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Articles from 2008 In February

Extra Space Storage to Present at Citi 2008 Global Property CEO Conference

Article-Extra Space Storage to Present at Citi 2008 Global Property CEO Conference

Kenneth M. Woolley, chairman and CEO of Extra Space Storage Inc., will participate in a roundtable presentation at the Citi 2008 Global Property CEO Conference in Palm Beach, Fla., March 5, 10:25 a.m. EST. The presentation can be accessed via teleconference by calling 719.234.7878 and using passcode 567994. This will be a listen-only broadcast; no replay is available.
 
Extra Space, headquartered in Salt Lake City, is a real estate investment trust that owns or operates 651 self-storage properties in 33 states and Washington, D.C. Its facilities comprise approximately 47 million square feet of storage. The company is the second largest self-storage operator in the United States. For more information, visit www.extraspace.com.

ISS Blog

The Big Storage Wiki

Article-The Big Storage Wiki

So a gentleman by the name of Marc Goodin recently e-mailed our news center to let us know he had launched a new website to serve as a resource to self-storage owners: www.thebigwiki.com/self_storage_profits. "The big wiki?" I thought. What the heck is that?

Turns out it's a website that allows folks to launch web pages quickly and easily, without all the mumbo-jumbo of having to build them from scratch. There's an extremely diverse community using the site, in addition to our storage friend ... there's a person posting photos and info regarding German Shorthair Pointers, someone else sharing gardening tips, and yet another user highlighting Connecticut attractions. Then there's Marc, whose page includes information on self-storage site selection, design, approvals, construction, operations and marketing. He even has his own blog.

It's not a bad page, and he's got some excellent marketing ideas in his blog, such as seasonal giveaways for storage facilities. I won't give away his secrets here, since I'm sure he would rather you read them on his page directly. But I urge you to jump over and check it out. You just might learn a few new things!

SMD Software, ADS Partner to Provide Certified Mail Solution

Article-SMD Software, ADS Partner to Provide Certified Mail Solution

SMD Software Inc., maker of SiteLink software for self-storage and portable-storage management, has partnered with Accountable Document System (ADS) to provide its customers with improved Certified Mail processing and distribution solutions. The integration will allow users of SiteLink Web Edition to print labels, mail certified letters and retrieve return receipts over the Internet.
 
SMD boasts more than 7,500 software installations worldwide. For more information, visit www.smdsoftware.com. 

ADS is a web-based document-management company that has developed and patented the process of integrating United States Postal Service technology with PC Postage to create an efficient and effective method of managing Certified Mail. For details, visit www.accountabledocs.com.

ISS Blog

Your Opinion Counts

Article-Your Opinion Counts

Im back on my new favorite topic: the online forum, that fun, frisky format for discussion, debate and dialogue. (I also seem to be in an alliterative mood today.) Anyway, ISS would like to start a new section in the magazine including quotes and thoughts from you, the people in the trenches: facility owners, operators and managers. Wed like to feature this page in our domestic and international issues.
 
Im currently working on the ISS Canada supplement edition, and I posted some questions in the International Storage thread of Self-Storage Talk?a few too many, Im afraid. I should have clarified to our posters and lurkers that Im looking for a reply to any one of my questions, not necessarily all of em. So, how about sending in a reply? Awww cmon on! Send me your thoughts. Its a quick way to be heard, and your opinion really does count.
 
Here are questions. You can answer just one of them?or more if you like. You can post your comments to this blog, at Self-Storage Talk, or send them directly to me at [email protected].

  • What do you like most about being in self-storage?
  • How do you see the storage industry change over the past five years?
  • What has been the most significant improvement in the industry for you?
  • Do you plan to add a new facility (new-build or conversions) within the next two years?
  • Are you thinking of adding services (boat/RV, wine storage, records management, portable storage, etc.) to you facility in the next five years? What kind?
  • How many facilities do you think will exist in your area within the next five years?

Im looking forward to hearing from you!

Virgo Publishing Acquired by Arlington Capital Partners

Article-Virgo Publishing Acquired by Arlington Capital Partners

Virgo Publishing, parent company of Inside Self-Storage, has been acquired by Arlington Capital Partners, a Washington, D.C.-based private-equity fund with more than $1 billion of committed capital under management. 

Arlington Capital Partners is a middle-market private-equity firm focused on buyouts and recapitalizations in targeted growth industries in partnership with management. The firm leverages a combination of private equity and operating experience, as well as an extensive network of strategic contacts, enabling it to be a value-added partner and investor.

Arlington Partners is pleased to partner with CEO Jenny Bolton and the Virgo management team. The team at Virgo has built an extraordinary track record over the last 20 years, and we look forward to our partnership during the next phase of the companys growth, said Perry Steiner, a partner of Arlington Capital.  

Founded in 1986 and based in Phoenix, Virgo publishes 17 national trade magazines and produces 10 tradeshows and conferences across several industry groups including self-storage, natural products, healthcare, telecommunications and business solutions. The company has been successful in leveraging its category-leading events, publications and electronic media to provide integrated solutions to the markets it serves and will continue to focus on expansion through key, strategic acquisitions. 

Virgo has an accomplished and experienced management team and will continue to be led by President and CEO Jenny Bolton. The entire publishing, events and online organization will also remain intact.

We are very excited about our new relationship with Arlington Capital Partners. Their contacts, financial expertise and acquisition experience make them an invaluable partner during this time of accelerated growth for the company, said Bolton. Arlington brings a rich combination of operating and private equity experience that we believe will enable them to be a truly value-added investor.

For more information, visit www.vpico.com.

ISS Blog

Get in the Web Game

Article-Get in the Web Game

I recently wanted to learn more about a small company, so I did my usual Internet search. Nothing came up. I wasnt terribly surprised, knowing it to be a mom-and-pop operation, but then again, I was. If youre in the business of needing business, then why would you overlook one of the most advantageous means in which to reach customers? 

According to www.internetworldstats.com, America has more than 900 million Internet users. Is it possible just a few of those millions of users might be looking for self-storage in your neck of the woods? Its highly likely, especially if you consider that every month more than 67,000 consumers look for storage on the www.usstorage.com (a website designed for anyone to find self-storage throughout the country).

Ask other businesses in your area for referrals to a local website designer. Maybe inquire with your chamber of commerce or check the Yellow Pages for companies as well. Ask any candidates for references and samples of their work before selecting the designer that seems best suited to work with you.

Look at what other self-storage companies, big and small, have posted on the Internet for ideas on what to include on your own website, but dont overlook the essentials. According to the American Marketing Associations advice on designing a business website, a variety of information can be provided, depending on your goals. Here are some pieces youll definitely want to include:

  • "Who We Are and What We Do"
  • The company's mission statement and history
  • Contact information
  • Online product and service info with pictures, descriptions, and prices
  • Hours of operation
  • News about the company
  • Online account viewing and bill payment

Of course, online advertising isnt the only way to market your facility, but youre not doing yourself any favors by overlooking one of the most oft-used forms of shopping for self-storage by consumers. Get your head in the game and get your website on the Internet. You cant win if you dont play.

Mobile Mini to Merge With Mobile Storage Group

Article-Mobile Mini to Merge With Mobile Storage Group

Portable-storage providers Mobile Mini Inc. of Tempe, Ariz. and Mobile Storage Group Inc. of Glendale, Calif., have entered a definitive merger agreement. Under its terms, Mobile Storage Group will merge into Mobile Mini in a transaction valued at approximately $701.5 million. Upon completion of the merger, Mobile Mini will be positioned to cover most major portable-storage markets in the United States and United Kingdom. The transaction is expected to close as early as June 2008.
 
Pursuant to the merger, Mobile Mini will assume approximately $535 million in debt and acquire all outstanding shares of Mobile Storage Group for $12.5 million in cash and shares of newly issued Mobile Mini convertible preferred stock. Mobile Storage Group is majority owned by the private equity firm Welsh, Carson, Anderson & Stowe (WCAS), which, along with the other equity holders, will convert substantially all of its equity ownership of Mobile Storage Group into Mobile Mini preferred stock. As part of the transaction, two WCAS representatives will be elected to Mobile Minis board of directors.
 
The merged organization will include senior executives from both companies. Steve Bunger will serve as chairman, president and chief executive officer, and Larry Trachtenberg will continue as chief financial officer. Doug Waugaman, CEO of Mobile Storage Group, will join Mobile Mini as COO of integration, reporting directly to Bunger. Jody Miller, Bill Armstead and Ron Halchishak, senior executives at Mobile Storage Group, will also assume senior roles.
 
The merger will add 21 new U.S. locations and 14 U.K. locations to Mobile Minis operations. For more information, visit www.mobilemini.com.

ISS Blog

Tis the Tax Season

Article-Tis the Tax Season

With tax season in full swing, I thought Id share this article I came across on MSN.com. According to this piece, audits are on the rise. The IRS claims it audited 1.38 million taxpayers in 2007, up 7 percent from 1.29 million taxpayers in 2006.
 
Having never been audited, I can only imagine the stress and headache such an event entails. According to the article, the top reasons tax returns are flagged include sloppy returns and outrageousor at least unlikelydeductions. For example, a person who earns $50,000 a year and claims $10,000 in charitable contributions may seem suspicious.  The self-employed can also be easy targets, as are people who earn their paychecks through tips, such as servers or cabbies.

The article also offers tips on how to avoid an audit. First, get organized. I keep a file where I stash receipts throughout the year. This includes everything from doctors office visits to cash or clothing donations I make. While I admit Im not always the best at filing every scrap of paper, they generally all make it. Another tip: Plan ahead. So if, for example, you did make a large charitable donation or you paid more than the usual in medical expenses, be prepared to share that information.
 
For more on taxes, including a Q&A forum, check out MSNs home page on the subject.
 

Moving Service for Self-Storage

Article-Moving Service for Self-Storage

Coast-To-Coast Storage (C-2-C), a national self-storage consultancy firm, has entered into a tentative agreement with ABF U-Pack Moving of Fort Smith, Ark., to be the exclusive marketer of the U-Pack program to 50,000 U.S. self-storage operators. ABF will provide pickup, delivery and transportation of its trailers or ReloCubes (mobile-storage containers) to customers referred by self-storage operators participating in the program. The U-Pack website and call center will be the storage operators gateway to scheduling ReloCubes or trailers for customers. C-2-C will provide marketing and management support to storage operators offering this service. Those who participate in the program will receive revenue for referring moves to U-Pack. Info: www.askrk.com

PathMaster Composite LED Bollard

Article-PathMaster Composite LED Bollard

Chloride System's PathMaster Composite LED Bollard is an outdoor architectural fixture designed to provide energy-efficient illumination of walkways, decks, sidewalks and landscape areas for normal and emergency use. Incorporating LED technology, each light engine uses three high-performance, long-life, low-maintenance, white LEDs for illumination and can be applied from one to all four sides of the bollard to maximize path of egress. The bollard can be readily affixed by an anchor base, lag bolts or direct burial. The power system provides normal and emergency power support. The bollard is fabricated from fiberglass-reinforced polymers. All exposed hardware is stainless steel, and the light engines are constructed of die-cast aluminum. Standard finishes include black, bronze and white. Custom finishes are also available. Info: www.chloridesys.com

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