Inside Self-Storage is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Sitemap

Articles from 2007 In January

ISS Extends Pre-Registration Rates for Las Vegas Expo

Article-ISS Extends Pre-Registration Rates for Las Vegas Expo

Inside Self-Storage has extended the deadline on pre-registration discount rates for its approaching Expo in Las Vegas, Feb. 20-23, 2007, at the Mandalay Bay Resort & Casino. Pre-registration savings of up to 25 percent are now good until Feb. 15th.

Attendees can choose from two registration packages: The Gold Package includes the Management Workshop, keynote presentation, educational seminars, vendor presentations, seminar workbook, expo-hall pass and cocktail reception. The Silver Package includes all the above minus the Management Workshop. Participants can also opt to attend the Management Workshop by itself or purchase an expo-only pass.

In addition, the show offers two special seminars tailored for developers and investors. Registration fees include a workbook, lunch, vendor presentations, an expo-hall pass and the cocktail reception. The Developers Seminar, 8 a.m. to 5 p.m. on Feb. 20, teaches the critical aspects of developing a facility, including site selection, feasibility, construction and site management. How to Invest in Self-Storage, 8 a.m. to noon on Feb. 22, covers the how to of purchasing an existing storage facility, performing due diligence, determining property condition, and price negotiation.

The Inside Self-Storage Las Vegas Expo is the industry's largest international conference and tradeshow. It is sponsored by ISS magazine, a monthly publication dedicated to the needs of storage owners, operators, managers, investors, developers and suppliers. For more information and to register, visit www.insideselfstorage.com/expo or call 866.230.2311.

ISS Blog

Mummy Dearest

Article-Mummy Dearest

What was last week's top self-storage story in the media? Yeah, total grotesquerie: a partially mummified baby found wrapped in newspaper and stuffed in a suitcase in a Florida storage unit. Just the kind of press we all relish, eh?


The scoop is a 46-year-old New Jersey woman flew to Florida to empty her recently deceased mother's unit and found a dead baby boy wrapped in the Jan. 9, 1957, edition of a New York area Daily News. The package was bundled in a suitcase inside yet another suitcase and surrounded by items such as rosary beads, a prayer card, and a photo of an unidentified little girl. Curiouser and curiouser. Investigators are suggesting this was a big family secret, because if the baby had been born on or near the date of the newspaper, the mother would have been unmarried.


So this is probably extremely inappropriate, but one of the first things I thought when I read this article online was how cool the suitcase wasone of those old-school cases covered in travel stickers, you know? If you can suspend thought of the morbid circumstances for just a moment, you might see what I mean:



Here's hoping this week's media parade includes something a little less macabre.

Grubb & Ellis Releases Global and Regional Real Estate Forecasts

Article-Grubb & Ellis Releases Global and Regional Real Estate Forecasts

Grubb & Ellis Co., a full-service commercial real estate firm, recently released its 2007 Global Real Estate Forecast, which indicates the U.S. commercial leasing markets should continue to improve as construction remains in check and the economy grows enough to fuel continued business and global trade expansion. The company believes stable interest and cap rates will keep the real estate investment market healthy. Summaries from the report include:

  • Businesses will use their record profits to add staff and lease more space in 2007. Landlords will have more negotiating leverage with tenants.
  • The expanding economy will keep supply chains humming in 2007, generating demand for all types of industrial space. Developers are expected to add 150 million square feet of new industrial space this year.
  • The housing market slowdown will have major implications for retailers in 2007.  First, homeowners will be less able to tap into their home equity via cash-back mortgage refinancing and equity loans. Second, retail development targeting new residential neighborhoods may be delayed until home construction and sales pick up.
  • The ongoing downturn in the housing market will be a boon for the multi-housing rental market in 2007. Landlords can look forward to a moderate rise in rental rates with the greatest risk being re-partmentsstalled condo conversion projects that are returning to rental inventory.

We expect the economy to find a middle ground between an outright recession and inflationary growththe elusive soft landingthereby striking a balance between the commercial real estate leasing and investment markets, said Robert Bach, senior vice president of research and client services.

Complete copies of the Grubb & Ellis global and regional forecasts are available at www.grubb-ellis.com.

ISS Blog

Going Solar and Braving the Cold

Article-Going Solar and Braving the Cold

On the coat tails of my last couple of blog posts, which addressed the issue of environmentally friendly building techniques for self-storage, I read a news item in the Novato (Calif.) Advance about a facility gone solar. North Bay Self Storage and Southpoint Lofts (a multi-use property containing storage and offices) has just completed the installation of a SolarCraft 35kW solar-electric system, which will meet 85 percent of the 78,000-square-foot building's electrical needs. According to the article, the system will pay for itself in approximately six yearsnot bad.


The facility's managing partners, Gary Arnstein and Robert Curtis, have indicated their choice in system is a "socially conscious statement," and their investors "have a commitment to using sustainable energy sources." Bravo! Arnstein specifically said "It's the right action to take given the environmental crisis that our planet is in the midst of." It gives me hope that a fraction of the population understands this.


Here are a few more fun facts about the solar-electric system, provided by the Novato Advance author:

  • The solar-energy system used by North Bay will enable the facility to produce enough electricity each day that it could power 10 average homes.
  • Over the course of a year, the functionality of the system will roughly equivalate the air-filtering capability of 7.6 acres of trees, preventing the dispersement of 60 tons of harmful greenhouse gases into the atmosphere.
  • The air pollution avoided as a result of the system over the next 30 years will approximate that produced by vehicles driving more than 4.1 million miles.


In separate but related news, a frozen pipe flooded units and damaged stored property at A-Plus Storage in Haverhill, Mass., this week. Tenants are obviously frustrated to hear the facility isn't liable.


I say this is related to the above information about solar energy for semi-obvious reasons: The more damage we do the planet, the more severe our climate will become. Bursting pipes is only the tip of the proverbial iceberg. It's an issue of great concern for the global community, not storage operators alone.


As an industry, we have a responsibility to do our share of caring for the environment; and "green" technologies are a way of fulfilling that commitment. Those of you building or remodeling facilities should consider this seriously when weighing costs against future outcomes.

U.K. Mogul Sells Armadillo Self Storage for $40M

Article-U.K. Mogul Sells Armadillo Self Storage for $40M

Entrepreneur Alister Jack sold his U.K.-based Armadillo Self Storage business for £40 million, the Business Sale Report of London reported today. He received 10 expressions of interest and six bids for the company before selling to the property and infrastructure arm of HSBC, one of the worlds largest international providers of banking and financial services.

Launched in 2003 and based in Edinburgh, Scotland, Armadillo has 10 branches in Scotland and North England. Its clients include multinational corporations such as Diageo and AON, as well as domestic customers and students.

In 2002, Jack sold sister company Aardvark Self Storage to Mentmore Spaces for £30 million. He has also negotiated the sale of his French storage business, Armadillo Self Stockage, but will retain Jenners Depository, which he purchased in February 2006. Jack now sets his sights on the startup of a third self-storage venture.

Self-Storage Featured at Bank of America REIT Summit

Article-Self-Storage Featured at Bank of America REIT Summit

The self-storage industry will be highlighted at the 2007 Out of the Box REIT Summit, hosted by Bank of America on Jan. 25th at the Le Parker Meridien Hotel in New York City. The 13 companies slated to participate in the conference comprise every publicly traded company in the self-storage and industrial REIT (real estate investment trust) sectors.

The event will involve sector-specific panel discussions, short formal presentations, in-depth question-and-answer sessions, and small group and one-on-one meetings. Presenters on behalf of the storage industry are:

  • Ronald Havner Jr., president/CEO, Public Storage Inc.
  • Dean Jernigan, CEO, U-Store-It Trust
  • David Rogers, CFO, Sovran Self Storage Inc.
  • Kenneth M. Wooley, chairman/CEO, Extra Space Storage

For more information, contact the Bank of America Corporate Events Department at 646.366.4880; e-mail [email protected]; visit www.bofa.com/corporateevents.

Interested parties can listen to a live webcast of the self-storage industry panel discussion and presentations by individual self-storage REITS by accessing the following web pages:

CBRE Hosts Property Tour at Inside Self-Storage Vegas Expo

Article-CBRE Hosts Property Tour at Inside Self-Storage Vegas Expo

Investors interested in viewing self-storage properties available in the Las Vegas market can participate in a free tour sponsored by CB Richard Ellis during the Inside Self-Storage Expo at Mandalay Bay Resort & Casino, Feb. 20-23, 2007. From 10 a.m. to 11:30 a.m. on Friday, CBRE will guide existing and potential storage investors and owners through one of the strongest real estate markets in the country.
 
In addition to seeing properties throughout the metropolitan area, participants will hear insights on development techniques and site selection from two local storage developers: Paul King of Storage West and Jim Meservey of Storage One.
 
The property tour that took place at last years ISS Vegas Expo booked solid, so early registration is recommended. To sign up, contact Nate Hunterton at 702.369.4813 or [email protected]. The event is restricted to attendees acting as principals in self-storage investing. Brokers can make arrangements through Hunterton to tour the properties at an alternate time.
 
Hunterton, along with CBRE associates Richard Howard and Ryan Howse, are part of the companys Self Storage Advisory Group, which represents self-storage owners and sellers in the western United States. For more information or a free property evaluation, visit www.cbre.com/ssag-lasvegas.
 
The ISS Vegas Expo is the self-storage industry s largest international conference and tradeshow. It is sponsored by Inside Self-Storage magazine, a monthly publication that has been dedicated to the needs of storage owners, operators, managers, investors, developers and suppliers for more than 16 years. For information and to register for the expo, visit www.insideselfstorage.com/expo.

Bader Co. Offers Self-Storage Hurricane Coverage

Article-Bader Co. Offers Self-Storage Hurricane Coverage

Indianapolis-based Bader Co., a provider of specialized insurance products for the self-storage industry, now offers Storm Tracker hurricane coverage for storage facilities, which provides relief when a named storm results in the closing of a property. This product was created by the national Self Storage Association and is marketed exclusively by Bader. The coverage is underwritten by Illinois Union (part of the ACE INA Group), which holds an A+ rating from A.M. Best.

Bader offers point-of-lease and pay-with-rent tenant insurance for self-storage and multifamily housing. For more information, call Chuck Slagle at 888.223.3726; visit www.baderco.com.

ISS Blog

Getting Greener

Article-Getting Greener

After Tuesday's post about "green" building in self-storage, I received an e-mail from a gentleman who is currently in the due-diligence phase of his first self-storage project. He shared with me that the reduction of operating costs is certainly a motivating factor in the process, but he also said, "doing my part to be a better steward of my share of the earth's resources if also a core value of mine."


He's been investigating solar building products by Uni-Solar (United Solar Ovonic) for his own facility, so I thought I would share some info in the blog. If you visit the company's website, www.uni-solar.com, you can read the success stories of projects that incorporate features such as photovoltaic laminates, which are reported to be easy to install on metal flat-panel roofing as well as resistant to any kind of weather.


In addition to environmental benefits of such products, there are often finanicial incentives. For example, Pioneer Elementary School in Brentwood, Calif., installed 330 Uni-Solar modules as well as 15 SunnyBoy inverters and a web-based performance-monitoring system. In turn, the school district received a hefty rebate from the local gas and electric company. So consider that possibility when you weigh the costs of your green building components.


If anyone else has a green product or experience to share, please post your comments to this blog or send me an e-mail at [email protected]. This is valuable info for developers of any kind of real estate.

 

Hawaii Self Storage Offers 2007 College Scholarship Program

Article-Hawaii Self Storage Offers 2007 College Scholarship Program

Hawaii Self Storage of Honolulu, owned by MW Group Ltd., is accepting applications for its annual college scholarship program. The company will award nine qualified O'ahu public high school students $1,000 scholarships, which are renewable annually for up to $4,000 toward their college education.

To participate, students must submit the required application form and essay to Hawaii Self Storage by Feb. 15, 2007. To qualify, they must be graduating seniors from one of the following high schools: 'Aiea, Farrington, Kaimuki, Kapolei, Mililani, Moanalua, Pearl City, Radford or Waipahu. Students must be accepted into or enrolled in a degree program at an accredited two- or four-year college or university and sustain a minimum of 12 credits per semester. To renew the scholarship, they must maintain a cumulative GPA of 3.0.

To download an application or view the photos and names of past recipients, visit www.hawaiiselfstorage.net/communitypride.asp.

Load More