The five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc.—have announced when and how they will reveal their earnings statements for the third quarter of 2018, which ended Sept. 30.

CubeSmart

CubeSmart will release its third-quarter financial results after the market closes on Oct. 25. An accompanying conference call will be held at 11 a.m. ET on Oct. 26. A live webcast of the conference call will be available from the investor-relations page of CubeSmart.com. The dial-in numbers are 877.506.3281 for U.S. callers, 855.669.9657 for Canadian callers and 412.902.6677 for other international callers. To avoid delays in joining the call, participants can pre-register and receive a special dial-in number and PIN at http://dpregister.com/10124809.

After the live webcast, the call will remain available on the company website for 30 days. In addition, a telephonic replay of the call will be available through Nov. 26. The replay dial-in number is 877.344.7529 for domestic callers, 855.669.9658 for Canadian callers and 412.317.0088 for other international callers. The conference number is 10124809.

CubeSmart owns or manages 1,075 self-storage facilities across the United States. Its operating portfolio comprises more than 69.5 million square feet.

Extra Space Storage Inc.

Extra Space will release its earnings report after the market closes on Oct. 30. The REIT will host a conference call on Oct. 31, at 11 a.m. ET, to discuss its financial results. Hosting the call will be CEO Joe Margolis and Scott Stubbs, executive vice president and chief financial officer.

During the call, company officers will review performance, discuss recent events, and conduct a question-and-answer period for registered financial analysts. All other participants will have listen-only capability.

The phone number for the call is 855.791.2026 for U.S. callers and 631.485.4899 for international callers. The conference-call playback will be accessible at 855.859.2056 in the United States or 404.537.3406 internationally. It will be available until Nov. 5 at 4 p.m. E.T. The participant passcode for the live call and playback is 8497949.

The conference call will also be available on the investor-relations page of ExtraSpace.com. Those who wish to listen online should visit the website at least 15 minutes before the event start time to register and install any necessary audio software. A replay of the call will be available online for 30 days.

The full text of the earnings report and supplemental data will also be available on the company website immediately following the earnings release to the wire services.

Headquartered in Salt Lake City, Extra Space owns or operates more than 1,568 self-storage properties nationwide and in Puerto Rico. The company’s properties comprise approximately 1.09 million units and 119 million square feet of rentable space.

Life Storage Inc.

Life Storage will issue its quarterly results after the market closes on Oct. 31. The company will conduct a conference call to review the financial results on at 9 a.m. ET on Nov. 1.

The call can be accessed at 877.737.7051 within the United States or 201.689.8878 internationally. Participants can pre-register and receive a passcode and unique PIN at https://bit.ly/2IQSLq0. Management will accept questions from registered financial analysts after prepared remarks. All others are encouraged to listen to the call via webcast from the investor-relations page at LifeStorage.com.

The webcast will be archived for 90 days. A telephone replay will be available for 30 days after the meeting by calling 877.481.4010 and entering conference ID 38187.

Based in Buffalo, N.Y., Life Storage operates more than 700 self-storage facilities in 28 states, under the Life Storage and Uncle Bob's Self Storage brand names. Its portfolio of owned and managed facilities comprises about 49 million square feet.

National Storage Affiliates Trust (NSAT)

NSAT, a Maryland REIT, will reveal its earnings statement for the quarter that ended Sept. 30 after the market closes on Nov. 1. The company will conduct a conference call to review the financial results at 11 a.m. ET on Nov. 2.

The call can be accessed at 877.407.9711 within the United States or 412.902.1014 internationally. Management will accept questions from registered financial analysts after prepared remarks. All others are encouraged to listen to the call via webcast from the investor-relations page at NationalStorageAffiliates.com. A replay of the webcast will be archived for 30 days.

A telephone replay will be available by calling 877.660.6853 in the United States or 201.612.7415 internationally. The conference ID number is 13646795.

Headquartered in Greenwood, Colo., NSAT is a self-administered, self-managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. metropolitan statistical areas throughout the United States The company has 668 self-storage facilities in 34 states and Puerto Rico comprising approximately 42 million net rentable square feet. It's owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.

Public Storage

Public Storage will release its earnings report on Oct. 30. It will host a conference call on Oct. 31, at 1 p.m. ET, to discuss the financial results.

The dial-in numbers for the live conference call are 866.406.5408 for U.S. callers and 973.582.2770 for international callers. The conference ID is 6166156. The live webcast will be available through the investor-relations page of PublicStorage.com and accessible on demand through Nov. 14. For the conference-call replay, the domestic dial-in number is 800.585.8367, the international number is 404.537.3406, and the conference ID number is 6166156.

Based in Glendale, Calif., Public Storage has interests in 2,402 self-storage facilities in 38 states, with approximately 160 million net rentable square feet. Operating under the Shurgard brand name, the company also has 228 facilities in seven European countries, with approximately 12 million net rentable square feet.

Sources:
CubeSmart, CubeSmart Announces the Date of Its Third Quarter 2018 Earnings Release and Conference Call
Extra Space, Extra Space Storage Inc. Announces Date of Earnings Release and Conference Call to Discuss 3rd Quarter 2018 Results
Life Storage, Life Storage, Inc. Announces Date and Time of 3rd Quarter 2018 Earnings Release and Conference Call
National Storage Affiliates Trust, National Storage Affiliates Trust Announces 2018 Third Quarter Earnings Release and Conference Call
Public Storage, Public Storage to Release Third Quarter 2018 Earnings Results and Host Quarterly Conference Call

Real estate investment firm Cainbridge Investments LLC has opened CoolBox Self Storage in Hoover, Ala. The facility at 5215 Caldwell Mill Road comprises about 91,000 net rentable square feet in 771 units.

CoolBox features two large elevators, loading areas large enough to accommodate tractor-trailers, wide aisles, motion-sensor lighting and piped-in music. It also offers a “connections center” where local businesses can leave their business cards for customers seeking goods and services. Customers can use a move-in truck for free and purchase boxes and moving supplies in the retail center, according to a press release.

The facility also offers touchless entry. It’s Easy Code access system allows tenants to use their smartphones to automatically enter the property with a unique passcode, the release stated.

“When we began our site-selection process, it became evident that North Shelby County was the perfect spot to build a state-of-the-art climate-controlled facility,” said Philip Crane, a partner with Cainbridge. “We feel very fortunate to be part of the community and look forward to providing a great experience for all of our customers.”

Universal Storage Group (USG), a self-storage operator and third-party management firm, will oversee the property. “We have been given a top-notch storage facility to manage, and we could not be more proud,” said David Dixon, chief operating officer of USG. “The many access points for loading and unloading will allow our customers to save time and effort while they are moving into the facility. Moving companies also love our building because they can save time by being so close to their storage units.”

Based in Alabaster, Ala., Cainbridge specializes in real estate investment. It plans to open a second CoolBox location in the Birmingham, Ala., market in March 2019.

Based in Atlanta, USG owns or manages more than 60 self-storage facilities comprising more than 4.2 million net rentable square feet. It also has an office in Columbia, S.C.

Source:
AL.com, Keep Your Stuff Cool at CoolBox Self Storage

Self-storage real estate investment trust (REIT) and third-party management firm CubeSmart has transformed a portion of the Family Christian Center (FCC) in Gastonia, N.C., into 330 storage units, with the intent to convert the entire 10,000 square foot building once the church relocates. The property at 1005 Linwood Road was originally a Food Lion grocery store. The church acquired the 12-acre retail property in 2008 but is downsizing, according to the source.

CubeSmart currently occupies more than half of the structure. It is renovating parts of the exterior and interior. About half of the first-phase units have already been rented, according to facility manager Brittany Parker. The REIT acquired the property from FCC for $1.5 million, the source reported.

The church has 60 members and is expected to complete its move in the next few months. It acquired a commercial space at 181 W. Garrison Blvd., which most recently was the El Paisano Bar & Grill.

CubeSmart owns or manages 1,021 self-storage facilities across the United States. Its operating portfolio comprises 69.2 million square feet.

Source:
Gaston Gazette, Storage Business Taking Place of Church in Former Retail Strip

West Coast Self-Storage Group (WCSSG), which operates 55 facilities in California, Oregon and Washington, has hired Megan Swift as construction manager. In this role, Swift will negotiate, prepare and recommend construction contracts to senior management; work with design teams to review construction documents; assist with the building-permit process through jurisdictions; and manage the bid process with general contractors in addition to other duties, according to a press release.

Swift was previously employed with Wright Brothers, The Building Co. of Eagle, Idaho, as an assistant project manager. She worked on numerous self-storage projects in addition to government and commercial development projects.

“I’m excited to be working for a great company like West Coast Self-Storage. I was drawn to them by the quality of their storage facilities and their long-range vision for growing the company. I look forward to contributing my knowledge of the industry in helping to guide current and future development projects for them,” Swift said.

“The addition of Megan to our team will allow us to improve the oversight and day-to-day management of West Coast development projects,” added Steve Tangney, vice president of development. “Megan brings with her a great deal of project-management experience, and we are thrilled that she can lend her skills to help shepherd our new storage facility developments to completion.”

WCSSG is an acquisition, development and property-management company headquartered in Everett, Wash. Its portfolio of managed and owned properties includes 39 sites in Washington, nine in Oregon and seven in California.

 

Inside Self-Storage (ISS) has released its 2018 International Digital Issue, which includes in-depth articles about the growth, challenges and operation of self-storage businesses in Asia, Australia, Canada, Europe, Latin America and the United Kingdom. Written for facility owners, managers and investors, the articles include information about construction, development, industry trends and awareness, market challenges, operating performance, and more.

Covered topics include: 

• Evolution of the Canadian industry
• Australia’s ups and downs
• Asia’s growing pains
• The resilience of the Brazilian industry
• The fledgling Finnish market
• Self-storage emerging in India
• The young Italian market
• UK expansion

The publication is available for free download in PDF format.

For more than 27 years, ISS has provided informational resources for the self-storage industry. Its educational offerings include ISS magazine, the annual ISS World Expo, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.

The Jenkins Organization Inc. (TJO), a Houston-based developer and operator of 52 self-storage facilities in five states, has appointed Hailey Breeding to the new position of corporate trainer. Breeding will assume her role on Oct. 16. She joins the company from CubeSmart, a self-storage real estate investment trust and third-party management firm, where she served as field-training specialist and senior manager, according to a press release.

“Hailey brings a wealth of knowledge and experience to TJO, which we expect will elevate our training platform,” said Troy Sheppard, chief operating officer.

Earlier this year, the company hired Courtney Jenkins as director of marketing and promoted Nedra Price from area manager to district manager.

TJO also has been actively acquiring, developing and expanding properties in Texas, particularly the Austin and Dallas markets. Planned growth this year includes seven new developments, five expansions and three acquisitions.

Formed in 1989, TJO has an ownership and management portfolio comprising more than 3.5 million square feet of storage space in Louisiana, Minnesota, Missouri, Oklahoma and Texas.

Investigators searching for Susan Freehauf, an Oklahoma City resident who disappeared on Sept. 24, discovered several personal items belonging to her when they searched a unit at American Self Storage on Meridian Avenue. Court documents indicate police also uncovered multiple “blunt and edge” weapons, including clubs, hatchets and knives, inside the space, along with blood, hair, fingernails and several items that could have been used to clean a crime scene, according to the source.

Freehauf was reported missing by co-workers more than two weeks ago when she failed to show up to her job for two days. When police searched her apartment, they found several large blood stains in the living room. Investigators subsequently arrested Freehauf’s boyfriend, David Shores, in connection to her disappearance and possible murder, the source reported.

It’s not clear what initially led police to the self-storage facility. The report also didn’t indicate whether Freehauf or Shores was listed as the unit’s tenant.

Police believe Freehauf was likely murdered, though her body is still missing.

American Self Storage operates 22 locations in Oklahoma and one in Kansas. It has 10 facilities in Oklahoma City. Its family of companies includes 74th Street Self-Storage, Kickapoo Self-Storage and Shawnee Self-Storage.

Source:
News9, New Details Revealed in Case of Missing OKC Woman Presumed Dead

Update 10/10/18 – The Natchez Group has opened Northshore Self Storage in Chattanooga. The facility comprises 53,146 square feet of rentable storage space in 541 interior, climate-controlled units. It’ll serve the communities of North Chattanooga, Red Bank and Woodland Heights, according to a press release.

The property is near several businesses including The Ark Pet Spa & Hotel, the Chattanooga Bridge Center and PrintTree Printing & Signage. It’s also less than a mile from multi-family housing such as Douglas Heights Apartments.

A grand-opening celebration that’ll include facility tours and refreshments is in the planning stages. Event details will be posted on the company’s Facebook page.

The facility will be managed by Absolute Storage Management (ASM), a self-storage owner and property-management firm. Founded in 2002, ASM operates more than 100 properties in 15 states. Headquartered in Memphis, Tenn., it has regional offices in Atlanta; Charlotte, N.C.; Jackson, Miss.; and Nashville, Tenn.

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3/16/2017 – Self-storage developer The Natchez Group recently acquired a 2.5-acre lot in Chattanooga, Tenn., on which it intends to build a self-storage facility. Northside Self Storage will comprise 75,000 square feet in more than 600 units and sit at the rear of a mixed-use project with about 12,000 square feet of retail or other commercial space, according to the source.

The property at 1105 Dayton Blvd. is the former home of the Cherokee Motel. It’s in an area that has seen an increase in self-storage development due to residential growth in the vicinity, John Mitchum, a real estate broker with ReMax Renaissance Realtors, told the source.

Last week, the Natchez Group also finalized the purchase of Main Street Storage at the corner of Main and Carter Streets for $2.4 million, the source reported. The developer has been active in the state in recent weeks, including a planned three-story facility in Spring Hill and two other projects in Franklin and Nashville.

The Dayton Boulevard project is about a half-mile from a new self-storage development being constructed by Pratt Home Builders. The single-story facility is about three months from completion and will comprise 35,000 square feet in 266 units, according to the source.

The Natchez Group focuses on self-storage development and investments in Central Tennessee and the Southeast. In the past four years, the company has been involved in more than 500,000 square feet of self-storage projects.

Sources:

The Chattanoogan.com, New Self Storage Facility Opens on Dayton Boulevard
Nooga.com, Residential Growth Drives Demand for New Storage Facilities