Capture123123TAMPA, FLA., July 30, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced today that the Mele Storage Group will “trim the fat” amongst their team members to see who can lose the greatest percentage of weight. The challenge will benefit the Self-Storage Association (SSA) Foundation Scholarship program, which provides scholarship awards up to $5,000 toward postsecondary education tuition and fees. This is a need-based scholarship program for students with at least a “C” average or 2.0 cumulative GPA on the 4.0 scale.

Michael Mele, senior vice president, Sean Delaney, first vice president, Luke Elliott, associate, Robert Bloch, associate, Kevin Menendez, associate, Brian Baldwin, associate, Tara Paronto, director of operations, Brian Fulton, senior analyst, and Kelly Russano, analyst, will all enter the six week challenge, which begins Monday, July 27, 2015 and ends Friday, September 4, 2014 just before the annual SSA Fall Tradeshow and Conference in Las Vegas, Nevada. “With the long hours and travel everyone has been putting in, our health has fallen to the back burner. We realized we needed to do something to turn things around and with the Vegas show coming it was the perfect timing,” said Mele. “This is a great cause to give back to and healthy is certainly better, but I’m just really tired of all the young guys in the office talking about my ‘broker body,’” Elliott adds.

Each team member will weigh in every Monday, and the results will be reported directly to the SSA for distribution to the entire self-storage community. The group will also post their progress on their social networking feed and their website at “It started out as a friendly competition in the office, then I thought why not use this as an opportunity to raise some money for a great cause,” says Mele. The Mele Group has pledged to donate $15 for every pound lost during the competition. “And I challenge our clients and friends to match the donation,” he concludes. #

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Capture321123CHARLOTTE, NC / July 27, 2015 —- Charlotte-based Morningstar Properties announced today that it has acquired a storage facility in San Antonio, Texas adding 95,000 gross square feet and more than 575 additional units to its portfolio.
Constructed in 2015, the Morningstar Storage branded complex offers a mix of units ranging from large drive up spaces suited for commercial users to 50,000 GSF of heated and cooled selfstorage units within in a 3 story state-of-the-art building. Located at 6826 Alamo Parkway, the facility is ideally situated to serve the burgeoning Alamo Ranch neighborhood in San Antonio; the 6th fastest growing master planned community in the United States. Alamo Ranch’s already strong demand for storage is well poised to increase with over 55,000 residents representing an estimated 18,500 households within a 3-mile radius of the new Morningstar facility, with a projected five-year population growth of over 15% compared to a national growth rate under 4%.
“This brand new and very crisp facility, fittingly named Morningstar of Alamo Ranch, is well situated to serve this very dynamic growth area anchored by the Alamo Ranch master planned development” said Dave Benson, President of Morningstar Properties. “As we look to expand our footprint in Texas, the San Antonio MSA is a strategic focus.
Morningstar acquired the property through its self-managed institutional investment vehicle, Blue Doors Storage Fund II, which has acquired 5 assets with the fund and plans to acquire several additional facilities in the greater San Antonio and Austin, Texas markets in the last half of 2015. Morningstar of Alamo Ranch is the company’s 5th storage asset in the San Antonio MSA.
About Morningstar Properties: Morningstar Properties is a vertically integrated real estate developer, owner and operator of specialty real estate products focused primarily on selfstorage and marinas in the Southeast United States. Since 1981, Morningstar has developed, acquired and operated over 135 self-storage projects across the country totaling in excess of 8.8 million square feet. The company manages a network of 36 storage properties under the brand name Morningstar Storage in nine states concentrated in the South. In addition to storage centers, Morningstar operates 12 marinas across the Southeast and Great Lakes. The corporate headquarters are located in Charlotte, NC. Morningstar’s future growth is funded through Blue Doors Capital Management, which manages the company’s affiliated private equity funds designated for acquisition and development of

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Westport Properties, Inc. Announces New President of Real Estate

CaptureWestport Properties, Inc. (WPI) today announced that Drew Hoeven has been promoted to President of Real Estate, effective immediately.

“Drew has played an integral role in the growth of our company,” said Charles Byerly, president and chief executive officer.  “I’m confident that Drew will continue to build on the success he has achieved and continue to provide opportunities for our company to expand its footprint throughout the eastern region of the country.”

Hoeven joined the company in 2005 and most recently was the VP of acquisitions. In his new role he will oversee the growth of quality acquisitions on the East Coast with the goal of increasing the company’s footprint in major MSAs.  Additionally, he will seek new development deals and help with the strategic direction of the company.

“Our current acquisitions and development pipelines are robust, and I’m excited about the opportunity to expand our portfolio,” said Hoeven.

In addition to his new responsibilities, Hoeven continues to serve as secretary for both US Storage Centers and Westport Properties, Inc., and he sits on the board of directors and advisors.  He is also a board member of Kure It, a non-profit his father founded to raise funds for innovative cancer research.

Previously, Hoeven led acquisition efforts that more than doubled the size of WPI’s East Coast presence, he spent time on the operations and development teams, and he led Storage Network Advantage, a company that provides marketing, insurance, and office administration services to independent self storage operators.  Hoeven is also a graduate of the University of Southern California, where he earned a degree in Policy, Planning, and Development.

Hoeven is also actively engaged in the community and real estate industry. He is a member of the USC Lusk Center for Real Estate; he sits on the next generation board for the Orange County Community Foundation; he is a member of the NAIOP Young Professionals Group class of 2008, and is a NAIOP Forum member; and he sits on the Large Owners Council for the Self Storage Association.

About Westport Properties – US Storage Centers

Founded in 1985, Westport Properties, Inc. is the parent company of US Storage Centers (USSC) and owns and operates self storage facilities in 13 states. The Company is a fully integrated operator that develops, acquires and manages its own portfolio—additionally, the company provides third-party management services. As of February 2015, it has over 6.5 million rentable square feet under management and employs over 200 people. US Storage Centers is a founding partner of the 501(c)(3)  Kure-It, a non-profit organization that raises money for underfunded cancer research, and Charity Storage, a 501(c)(3) that uses vacant storage units to raise money for local charities. To date, Kure-It has raised over $3.8 million and Charity Storage has raised nearly $220,000.

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Investment Real Estate Construction, LLC awarded new contract for Midway Storage III in Tyrone, PA

CaptureYork, PA – July 30, 2015 Investment Real Estate Construction, LLC (IREC) announces the signing of a construction contract to expand Midway Storage III in Tyrone, Pennsylvania. Midway Storage III is located on South Eagle Valley Road just south of Bald Eagle near Tyrone, which is in Blair County between State College and Altoona.

The facility enjoys easy access to Interstate 99/Route 220, which is the main thoroughfare in the area. IREC will construct a second single story building that will include 6,600 SF of drive up self storage units. Improvements will also include a new stone parking area. The project began in mid-July and has already had to overcome the challenge of frequent rainfall from day one. Construction is scheduled for completion in September of this year.

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Moove In Self Storage Launches Online Rental Portal

imageeYork, PA – July 30, 2015 Locally owned and operated Moove In Self Storage has launched an online rental portal, providing customers the option to rent a storage unit 24/7.

Moove In Self Storage has three locations in York County, seven locations in Lancaster County, three locations in Huntingdon County and two locations in Baltimore County, MD. The online rental portal was launched in early June and is available for all York, Lancaster and Baltimore locations directly from the Moove In Self Storage website at Customers now have the option to rent a self storage unit from start to finish 24 hours a day, 7 days a week. From selecting the unit type and size to processing a secure credit card payment, signing the lease and receiving an individual gate access code; the customer never has to leave home. They even receive an email receipt with a link to a map of the facility so they can easily locate their storage unit on the property.

When asked how this new feature will benefit customers, Jess Dubbs, Director of Marketing says, “Our new system is fantastic! We received our first online rental the day we launched, and have had a steady stream of online rentals ever since. We are now providing the option for our customers to rent a storage unit entirely online, from their couch, at 2am, in their PJs.” She also states, “Moove In is now reaching customers who, for any number of reasons, could not make it to our stores during regular business hours. They no longer have to shift their schedules around to rent a storage unit from us, they can just go online and complete the process in a few minutes from their computer or any mobile device. We are now providing 24 hour customer service for rentals which we never had before. How cool is that?” Moove In Self Storage is the first locally owned self storage company in the area to provide a 100% online rental option. Customers who rent a storage unit online receive a free disc lock for their storage unit as a “thank you” for using the new system. The online rental portal also provides the ability to view current unit rates and reserve a storage unit or parking space for a future date, allowing for the traditional face-to-face interaction at the rental office between the customer and property manager to complete the rental process, which some customers prefer.


Since our first facility opened in 1997, Moove In Self Storage has expanded to 15 facilities located throughout York, Lancaster and Huntingdon Counties in Pennsylvania and Baltimore County in Maryland. 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

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Metro Storage LLC to Develop New Self Storage Facility in Mundelein, Illinois

Metro Storage LLC recently announced the purchase of a parcel of land in the northwest Chicago suburb of Mundelein, Illinois to build a new self storage facility. Located on Butterfield Road just north of Route 60 in Mundelein, the new state of the art, three-story facility will encompass 80,000 RSF of 100% climate controlled units and will be the company’s 18th store in the Chicagoland area.

Located on a major north-south thoroughfare, this highly visible site is located close to retail and residential areas, and will be one of the first self storage facilities constructed in the market since 2000. Features of the new store include: 100% climate controlled interior and drive-up units, two interior loading bays, state of the art security, and a large, modern office area.

“This is an exceptionally designed building.” said Blair Nagel, CEO of Metro Storage LLC, “It will enable us to continue to provide our customers with the quality storage experience they expect from Metro.”

Construction of the 805 unit store will begin later this summer and is scheduled to open early in the second quarter of 2016 to serve the storage needs of Mundelein, Libertyville, and Vernon Hills.

About Metro Storage LLC
Metro Storage LLC is a privately owned, fully integrated, international self-storage operating company specializing in the development, construction, acquisition, and management of self-storage facilities in the USA and Brazil. Metro operates under the trademark Metro Self Storage in the US, being one of the top 10 largest owner/operators of self-storage facilities in the United States with over 100 stores covering 12 states. Metro operates in Brazil under the trade name MetroFit which is one of the fastest growing self-storage companies in Brazil. More information about the firm is available at

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PHOENIX – July 29, 2015 – Strategic Storage Growth Trust, Inc. (SSGT) recently entered into its first contract to acquire a certificate of occupancy facility consisting of a ground-up self-storage development located in the South Mountain Village area of Phoenix, Ariz. The total purchase price is approximately $7 million.

The developer, Phoenix-based Glacier Development, plans to build a two-story facility with approximately 800 units and approximately 30 RV units, which will break ground in the third quarter of 2015. This project is scheduled to be completed in the second quarter of 2016.

“We are excited to enter into our first contract for a certificate of occupancy transaction for a top-of-the-line, brand-new facility in a prime market like Phoenix,” said H. Michael Schwartz, chairman and CEO of SSGT.  “Our investment strategy is to continue to work with regional developers on certificate of occupancy opportunities located throughout the United States.”

The approximately 81,000 net rentable square-foot self storage facility will be located at 1500 East Baseline Rd and will offer 80% climate controlled units, drive-up units and covered RV spaces.

“We are embracing certificate of occupancy transactions because they eliminate many development risks and allow us to focus on the operations and the lease-up of the facilities,” said SSGT’s Senior Vice President of Acquisitions Wayne Johnson.

About Strategic Storage Growth Trust, Inc. (SSGT)

Strategic Storage Growth Trust, Inc. (SSGT) is a public non-traded REIT that focuses on the acquisition, development, redevelopment and lease-up of self-storage properties. The SSGT portfolio consists of nine self storage facilities located in five states comprising approximately 6,620 self-storage units and approximately 700,200 net rentable square feet of storage space. 

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Global Completes First Half 2015 Self-Storage Investments Totaling $161 Million

Capture321321NEW YORK, July 23, 2015 /PRNewswire/ — W. P. Carey Inc., a global net lease real estate investment trust (REIT), announced that during the first half of 2015, CPA®:18 – Global, one of its publicly held non-traded REIT affiliates, completed 15 separate self-storage transactions with an aggregate investment value of approximately $161 million, including acquisition costs. Individual transactions ranged from under $3 million to over $38 million.

Management Commentary

Liz Raun Schlesinger, W. P. Carey Managing Director and Head of Self-Storage, commented: “With the completion of these 15 transactions, we succeeded in acquiring 22 well-positioned operating facilities. Our experience in the sector, coupled with our management expertise and ability to assess new markets, allowed us to secure our first development opportunity and enter an attractive, growing and underserved Canadian market with an established local joint venture partner. Sourcing and executing on multiple transactions ranging from single properties to portfolios to solid development opportunities, our team continues to recognize attractive opportunities.”

Ms. Raun Schlesinger added: “In the self-storage sector, it is critical to not only buy right, but also to manage right. Our appreciation of the management component for self-storage investments has been a critical factor in our ongoing success with our existing assets. We are pleased to add strong, long-term income generating self-storage assets that support CPA®:18 – Global’s strategic investment and diversification objectives.”

Key Facts

  • Strong property management: Eighteen of the acquired operating properties will be managed by Extra Space Storage and four will be managed by CubeSmart. The to-be-developed facility in Vaughan, Ontario will be managed by Budget Development Group.
  • To-be-developed facility in Vaughan, Ontario: The development site, located in an affluent northern suburb of Toronto, will be developed in joint venture with local partner, Budget Development Group, an established developer and manager of self-storage facilities in Canada. Upon completion, which is expected to occur in August 2016, the facility will include 108,275 net rentable square feet, comprising 1,137 units.
  • Well-located, attractive operating facilities in strong markets:  The following acquisitions in the first half of 2015 expanded CPA®:18 – Global’s self-storage presence in Florida, Georgia and California, and added properties in Kentucky, Illinois, Nevadaand Missouri:


  • Naples facility – 179,791 net rentable square feet/1,209 units
  • Valrico facility – 68,319 net rentable square feet/716 units
  • Tallahassee facility – 121,699 net rentable square feet/801 units
  • Sebastian facility – 51,048 net rentable square feet/459 units
  • Lady Lake facility – 68,250 net rentable square feet/583 units
  • Panama City Beach facilities (2) – 128,725 net rentable square feet/1,161 units
  • Sarasota facilities (2) – 110,782 net rentable square feet/1,088 units


  • Lilburn facility – 66,140 net rentable square feet/468 units
  • Stockbridge facility – 31,825 net rentable square feet/276 units


  • Hesperia facilities (3) – 282,971 net rentable square feet/1,884 units
  • Lancaster facility – 71,361 net rentable square feet/601 units
  • Highland facility – 49,950 net rentable square feet/461 units
  • Rialto facility – 100,459 net rentable square feet/768 units
  • Thousand Palms facility – 110,246 net rentable square feet/640 units

Kentucky, Illinois, Nevada and Missouri

  • Louisville, KY, facility –  124,737 net rentable square feet/696 units
  • Crystal Lake, IL, facility – 58,100 net rentable square feet/517 units
  • Las Vegas, NV, facility – 73,485 net rentable square feet/719 units
  • St. Peter, MO, facility – 40,800 net rentable square feet/329 units
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Robert W. Baird Has Started Coverage on Sovran Self Storage (NYSE:SSS) Stock With “Outperform” Rating, $102 TP

Sovran Self Storage (NYSE:SSS) Price Target & New Coverage by Robert W. Baird

In a report released today, Robert W. Baird analysts began Sovran Self Storage (NYSE:SSS) coverage with “Outperform” rating, and a $102 target price.

After the coverage NYSE:SSS is at the moment trading -0.44% lower at $92.54 as of 11:40 New York time. Sovran Self Storage’s stock is up 25.85% over the last 200 days. It has outperformed the S&P500 Index, which has gained 7.43% over the same time.

Out of 9 analysts covering Sovran Self Storage, 7 rate it a Buy, 3 indicate a Hold while 0 suggest a Sell. The highest target is $106 and the lowest is $90 according to Thomson/First Call. The 12-month mean target is $100.22, which means upside potential of 8.30% over the current price.

NYSE:SSS Price Chart & Trend

The stock price of Sovran Self Storage has risen 25.85% over the last 200 days, and is in powerful up trend. In the last 50 and 100 days, Sovran Self Storage is up 5.21% and up 1.01%, respectively. Our stocks momentum model is shown on the price chart below.Robert W. Baird Has Started Coverage on Sovran Self Storage (NYSE:SSS) Stock With "Outperform" Rating, $102 TP

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

V3 Capital Management L.P. had the largest stake with ownership of 478,128 shares as of Q1 2015 for 8.25% of the US equity exposure. Keypoint Capital Management Llc is another notably bullish fund who is owning 26,397 shares of Sovran Self Storage or 3.75% of their US equity exposure. In addition, Harrison Street Securities Llc have 2.86% of their US equity exposure invested in the company for 82,878 shares. The Virginia-based fund Capital Management Corp Va revealed it had acquired a stake worth about 2.62% of the fund’s stock portfolio in Sovran Self Storage. The Texas-based fund Chilton Capital Management Llc is also positive about the stock, possessing 82,634 shares or 1.61% of their US equity exposure.

Insider Activity

Over the last 6 months, Sovran Self Storage NYSE:SSS has seen 5 buying transactions, and 7 insider sales. The net result was for 12 transactions, worth $2.82M.

Sovran Self Storage (NYSE:SSS) Profile

Sovran Self Storage, Inc. (Sovran) is a self-administered and self-managed real estate investment trust (REIT). The Company acquires, owns and manages self-storage properties. As of December 31, 2014, it held ownership interests in, leased, and/or managed 518 properties consisting of approximately 35.5 million net rentable square feet, situated in 25 states.

Sovran Self Storage (NYSE:SSS) traded down -0.44% on 23 July, hitting $92.54. A total of 37,776 shares of the company’s stock traded hands. This is down from average of 206,877 shares. Sovran Self Storage has a 52 week low of $73.59 and a 52 week high of $97.76. The company has a market cap of $3.29B and a P/E ratio of 33.23.

Get the latest Sovran Self Storage (NYSE:SSS) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

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JLL Negotiates Sale of NJ Self Storage Facility

CaptureHOUSTON, July 28, 2015JLL’s National Self Storage Team is proud to announce the sale of NJ Self Storage, a 35,025-square-foot self storage facility located at 2341 Route 70 in Manchester, New Jersey.  Phoenix-based
U-Haul purchased the property. The property was sold through by LNR, the special servicer, on behalf of the owner GECCMC 2002-2 Route 70, LLC.

Managing Directors Steve Mellon and Brian Somoza led the JLL team on the transaction.

“The property was previously underperforming leaving tremendous upside potential for the new owner,” said Mellon.

The facility is comprised of six single-story buildings consisting of 96 climate controlled units, 225 non-climate controlled units and six uncovered RV/surface units. The facility features secured gates with electronic access control, surveillance cameras, drive-up units, surface parking and a customer service office that sells moving supplies.

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