006. This was not accomplished by manually reviewing rates for 400,000 customers. It was done by a group of highly skilled analysts and statisticians, utilizing thousands of tests and “revenue experiments” that we call “revenue management.”

Click Here to Read More ….

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Salford-Based Storage Firm Grows To Meet Rising Demand

Over the next 6 weeks, The Store Room on Eccles New Road will undertake a major expansion of its self storage facility where extra rooms are needed to meet growing demand from people moving house and from local businesses looking for short term flexible storage. The recent increase in demand from people moving house is a strong indicator that the local Salford and West Manchester housing market is finally on the road to recovery and the increase in business customers is a further sign that business confidence is returning to the area. The new rooms will be available to rent from mid-May 2014 and customers are reserving some of that space already.

The total capital investment at the Salford branch is approximately £100,000 and follows on from the company’s recent expansions at its Leicester, Leeds and Bradford locations where £200,000 has already been spent so far this year.

The Store Room’s Managing Director, Jeremy Bradburn explained his optimism in regard to the development of the Salford facility, “The early months of the year are normally quiet in the self storage industry, but 2014 seems to be bucking that trend. Enquiries and customer numbers are both significantly up against last year and we need to make the investment in our Salford location now to increase its capacity so that we can meet this extra demand”.

“We have a number of things in our favour at the Salford branch.” Bradburn continues. “Our close proximity to MediaCity and to Trafford Park makes us a natural choice for businesses seeking secure storage in the Salford area, whilst we are also ideally situated for all Salford and West Manchester domestic customers who need storage whilst moving house. The recent improvement in enquiries from people moving house is very encouraging and after a number of quiet years we are very excited about the months ahead”

About The Store Room

Established in 2007, The Store Room has become one of the UK’s leading providers of self storage services for businesses and private individuals. Headquartered in Manchester, the company operates branches in Bradford, Leeds, Leicester, Manchester, Preston and Rotherham. The Store Room provides customers with a broad range of facilities, including storage rooms, workshops, office space, hot desks and trade counters. For more information, please visit: www.thestoreroom.co.uk

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Public Storage to Release First Quarter 2014 Earnings Results and Host Quarterly Conference Call

 

 

 

 

Public Storage (NYSE:PSA) announced today it intends to release its first quarter 2014 earnings results on Thursday, May 1, 2014. A conference call is scheduled for Friday, May 2, 2014, at 10:00 a.m. (PDT) to discuss these results.

Live conference call

Domestic dial-in number: (866) 406-5408
International dial-in number: (973) 582-2770
Conference ID number: 25942930
Simultaneous audio webcast link:

www.publicstorage.com, under “Company Info, Investor Relations, Upcoming Events”

Conference call replay

Domestic dial-in number: (800) 585-8367
International dial-in number: (404) 537-3406
Conference ID number: 25942930
Webcast link:

www.publicstorage.com, under “Company Info, Investor Relations, Webcasts”

Date accessible through: May 16, 2014

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At December 31, 2013, the Company had interests in 2,200 self-storage facilities located in 38 states with approximately 141 million net rentable square feet in the United States and 188 storage facilities located in seven Western European nations with approximately ten million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 29.7 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at December 31, 2013.

Additional information about Public Storage is available on the Internet. The Company’s web site is www.publicstorage.com.

(via BusinessWire)

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CubeSmart Announces the Date of Its First Quarter 2014 Earnings Release and Conference Call

CubeSmart (NYSE: CUBE) today announced that the Company intends to release financial results for the three months ended March 31, 2014 after the market close on Thursday, May 1, 2014. An accompanying conference call will be held at 11 a.m. ET on Friday, May 2, 2014.

A live webcast of the conference call will be available online from the investor relations page of the Company’s corporate website at www.CubeSmart.com. The dial-in numbers are 1-888-317-6016 for domestic callers, +1-412-317-6016 for international callers, and 1-855-669-9657 for callers in Canada.

After the live webcast, the call will remain available on CubeSmart’s website for 30 days. In addition, a telephonic replay of the call will be available through June 1, 2014. The replay dial-in numbers are 1-877-344-7529 for domestic callers, +1-412-317-0088 for international callers, and 1-855-669-9658 for callers in Canada. The conference number is 10044146.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 540 self-storage facilities across the United States. According to the 2014 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.

The Company plans to exceed Customer expectations by adding more personalized services and technology to some of the best storage spaces around. The Company’s self-storage facilities are designed to offer affordable, easily accessible, secure, and, in most locations, climate-controlled storage space for residential and commercial customers. CubeSmart® services include storage customization, logistics services, comprehensive moving services, organizational services, and office amenities.

For more information about business and personal storage or to learn more about the company and find a nearby storage facility, visit www.CubeSmart.com or call CubeSmart toll free at 800-800-1717.

(via MarketWired)

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Determining Demand: Finding The Forces That Drive The Need For Storage By Benjamin Burkhart

Are you thinking of building a new self-storage business? Have you lost market share in this recession? Is your facility new and navigating lease-up? Is your business well established? If you answered “Yes” to any of these questions, you must get to know your market and your customer. As our industry becomes more competitive, owners, managers, and employees should have a solid understanding of who they serve, why they serve, and when they serve their tenants. What creates the demand for your facility and how do you meet that demand?

As I study micro markets, I often ask local facility managers to tell me about their local self-storage market. Owners, as business people with millions on the line, the responses I get would blow you away. Most of the time, the answer is “It’s pretty good,” or maybe“It’s hard dealing with the public, but it’s a pretty good job.” I’m always amazed at how developers will spend millions on buildings, signage, and driveways, and then pay $10 an hour for a relatively incompetent manager who has no understanding of local demand or their customer. Even some of the big boys take this approach.

Almost every market I visit has a different brand of competition. I don’t mean different names or different signs—it’s more than that. From the complacent market where everyone offers the same “commodity” of space for the same price, to those fierce with skilled competition, every micro market is unique. All markets are not created equal; to assess the needs of a particular one, we must dive into the forces that drive demand.

Click Here to Read More ….

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Fitch Rates Sovran Self Storage’s $175MM 4.533% Senior Unsecured Term Notes ‘BBB-’

Fitch Ratings has assigned a ‘BBB-’ rating to the $175 million 4.533% Series E senior unsecured term notes due 2024 jointly issued by Sovran Self Storage, Inc. and its operating partnership, Sovran Acquisition, L.P. (NYSE: SSS, collectively Sovran). Net proceeds will be used to repay amounts outstanding on Sovran’s line of credit and to fund future investment activity.

 

Fitch currently rates Sovran as follows:

Sovran Self Storage, Inc.

  • Issuer Default Rating (IDR) ‘BBB-’;
  • Unsecured revolving credit facility ‘BBB-’;
  • Unsecured term notes ‘BBB-’.

Sovran Acquisition, L.P.

  • IDR ‘BBB-’;
  • Unsecured revolving credit facility ‘BBB-’;
  • Unsecured term notes ‘BBB-’.

KEY RATING DRIVERS

The ratings reflect the strength of Sovran’s credit metrics, driven in large part by the sustained robustness of operating fundamentals. Leverage and fixed-charge coverage are strong for the rating but expected to moderate along with fundamentals through 2015. These positive elements are balanced, in part, by a concentrated debt maturity schedule, the inherent cyclicality in fundamentals and a small, geographically concentrated portfolio.

ROBUST OPERATING FUNDAMENTALS

Sovran’s portfolio continues to perform well with same-store NOI (SSNOI) growth of 9.9% for 2013 following growth of 10.3% and 6.2% in 2012 and 2011, respectively. Operating performance has been driven by a variety of factors including the traditional drivers (e.g. the single-family home market and economic growth), the implementation of sophisticated revenue management software and the long-anticipated consolidation of market share from smaller competitors.

Since implementing its revenue management system and cutting rents during the downturn, same-store occupancy has improved to 89.1% at Dec. 31, 2013 as compared to 79% at March 31, 2010. In 2013, asking rents grew by +5.7% and average rent increases in 4Q’13 were +3.3% year-over-year. Fitch’s base case assumes SSNOI growth moderates through 2015 to the low-to-mid single digits and will be mostly rate driven as compared to the past few years when occupancy was the main supporter of growth.

Click Here to View The Entire Report …

(via PRNewswire)

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