SiteLink Receives PCI DSS Level 1 Security Certification

Sitelink_Logo_Taglin 600px (1)

 

SiteLink, the global industry leader in self-storage management software, announces another security compliance achievement by receiving the PCI DSS Level 1 Service Provider Certificate of Compliance.

The Payment Card Industry (PCI) Data Security Standard (DSS) is an information security standard defined by the Payment Card Industry Security Standards Council. These standards cover all aspects of cardholder data in a system and include card data entry, processing and secure payment applications. Large companies such as Amazon.com pass the PCI DSS Level 1 Certification which stands out as the highest level of certification in the payment card industry. Leading brands such as American Express, Discover, MasterCard and Visa have incorporated PCI-DSS as the technical requirements for their data security compliance programs.

SiteLink“This level of certification represents a major commitment and investment by SiteLink,” said Markus Hecker, SiteLink’s Chief Operating Officer. “We manage our customers’ data in accordance with the highest security standards.”

This achievement follows the recent launch of SiteLink Merchant Services™which allows direct payment processing for SiteLink users without a third-party vendor and provides added liability protection and security.

Following the breaches in 2014, self-storage owners should ask their management software provider for their security level certificate and their process of safeguarding data. Owners should consider PCI certified software, not just PCI compliant software. Software companies can claim PCI compliance without undergoing third party audits under the PCI Council jurisdiction. To protect their interest, owners should check their software provider’s actual PCI Certificate validating audit completion and proper network security standards.

SiteLink’s PCI DSS Level 1 Certification is a critical component of its comprehensive and transparent leadership effort to protect businesses. “We have always held security certifications as a priority to demonstrate how we keep customers’ best interests above all else,” said Luke Lenzen, SiteLink’s Chief Technology Officer. “Undergoing this type of certification is not a small feat. Data encryption and quarterly penetration testing are focal points of our security strategy.”

The PCI DSS Level 1 Certification brings peace of mind to owners with the understanding that external auditors have certified the SiteLink suite of software products after the most stringent security audit.

SiteLink’s PCI DSS Certificate of Compliance can be obtained here.

About SiteLink
Founded in Raleigh, North Carolina in 1996, SiteLink is the most prominent smart management software in the self-storage industry with more than 11,000 stores worldwide. Feature-rich software, quality service, regular updates and user-friendly design make SiteLink Web EditionTM a highly scalable, easy to deploy favorite of single and multi-store owners including 70 of the top 100 operators. At no additional charge, SiteLink integrates with more than 30 technology partners’ services including kiosks, mobile devices, websites, insurance, call centers and other platforms. Powerful, built-in features like SiteLink Merchant Services™ deliver payment processing without a third party provider. Another industry-first service, SiteLink eSign™, offers electronic signature, online rentals and lease archival. Profit potential from revenue management, built-in CRM, email and text messaging remains unsurpassed.

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EMERALD COAST SELF-STORAGE FACILITY SELLS FOR $10 MILLION

Seagrove Beach Self StorageMarcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Seagrove Beach Self Storage, a self-storage facility in Santa Rosa Beach, Fla. featuring 577 climate-controlled storage units. The $10,000,000 sales price equates to $153 per square foot, which sets a new record for self-storage facilities of this size sold in the Florida Panhandle so far this year.

Michael Mele, senior vice president investments in Marcus & Millichap’s Tampa office, and Stacey Gorman, senior associate in the firm’s Atlanta office, represented the seller, an Atlanta-based family trust, and the buyer, a private operator based in South Florida.

“Seagrove Beach Self Storage is an extremely high-quality asset with historically high occupancy rates,” says Mele. “It will make a great addition to the new owner’s portfolio.”

“The acquisition gives the purchaser significant market share with very limited competition,” adds Gorman. “Restrictive building regulations combined with the high cost of land in Santa Rosa severely limit any new competitors from entering the market.”

Built in 2006, the 65,540-square-foot facility is located at 4297 East County Highway 30A— also known as Scenic 30A—in Santa Rosa Beach, Fla. The property serves the 16 beach communities of South Walton, all of which are located along a 26-mile stretch of Northwest Florida’s famed Emerald Coast. Each community features a tranquil setting enforced by strict zoning requirements, luxury beach houses, upscale restaurants and art galleries. In 1998, The Truman Show starring Jim Carrey was filmed in the Seaside beach community.

Seagrove Beach Self Storage features one three-story building, a manager’s leasing office, electronic gate access, computerized security, commercial and residential spaces, freight elevators and a sprinkler system.

 

About Marcus & Millichap (NYSE: MMI)

With over 1,300 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 6,600 transactions in 2013 with a value of approximately $24 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

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Only 9 Days Left to Pre-Order the 2015 Almanac and Save!

PRE-ORDER  THE 2015 SELF-STORAGE ALMANAC NOW FOR SHIPMENT ON OR BEFORE DECEMBER 31, 2014 … AND SAVE 15%!!!

ALM 15 Cover

 

2015 Self-Storage Almanac
$199.95 Print/Digital Combo
$129.95 Digital Edition
$159.95 Print Edition

The prices shown above reflect a 15% discount valid for all orders placed by December 31, 2014. 

Regular pricing goes into effect on January 1, 2015. (Regular pricing: digital only $149.95, print only $174.95, print/digital combo $229.95.)

CLICK HERE TO ORDER NOW!

The 2015 Self-Storage Almanac features data including customer base, economics and demographics, management, quarterly occupancy and rental rates, a well as other benchmarking statistics and data.

Topics Includes:

  • Customer Base
  • Rental Rates
  • Occupancy
  • Management
  • Valuation
  • Financing
  • Supply & Demand Analysis
  • And Much More!
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MiniCC Storage (self-storage) Shanghai Offers Tips For Renters

MiniCC_Storage_signature_02MiniCC Storage (self-storage) Shanghai is the largest and most experienced self-storage provider in Shanghai (www.minicc.com). After 5 years in China (and 15 years in Europe – we operate 37 facilities in Europe www.myplace.de) we have gained a lot of experience in the local market and try to provide the best service in the Shanghai. MiniCC is here for the long term expanding with multiple facilities.

Pudong FacilityMiniCC self-storage Shanghai owns and operates multiple storage facilities in Shanghai. We offer storage units in a various sizes ranging from 1m³ lockers to 50m² (2.6m high) storage units. For businesses, self-storage is an alternative to owning or leasing expensive space; self-storage helps to free up the work space and focus on the core business.

Our tip to anyone renting self-storage in China:

  • Choose a provider who owns the property not a provider who rents the property. Rental providers in Shanghai have closed down causing losses to clients who pre-paid rental and also left costumer belongings unattended once shut. Our advice: do not risk it. Choose an owner of property and not a renter if you want security and stability.
  • Some providers convert areas which are not warehouse authorized into storage and operate it with the risk of being shut down. Basements for example in China do not have a property deed therefore using those as storage is illegal as they are common areas owned by all landlords. This is a grey area. Our advice: do not risk it! Choose a big provider vs. small one, and one were property usage is warehousing.
  • Website/Reality Check: Go and visit before you choose your storage provider – especially in places where there are no market standards yet it is extremely important to visit the place you want to store – Websites and Reality differences are huge and in some cases you will be surprised. Our advice: do not risk it: visit a couple of providers and make your choice on what you see in on your visit and not on what you hear and see on a website.

Puxi Facility 1We hope that those simple tips about self-storage in China make it easier for people to identify the right choice for them.

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Another Storage Santa Sighting!

santa03With Christmas quickly approaching, Santa Claus is expected to be seen at malls, toy stores, or maybe even at a library—anywhere children typically go to see the jolly old guy. Santa, however, was never expected to be seen at a storage facility, which is why recent footage from multiple facilities across the country have a lot of people wondering what’s going on.

It all began with someone posting cell phone footage of a man with a white beard wearing red pants and the suspenders to match quickly running away from a storage unit. Originally, people thought it was a joke or misunderstanding, perhaps a mall Santa who just didn’t want to be seen. Those thoughts all changed once security footage was leaked of the same man at multiple facilities across the country, all within several hours of each other. That’s when the witnesses came out.

Once videos were made available, one eyewitness reported seeing Santa during a late night visit to her storage unit. While that alone is worth thinking about, a number of storage facility operators admitted to having been approached by associates of the North Pole for a storage unit rental that would be used during the Christmas season to help with gift delivery, though negotiations apparently fell through due to Santa’s high demands.

And if that wasn’t enough to prove Santa’s secret storage units, an elf going by the name Pickle has come forward in an interview admitting it’s all true. While she’s keeping her real identity a secret, Pickle reveals all 12 of Santa’s demands, from requiring a climate-controlled storage unit to having pine-scented beard oil on hand during his stop.

To read the full story, visit blog.storage.com.

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New York Self Storage Investment Forum 2015 Hosted by the New York Self Storage Association

NYSSAThe New York Self Storage Association is proud to present its 5th annual Real Estate and Finance Forum at the beautiful and historic Union League Club in New York on January 13, 2015. Join us for another informative and entertaining day long event featuring multiple panel presentations that will address the state of the self storage industry from a finance and Capital Markets perspective and evaluate the acquisition and development landscape in self storage globally and with a particular eye on New York.

After registration and opening remarks, the Forum starts at 10:30am with a Capital Markets Panel presented by Jim Davies of Talonvest Capital. This dynamic panel will be moderated by Owner/Operator Brian R. Cohen, President of Andover Properties, who will lead a discussion on the capital markets with leading self storage lenders and institutional investors including: Francis X. Gilhool, Managing Director, Real Estate and Finance for Barclays; Jon Albertell, Managing Director, Real Estate Capital Markets at Wells Fargo; Stephen Clark, Investor – Ground-Up Developments, Clark Investment Group; and Eric Snyder, Principal, Talonvest Capital, Inc.

Our luncheon will be highlighted by a keynote address from Alexander Harris, Self-Storage Industry Reporter for the SpareFoot Storage Beat, who will discuss the state of supply and demand in the storage industry and a look into future trends using SpareFoots powerful data analytics.

The afternoon program will begin at 1:15pm with the Development and Acquisition Panels presented and moderated by Nick Malagisi, National Director of Self Storage for Sperry Van Ness/Commercial Realty. Development panelists include: Gary Sugarman, CIO, William Warren Group; Gary Delaney, President of Banner Storage; Frank Relf, Principal of Relf Architects; and Jim Goonan, Vice President of Safeguard Self Storage.

The final session of the day will address recent acquisitions and the prospective environment in the self storage industry and will include the following panelists: Elizabeth Raun Schlesinger, Vice President, WP Carey; Jim Stevens, Senior Vice President of Extra Space; Jonathan Perry, Senior Vice President, CubeSmart; and Todd Amsdell, President and CEO of Compass Self Storage.

A networking reception will immediately follow the Forum held on sight in the Union League Club Library. The Union League Club is a historic private club that has been at the heart of business and politics in New York City since 1863.

This event is open to the public, but availability is limited. Come see why the self storage industry in New York is the hottest market in the country.  Join us as we host national real estate and finance professionals that will evaluate and discuss the New York self storage marketplace in the finance capital of the world.

For more information or to register, please visit the NYSSA website at www.nyselfstorage.org and follow the link at the top of the page, or at: http://nyselfstorage.org/images/NYSSA_2015_Forum_Flyer_Registration.pdf.

NYSSA is a not-for-profit corporation formed in 1982. The purpose of the Association is to provide a powerful network of information and a wealth of experience to those who are in or wish to enter the self-storage industry. As a member, you benefit from the advice and experience of industry insiders and other self-storage operators throughout New York State.

The primary aim of NYSSA is to give each owner/operator a support system for dealing with lien law and auction questions, building code issues, property tax strategies, manager education and industry visibility. Our goal is to link the entire industry in New York State, to act as legislative watchdog and to be the VOICE of the Self-Storage industry in the Empire State!

 


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AMSDELL COMPANIES ACQUIRES CLASS ‘A’ SELF STORAGE CENTER IN FERNANDINA BEACH, FL

compassCompass Self Storage, a member of the Amsdell family of companies, is pleased to announce the purchase of a Class ‘A’ self storage property located at 2641 Bailey Road in Fernandina Beach, FL.  The new self storage center offers over 68,000 net rentable square feet and will be operated by Compass Self Storage, LLC (www.compassselfstorage.com). This store will be the fourteenth location currently operating under the Compass flag in Florida, and it marks the twelfth self-storage center that Compass has opened in 2014.

Compass - Fernandina BeachThe state-of-the-art self storage center offers indoor climate controlled units, digital surveillance, electronic access and a full line of moving and packing supplies.  It will also offer truck rental. “We are proud to expand our footprint in the greater Jacksonville market. We are committed to providing top notch service to area residents and businesses who are moving and storing,” 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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MINICO INSURANCE AGENCY ACHIEVES MILESTONE IN ITS FINE ART AND COLLECTIBLES INSURANCE PROGRAM

Mini-Storage Messenger<br />

Over 1,000 agents have now enrolled in the MiniCo Collectibles Insurance program offering coverage for private collections of fine art and other collectibles.

MiniCo Insurance Agency is celebrating the milestone achievement of enrolling over 1,000 agents in the MiniCo Collectibles Insuranceprogram since the program launched in late 2011.

Keith McConnell, MiniCo’s Vice President of Business Development, said that feedback the company has received about MiniCo Collectibles Insurance demonstrates that agents are increasingly choosing the program as an alternative coverage solution for clients with valuable collections. “Agents report that they enjoy the ease of use of our online agent portal and the ability to get a quick quote to insure collections in a number of popular categories,” he said. “They also tell us that they appreciate the wide range of eligible collectibles such as fine art, wine, sports memorabilia, stamps, guns and related equipment, comic books and action figures, model trains, rare books, and hundreds of others.”

MiniCo President and CEO Mike Schofield commented, “The high quality of the coverage combined with its affordability for the policyholder and ease of use for the agent makes MiniCo Collectibles Insurance an ideal solution for agents to offer to their personal lines clients, many of whom may have collections of valuable items that require specialized coverage.”

MiniCo Collectibles Insurance is offered nationwide in partnership with AXA Insurance Company, the only globally operating specialty art and collectibles insurance company offering tailor-made coverage solutions for private and corporate collections, museums, galleries and artists. AXA Insurance Company has been assigned a rating of “A” (Excellent) by A.M. Best.

About MiniCo Insurance Agency, LLC
MiniCo Insurance Agency, LLC, was founded in 1974 as a provider of specialty insurance products and publications for the self-storage industry. Today the company is a program administrator offering multiple specialty property and casualty insurance products for a variety of unique industries and exposures. MiniCo Insurance Agency, LLC, the parent company of MiniCo Insurance Agency of Canada, Incorporated, is a member of the Aran Insurance Services Group.

Contact
Dan Sommer
MiniCo Insurance Agency
602-678-3504
dsommer@minico.com

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ARGUS SELF STORAGE SALES NETWORK BROKER AFFILIATE SELLS 3-PROPERTY SELF STORAGE PORTFOLIO IN KANSAS CITY

ARGUS Shawnee KS

Store Here LLC completed the purchase of 3 Class A facilities in the Kansas City Metropolitan area.  Totaling over 269,000 rentable square feet, the facilities had an average economic occupancy of 90% and are located in the high growth western suburbs of Shawnee, Kansas and Kansas City, Kansas.  Kansas City has recently attracted national players with its stability, steady growth and attractive investment returns.

The portfolio will be managed by Store Here Self Storage Property Management, based in Orange, California.    Store Here currently has 20 self-storage facilities in their portfolio with over 1.4 million rentable square feet under management. RHW plans to expand the Store Here brand with an aggressive strategy, which includes acquiring additional assets and securing new management contracts.  For more information call James J. Hanrahan (949) 427-8311 or visit www.storehere.com.

Larry Goldman, CCIM of RE/MAX Commercial represented the seller in the transaction.   Larry can be reached at 913-707-9030 or lgoldman@selfstorage.com.  He is the Argus Self Storage Sales Network Broker Affiliate for the states of Kansas, Missouri, Arkansas and Southern Illinois.

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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Sovran Self Storage, Inc. Announces Financing of $625 Million in Senior Unsecured Credit Facilities, Expands Credit Line

Sovran_Logo

Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), today announced details of financing arrangements totaling $625 million of senior, unsecured debt.

“The increased capacity provided on our line of credit and the improved pricing will allow us to continue to execute on our growth plan. In addition, it provides Sovran with a path toward the public debt market.”

As part of the new arrangement, the Company’s revolving credit limit increased from $175 million to $300 million, and the maturity date was extended to December 10, 2019. The interest rate on the revolving credit facility was reduced from 1.50% over LIBOR to 1.30% over LIBOR, based on the Company’s current investment grade credit rating of BBB-. The facility fee was unchanged at 0.20%.

The arrangement also reduced the interest rate on the Company’s $325 million term notes from 1.65% over LIBOR to 1.40% over LIBOR based on the Company’s current investment grade credit rating. The maturity date for the $325 million of bank term notes remains June 4, 2020.

The agreement provides the Company an option to increase the facility by an additional $225 million.

“The continued support from our bank group has further strengthened our already solid credit profile,” commented Andrew Gregoire, CFO. “The increased capacity provided on our line of credit and the improved pricing will allow us to continue to execute on our growth plan. In addition, it provides Sovran with a path toward the public debt market.”

Wells Fargo Securities and M&T Bank were Joint Lead Arrangers and Joint Bookrunners in the transactions; Wells Fargo Bank served as Syndication Agent; SunTrust Bank, HSBC Bank USA, N.A., PNC Bank, N.A. and U.S. Bank, N.A., each served as Co-Documentation Agents. A total of nine lenders participated in the syndication.

As detailed below, the Company has interest rate swap agreements in effect to effectively convert the $325 million of variable-rate bank term notes to fixed-rate debt. The Company did not enter into any new interest rate swap agreements in conjunction with the amended facilities, and all of the existing swap arrangements remain in place.

Existing Interest Rate Swap Agreements:

Notional Amount

Effective Date

Expiration Date

Fixed LIBOR
Rate Paid

Current

$125 Million 9/1/2011 8/1/18 2.3700%
$100 Million 12/30/11 12/29/17 1.6125%
$100 Million 9/4/13 9/4/18 1.3710%

Forward start

$100 Million 12/29/17 11/29/19 3.9680%
$125 Million 8/1/18 6/1/20 4.1930%

FORWARD LOOKING STATEMENTS:

When used within this news release, the words “intends,” “believes,” “expects,” “anticipates,” and similar expressions are intended to identify “forward looking statements” within the meaning of that term in Section 27A of the Securities Act of 1933, and in Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Such factors include, but are not limited to, the effect of competition from new self storage facilities, which could cause rents and occupancy rates to decline; the Company’s ability to evaluate, finance and integrate acquired businesses into the Company’s existing business and operations; the Company’s existing indebtedness may mature in an unfavorable credit environment, preventing refinancing or forcing refinancing of the indebtedness on terms that are not as favorable as the existing terms; interest rates may fluctuate, impacting costs associated with the Company’s outstanding floating rate debt; the Company’s ability to comply with debt covenants; the future ratings on the Company’s debt instruments; the regional concentration of the Company’s business may subject it to economic downturns in the states of Florida and Texas; the Company’s ability to effectively compete in the industries in which it does business; the Company’s reliance on its call center; the Company’s cash flow may be insufficient to meet required payments of principal, interest and dividends; and tax law changes which may change the taxability of future income.

ABOUT SOVRAN SELF STORAGE, INC:

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storagefacilities. The Company operates over 500 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.

Contacts

Sovran Self Storage, Inc.
Andrew Gregoire, CFO
716.633.1850

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