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Articles from 2006 In December

Self Storage Promotions: Formed, Partnered, Ready to Serve

Article-Self Storage Promotions: Formed, Partnered, Ready to Serve

Revelation Media Networks Inc., an integrated marketing and communications firm, launched a new division titled Self Storage Promotions to serve the needs of industry developers and investors. The company provides services such as strategic counseling; public, media and community relations; corporate and crisis communications; marketing and advertising campaigns; web services; event management; branding; and video production.

The divisions president and creative director is Jennifer LeClaire, who has served the storage industry for more than five years through her writing, editing, public relations and graphic design. She has 15 years of media experience, having worked with such organizations as Universal Studios, the NBA, the New York Times and Associated Press.

In addition, Self Storage Promotions has formed a strategic alliance with Storage Marketing Solutions. SMS helps storage companies create and implement marketing campaigns and form strategic alliances with realtors, moving companies and other complementary businesses. Some of the companys offerings include targeted direct mail, Yellow Pages ad design, proactive referral systems and apartment-complex marketing.

Based in Hallandale Beach, Fla., Self Storage Promotions has already signed on two well-known industry clients: Coast-To-Coast Storage, a self-storage consultancy firm, and Marcus & Millichaps Mele Group, a self-storage brokerage.

For details, visit www.selfstoragepromotions.com.

For information about Storage Marketing Solutions, call 800.941.4805 or visit www.storagemarketingsolutions.com.

SIA and Beacon to Host Self-Storage Forum at ISS Vegas Expo

Article-SIA and Beacon to Host Self-Storage Forum at ISS Vegas Expo

Storage Investment Advisors (SIA) and Beacon Realty Capital will host a Self-Storage Forum, a semi-annual program in which industry leaders share insights about the real estate market, at the upcoming Inside Self-Storage Expo in Las Vegas. During this interactive session, finance and real estate experts will analyze key issues affecting property owners such as capital market and interest-rate trends, potential market threats, new perspectives on property-valuation methods, how institutional ownership growth affects properties and markets, and third-party management issues. The event will take place at the Mandalay Bay Resort & Casino on Wednesday, Feb. 21, 2007, 3:30 to 4:30 p.m.
 
The event will be moderated by John Sheehan, who is part of the analyst team at St. Louis-based A.G. Edwards & Sons. The panel speakers are:

  • Neal Gussis, principal, Beacon Realty Capital
  • John Nikolich, managing partner/founder, Flint Creek Partners
  • Aaron Swerdlin, managing partner, SIA
  • Ray Wilson, president, Charles R. Wilson & Associates

SIA, based in Houston, is an investment real estate services firm focused solely on self-storage. For more information, contact SIA Associate Partner Jennifer Munoz at 713.376.2038 or [email protected], or visit www.siallp.com.

The ISS Vegas Expo is the industrys 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.

ISS Blog

Insider Insight to Storage Condos

Article-Insider Insight to Storage Condos

After my recent blog entries regarding storage condos (storage units for sale rather than lease), I'm pleased to share with you the following thoughtful letter, written by Ted Deits. Ted is the president of 20 Seconds and Building, the developers of Eucalyptus at Beaumont (referenced in THIS POST from Dec. 8th). By the way, I still have yet to receive any feedback on this subject from self-storage operators. What's the mattercondo got your tongue?

****************** 

I read your blog entry regarding "storage condos" and the recent activity in that market. I am currently building 117 storage condos in Beaumont, Calif., geared toward the RV enthusiast.


I have been contacted by no less than 40 "developers" or wannabe developers in the last six months while I was in the initial planning stages. Most were people who liked the idea, but lacked the where-with-all to actually develop this product. You wouldn't think building 117 boxes would be all that difficult but, trust me, it is.


I have a blog of sorts on my website at www.rvstorage.biz/progress.html , which takes you through all I have been through for the last year. It has taken me five years to get to this point. I have been through 15 cities and 24 properties in Orange and L.A. Counties trying to get this concept off of the ground. Beaumont is the only city so far that has embraced this cutting-edge project.


Here in Orange County, our situation is unique in that we have an extreme shortage of RV storage. Property in this area is just too expensive to produce it. RV storage is not the highest and best use of land that is now costing upward from $60 per square foot. That equates to about $2.5 million an acre. Add another $10 a foot to improve the property, and you are getting close to $3 million an acre.


Added to the expense of raw land, we also have another crisis in the making. An old abandoned airport, the El Toro Marine base, was sold to developers in July 2005 (see www.rvstorage.biz/news.html ). There are 2,500 RVs stored on that property. It has been that way for years. Last I heard, the lease for RV storage will expire this June. Where are all those RVs going to go?


Many of the "mom and pop" RV-storage facilities are selling out. I can't blame them. If they have 5 acres of land, theyre sitting on upward from $10 million of a nest egg. They are cashing out. I don't blame them. I would too.


As far as this type of product (storage condos) competing with rental style facilities, yes, we are, but we're only capturing a small percentage of the market. Our units will be selling from the high 70s to 100s depending on the size of the unit. My typical buyer is someone between 55 and 65 years old, with a high-end motor coach typically costing more than 300K. While I am also marketing to the classic-car collector, I have only two out of the first 30 units I sold. Everyone else is an RVer. By the way, three are from Hawaii. Go figure.
 

Fivers and towables, which are dominating the market at the moment, are not suited for this type of facility; therefore, those clients will be the mainstay for the remaining rental facilities. For what it is worth, I released my first phase of 30 units and they sold out in two days. So the demand is there. I have proven it.
 

Ted Deits, President
20 Seconds and Building
Developers of Eucalyptus at Beaumont, A Private Storage Community
www.rvstorage.biz 

Canada's Stor Edge Self Storage Joins InStorage REIT

Article-Canada's Stor Edge Self Storage Joins InStorage REIT

Stor edge self storage, a provider of storage services in West Canada, announced it will become part of InStorage Real Estate Investment Trust, the only Canadian REIT focused exclusively on ownership and management of self-storage facilities. The transaction is expected to close on Feb. 15, subject to normal closing conditions.
 
InStorage is one of Canada's largest self-storage owners, with 24 properties owned or managed in Alberta and Ontario. The addition of Stor edge's 10 sites will solidify its position as the second largest self-storage company in the nation.

By becoming part of InStorage, we have achieved a major milestone, said Bill Roberts, vice president of Stor edge. This move facilitates our ability to grow and will take our business to the next level.

Stor edge was created in 2001 by Bill and Archie Roberts, with the first store opening in Calgary in September 2003. The company has consecutively won the Calgary Consumers' Choice Award for Business Excellence in 2004, 2005 and 2006. For details, visit www.storedge.com.
 
To learn more about InStorage REIT, visit www.instoragereit.ca.

ISS Blog

Happy, happy, joy, joy ...

Article-Happy, happy, joy, joy ...

For those of you who celebrate holidays other than X-mas, this weekend may be just like any other (with the exeption of the fact that your favorite places to shop and eat may be overrun with highly volatile customers or closed altogether). In any case, all of us here at Inside Self-Storage wish you a safe and joyful weekend. We'll get through next week and the New Year celebrations, and then things will go back to business as usual.


Enjoy. Count your blessings. And be kind and courteous to everyone, especially your fellow storage operators!

ISS Blog

Storage for Santa

Article-Storage for Santa

Papers all over the country this week have been running an Associated Press story about self-storage serving as salvation during a time of year when kids (and spouses) tend to snoop for holiday gifts. Some storage facilities, like Abbott Self-Storage in Nashville, Tenn., even run specials for times like these: "Santa's Closets - $1 a day 'Til Christmas." The storage facility at the end of my street flaunts a sign that says, "Hide your X-mas gifts here!"


What a fantastic way to bond with your community, spread a little cheer, and pack a little extra profit to boot! Keep this in mind for next year when you brainstorm holiday promotions. You can use the gift-hiding angle to attract a previously untapped market, or as an added perk for loyal tenants. Pair it with a "photograph with Santa" and hot-chocolate social for an event that will send your facility visibility up the chimney!


I thought it was particularly appropriate to mention this today, as it is Winter Solstice. To most, this means only that we're about to experience the longest night of the year. But to some, this day represents an ancient tradition of celebrating the return of light to the world. Can you believe that tomorrow is our first official step toward Spring? 

Weave a Web-Promotion Plan

Article-Weave a Web-Promotion Plan

The Internet can promote your self-storage facility to people you never had access to beforeand at a price that may surprise you.

Currently, 207 million Americans use the Internet69 percent of the U.S. population. Recent data reveals 86 percent of the web-savvy population uses it to research items they want to purchase. Considering the number of potential self-storage users on the web, marketing your facility via the Internet is plain good sense.
 
Web Presence

The first and most common way to achieve web presence is by designing a website. It could be a single page to display basic business information or a fully operational site that also allows tenants to rent units and make monthly installments.

Obviously, one is considerably more expensive than the other and many options exist between the two. Generally, a simple website design with a handful of pages costs a few hundred dollars with a monthly fee around $20. Option two, with added bells and whistles, runs into the thousands for development and design, plus hundreds each month for Internet hosting. Be sure you to ask about fees youll be charged by the web designer to make changes to website as well as recurring monthly costs.
 
Find a Designer

Ask local business owners for references and check the local Yellow Pages for web designers in your area. You might also inquire with your chamber of commerce.

If you want to be a little adventurous in your web design, contact your local school or college. Many actively support the business community and may have a student or group design a website for a special class or senior project. Teachers love to have students working on something with real-world applications. These assignments give students experience with deadlines, quality requirements and interaction with business owners.

It won't cost you anything, and you may be delighted with the quality of work. Motivated students invest more time working on web design because they enjoy the challenge and will be graded. If you dont like the design, scrap it or pay someone to tweak it.

All Things Being Equal

All computers are considered equal once connected to the Internet. The only difference is the connection speed between you and your service provider. Once youre online, no computer brand is given higher priority than any other.

Banner Ads

Another way to promote business on the web is to purchase banner space on popular websites in your market area. Graphics companies can design the banner for you, or you might try the local schools again. Contact the area newspaper or other websites for pricing and ad specifications.
 
Search Engines

Dont overlook the obvious: Its a sound plan to purchase ad space on search engines such as Google, Yahoo and MSN. Our company buys ads on all three search engines and has been pleased with the response.

Microsofts search engine allows you to fine-tune your target audience so youre not spending to advertise to people outside your area. A search engine ad works by displaying your banner or website when predetermined keywords are selected by the user. For instance, you can tell Google to display a small ad about your self-storage business when someone searches for Self Storage Pittsburgh Pa. Google bills you only when someone clicks on your banner.

Select restrictive search phases to keep your costs down and target customers with better accuracy. You can also cap the amount you want to spendonce the limit is reached, your ad is dropped from search results until the next month, giving you ultimate budget control.

The more you spend, the higher your ad will appear on the search-results page. However, if no one else bids for ad space on your particular search request, your ad will appear first in the resultsfor just pennies per click!
 

WWW History

The Internet went operational on Jan. 1, 1983, providing several protocols, but the World Wide Web was not one of them. What most people dont realize is the commonly seen Internet has only been in existence since 1991 and only publicly available since 1993.

Worthy Efforts

Advertising on the web may seem like a complicated process, but a little research goes a long way in understanding the process and, more important, the cost. Its a great means in which to market your self-storage business. Yet, the key to a successful marketing campaign is stretching your budget over the web, Yellow Pages, print ads and mailings. Maximize your exposure and youll be reaching just about everyone who might want to patronize your business.
 
Tredd Barton owns Tredd's Software Solutions, which has been developing self-storage software for the past nine years. His company recently released version 6.2.9 of its self-storage software and hired a new sales and marketing manager for its expanding business. For more information, call 724.484.7801; e-mail [email protected]; visit www.tredd.com.

MiniCo Self-Storage Opens Third Hong Kong Facility

Article-MiniCo Self-Storage Opens Third Hong Kong Facility

MiniCo Self-Storage, a division of MiniCo Inc., will celebrate the opening of its third Hong Kong facility on Jan. 20. The site, located in Kwun Tong, features American-style storage in a convenient location and offers extended access hours. According to the company, no other local facility provides the same level of cleanliness, security, accessibility and customer service.

MiniCo opened its first Hong Kong facility in Kowloon in June 2002. That site was recently relocated to the Kwun Tong Industrial Centre. The companys second facility opened its doors in Chai Wan in June 2005.

Self-storage has proven to be a concept that appeals to virtually all types of people in almost every country and culture, said Marilyn Leslie, president of MiniCo Asia Ltd. Storage in apartments and office spaces in Hong Kong is extremely limited, and we are providing a convenient, affordable storage solution for residential and commercial customers that is clean, private and secure.

Phoenix-based MiniCo, Inc. has provided specialty insurance programs, publications and other self-storage products and services since 1974. For more information, contact Darin Barney, director of marketing and communications, at [email protected] or 800.528.1056.

ISS Blog

Insurance Is the 'Key'

Article-Insurance Is the 'Key'

You hate to read about a storage facilityits owner and employees as well as tenantssuffering damage by natural disaster or vandals. But it's particularly difficult news to read this time of year, when you generally feel an onslaught of good will toward your fellow Man (unless you're in a shopping mall).


Just before Thanksgiving, a fire destroyed most of a 34-unit building at Allstore self-storage in Madison Township, Pa., leaving 30 tenants to pick through the remains of their valuables. According to the Dec. 17 edition of The Times-Tribune, the police suspect arson as the cause, but this wasn't the crux of the article. No, the headline was "Storage renters advised to buy insurance."


Writer Kris Fedysky uses the pieceand the Allstore exampleto advise storage users of three key steps when renting:


1. Find a facility with a security system.
2. Purchase a lock specially designed for storage.
3. Most important, insure the items stored.


All fine and reasonable points, and at least this wasn't an all-out assault on the facility owner, who obviously suffered losses of his own.


What I want to know is, what's with the sudden increase of fire-inspired vandalism at storage sites? This is beyond mischievious pranks. I hope the cops apprehend the villains. At the very least, I hope the yahoos get a lump of flaming coal in their stockings.

Exhibit Space Sold Out for Inside Self-Storage Vegas Expo

Article-Exhibit Space Sold Out for Inside Self-Storage Vegas Expo

Exhibit space for the Inside Self-Storage Las Vegas Expo, the industry's largest international conference and tradeshow, is officially sold out. The events coordinators are currently adding booths to accommodate a surplus of vendor requests. The expo will take place Feb. 20-23, 2007, at the Mandalay Bay Resort & Casino.

The ISS Vegas Expo attracts more than 4,000 participants from all over the globe. Event highlights include the ISS Golf Classic, Management Workshop, Developers' Seminar, "How to Invest in Self-Storage" seminar, Prime-Time Open Forum and more. Attendees can also attend educational seminars on a wide range of storage-related topics as well as multiple networking opportunities.

The expo is sponsored by Inside Self-Storage magazine, a monthly publication dedicated to the needs of storage owners, operators, managers, investors, developers and suppliers. The company has provided industry education and information for more than 16 years.

For general show information and a complete list of participating companies, visit www.insideselfstorage.com/expo. For specifics about exhibiting, contact Danica Cullins at 480.281.6713 or [email protected].

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