Self Storage @ Centerra, a $5 million, 780-unit self-storage project deemed "upscale" by its developers, is slated for construction at the Centerra mixed-use retail, office and residential complex in Loveland, Colo. The recent $1.4 million sale of 8 acres at E. 37th Street and Rocky Mountain Avenue from developer and realtor McWhinney to Fort Collins, Colo.-based GreenTree Enterprises cleared the way for project planning to continue.

Ron Kuehl, McWhinney vice president of real estate, told the source construction on the 13 buildings is scheduled to start this month. Tom Beshore of GreenTree said leasing on the units will be available in June, and all construction should be completed in October.

The project has not been granted approval from the city, but the developers point to the facility's aesthetically pleasing design as helpful in getting support.

Beshore said the facility buildings won't look like the typical self-storage. They have pitched roofs, cupolas on them." The buildings will be constructed of decorative block and surrounded by decorative fencing and a locking gate. "It'll have a lot of curb appeal to it. That's kind of the mandate within Centerra," Beshore said.

Three climate-controlled buildings will house about 310 of the units, with the storage accessible from interior hallways, Beshore said. The units will be kept between 55 degrees and the low 80s.

One 12,000-square-foot building will be designed for commercial document storage. Beshore said access to those units will be allowed only in the presence of an employee. The rest of the units will be traditional self-storage. Beshore said the company will target commercial users, and rent will start at $60 a month and go up to $450. No outside vehicle storage will be available.

ezStorage Corp., a self-storage company with 45 facilities throughout Maryland, Virginia and Washington, D.C., is expanding with the addition of 40 units to its drive-through facility in Randallstown, Maryland. The new units, ranging from 25 to 300 square feet, will be climate-controlled and offer security features and amenities.

In addition to interior storage units, the Randallstown facility has exterior units with drive-up access. The expanded 731-unit facility is equipped with security features including computer-controlled gate and building access, unit-specific pass codes, 24-hour camera surveillance, and well-lit areas inside and outside the building.

ezStorage continues to grow not only in size, but also in quality and innovation, said Todd Manganaro, president. We know what our customers expect in terms of service, cleanliness and security. We continue to innovate and expand in order to meet and exceed their expectations.

Headquartered in Columbia, Md., and established in 1987, ezStorage operates 41,000 self-storage units.

The Amsdell family of companies acquired a self-storage facility in Oviedo, Fla. The facility, 2435 W. State Road 426, has more than 65,800 net rentable square feet. The storage center offers climate-controlled units, drive-up access and parking spaces. It also has truck rental and a retail store with boxes and packing supplies.

This storage center serves as a welcome addition to the growing Amsdell portfolio, with several existing locations throughout Florida, Michigan, Ohio and Pennsylvania. We are thrilled to expand our service area within the greater Orlando market and to continue to provide top-notch product and service to additional customers, said company president Todd Amsdell. We also look forward to getting further involved with the local business community.

The new facility is operated by Compass Self Storage LLC, a member of the Amsdell family of companies. Headquartered in Cleveland, the Amsdell Cos. draw its roots from the family-owned construction company founded in 1928. The company has since been active in several billions of dollars worth of real estate ventures with a primary focus in self-storage.

 

An ever-changing industry deserves a revolutionary platform of education. Thats just what youll find at the Inside Self-Storage World Expo in Las Vegas, March 14-16. This years biggest industry conference includes new speakers, innovative seminar topics, a special opening session, a slate of first-time exhibitors and so much more. Heres a sampling of just a few of the ISS Expo happenings you should attend.

What: A View From the Top: Self-Storage Leaders Discuss Operational Challenges in 2012
When: Wednesday, March 14, 8-8:50 a.m.
Why you should attend: Ever wonder if the large operators face the same challenges as smaller ones? Learn how todays top operators grapple with concessions, lagging occupancy, online marketing, industry consolidation and more at this insightful opening session.

Led by Jim Chiswell, president of Chiswell & Associates LLC, the panelists represent more than 100 million square feet of storage space and nearly a million rental units. Participants include:

• Cris Burnam, President and Chief Operating Officer, StorageMart
• Daniel "Skip" Elefante, President, Platinum Storage Group and Storage Direct
• Jack Rogers, Vice President of Business Development, Sovran Self Storage Inc.
• Carol Shipley, Vice President of Third-Party Management, CubeSmart
• Jim Stevens, Senior Vice President of Acquisitions and Strategic Partnerships, Extra Space Storage

What: Owner Executive Workshop
When: Friday, March 16, 1-4:30 p.m.
Why you should attend: Regardless if youre a new self-storage owner or a veteran, getting a fresh perspective on ways to manage your operation for optimal performance is good practice. Bob Copper, president of Self Storage 101, will lend his expertise to show owners how to take their business to the next level. Hell delve into numerous topics including providing better staff training, tracking your marketing, creating the best curb appeal, and increasing your assets overall value.   

What: Legal Q&A
When: Wednesday, March 14, 3-3:50 p.m.
Why you should attend: Confused about lien sales, rental-agreement revisions or other legal aspects of running a self-storage business? Get your questions answered by Jeffrey Greenberger, a partner with Katz Greenberger & Norton LLP and one the industrys leading legal advisors. The one-hour Q&A will cover some of the most common self-storage legal questions on operators minds.

What: Finance Symposium
When: Thursday, March 15, 8-9:50 a.m.
Why you should attend: Whether youre looking to finance a new facility, buy an existing one or refinance your current loan, get informed about todays lending options at this information-packed session. Led by the top finance experts in the industry, the two-hour session is split into three mini sessions on the various types of financing available today, and even includes an open Q&A.

What: The Great Debate: Mass Media vs. Web Marketing in Self-Storage
When: Wednesday, March 14, 11-11:50 a.m.
Why you should attend: For months, self-storage operators have debated on the ISS website which marketing channels truly offer the best results. Each outletonline or mass mediahas its champions. Now theyll present their arguments in a live debate. A panel of industry operators and vendors will discuss the effectiveness of Web marketing vs. radio and TV advertising to drive rental activity. Learn more about these advertising mediums and how to determine whats best for your market.

For more details on the above ISS Expo offerings and all the seminars, workshops, peer-to-peer networking events, exhibitors and more, visit www.insideselfstorageworldexpo.com.

The four publicly traded self-storage real estate investment trusts (REITs) released their fourth-quarter and overall operating results for 2011.

CubeSmart, Extra Space Storage Inc., Sovran Self Storage Inc. and Public Storage Inc. all showed strong revenue growth. Also, the REITs acquired in excess of $1 billion of properties in 2011 versus approximately $400 million the previous year, according to a report by MJ Partners Real Estate Services.

Glendale, Calif.-based Public Storage led the growth, reporting $164.2 million, or 0.96 per diluted common share. This was compared to $121.4 million in 2010. Revenue for same-store facilities increased by 5 percent compared to the same quarter in 2010, while net operating income increased 6.1 percent.

Public Storage acquired two properties in the fourth quarter, in California and Texas, for about $16 million. The purchases added 155,000 net rentable square feet to the companys portfolio. Overall, the company acquired about $500 million worth of properties for the year.  

Extra Space led the REITs in acquisitions in the fourth quarter, purchasing 28 properties for nearly $190 million. The REIT also increased its third-party management program to 185 properties.

The Salt Lake City-based company reported achieved funds from operations of $0.35 per diluted share, a 34.6 percent quarter-over-quarter growth compared to 2010. The company also increased same-store revenue by 5.8 percent and net operating income (NOI) by 9.3 percent compared to the same period in 2010.

We are intensely focused on the fundamentals that drive our business, said Spencer F. Kirk, Chairman and CEO of Extra Space Storage. Strong execution on the basics and continued innovation will drive our success and allow us to capitalize on an environment marked by higher occupancy, stronger pricing and limited supply."

Sovran Self Storage, which operates under the brand name Uncle Bobs Self Storage, reported net income available to common shareholders for the fourth quarter of 2011 was $10.3 million, or $0.37 per fully diluted share. The companys total revenue increased 16 percent over the same period in 2010.

The company, based in Buffalo, N.Y., reported stores with the strongest revenue impact include facilities in New England, New York and Tennessee. Facilities in Georgia and Virginia experienced modern declines. Sovran purchased 20 facilities comprising 1.6 million square feet from Lackland Self Storage in a joint venture with an affiliate of Heitman LLC.

CubeSmart, which underwent a name and brand change in late 2011, also displayed favorable operating  performance in the four quarter. "CubeSmart had an exceptional and productive 2011," noted CEO Dean Jernigan. "Not only did we produce healthy operational performance despite an uninspiring economic backdrop, but we also reached key strategic milestones as we executed on our investment and balance sheet objectives.

The company reported funds from operations per share of $0.17, and an increase in same-store revenue of 3.4 percent and NOI of 5.7 percent, compared to the fourth quarter of 2010. CubeSmart purchased 22 class-A self-storage facilities from Storage Deluxe for $560 million, and acquired two more assets in the Washington, D.C., market for $31.3 million during the fourth quarter. The company also sold one property in Michigan for $1.7 million.  

Overall, the self-storage REITs returned 35.4 percent in 2011, the strongest gain of any REIT sector for the second consecutive year, outpacing the 8 percent return of all REITs, MJ Partners reported. 

Panama City, Panama, is home to a new Red Box self-storage facility composed of climate-controlled and traditional units, as the facility recently hosted its grand opening.

Self-storage consultancy Better Management Systems LLC worked with the owner to create the design, layout, unit mix and office design. Janus International provided the hallways and doors. PTI Security Systems provided the individual alarms and access controls. SMD Software Inc. provided the property-management software.

Better Management Systems identified Panama City as one of Latin America's growing economies with potential for self-storage development. Based in Coral Gables, Fla., the company provides self-storage management services, feasibility studies, management consulting and assistance to first-time facility developers. It also provides guidance for new-facility startups, unit mix, site plans and marketing, and has clients throughout Central America, South America and Europe.

The LifeStorage self-storage facility of Mokena, Ill., is hosting a Girl Scout cookie sale from 10 a.m. to 3 p.m. on March 3 for local troops 346 and 475.

LifeStorage Mokena was approached by Troop Leader Camille Allen about the possibility to help raise funds for upcoming troop events, and store managers Kelly Butt and Megan Tolbert offered their facilities as a base of operations. To help spread the word, they e-mailed tenants, posted notices on the office reader board, and advertised in the Mokena Chamber of Commerce news and on the Mokena Patch.com page.

"I thought it'd be a nice opportunity to help the troops out by offering to keep cookie order sheets at the office," Tolbert said. "But then Camille suggested teaming up for an onsite sale, and the rest is history."

Megan and I were girl scouts, and we were both aware of the cookie sales and how the money each troop makes from the sales helps them to hold events and work on projects," Butt said. "We know the value in the organization for all girls, and the 100 years of the Scouts working with girls to provide them a group of friends and teach them about leadership and teamwork.

LifeStorage was founded in 2002 by owners Jean Jodoin and Christopher Barry. The operation currently has 17 locations in Chicago and its suburbs, with two more opening later this year.

StorageMart, a self-storage company with more than 130 locations across the United States and Canada, has partnered with the Roots n Blues n BBQ Festival, an annual weekend-long music festival held in downtown Columbia, Mo. The festival features national touring and local acts in the blues, roots, country, rockabilly and bluegrass music genres. This year's event will take place Sept. 21 and 22.

As a corporate partner, StorageMart will be sponsoring a variety of festival-related giveaways. The company will also be featuring songs form the album Got Love by Columbia, Mo.-based blues band The Bel Airs as its corporate on-hold music. The Bel Airs have been a staple of the mid-Missouri music scene for more than 30 years and have been a regular participant in the Roots n Blues Festival since its inception in 2007.

StorageMart also funds the StorageMart ScholarSmarts program, which annually awards $10,000 in educational scholarships.

Starting today, the call center operated by online self-storage directory USstoragesearch.com will be open around the clock, seven days per week. There will be no changes for existing directory members except that their incoming calls will now be answered 24/7.

Consumers are no longer shopping 9 to 5 for self-storage. We see significant Web and phone traffic at all times of the day, so expanding our hours to help customers when they are actively searching for storage just made sense," said Brian Bremer, director of call-center operations.

USstoragesearch.com is the only independent self-storage directory that has its own internal call center. It answers phone calls for approximately half of its member base, including calls generated from directory listings as well as after-hours calls, rollover (unanswered) calls, and calls from other marketing sources, such as the USstoragesearch.com Self Storage Network, which includes dozens of partner websites.

The call center works on a pay-per-performance model, so self-storage operators only pay a fee when the call center provides them with a unit reservation secured with a credit card deposit. These reservations convert to self-storage move-ins approximately 90 percent of the time, according to Mike Jones, vice president of operations for USstoragesearch.com.  

Not all of our call-center customers use all of the services we offer, said Jones. They choose which calls are answered by our call center.

Established in 2004, USstoragesearch.com has more over 18,000 member facilities. Consumers can use the directory to search available self-storage units by facility location, unit size, property features and specialsall in real time.

Police have released surveillance video of a robbery at a Brooklyn, N.Y., self-storage facility, where as many as six suspects held a security guard at gunpoint while stealing from storage units. The incident occurred at iStore Green, 12 Hall St., from 5:30 p.m. on Feb. 25 until 1:30 a.m. on Feb. 26, when the guard was finally released.

The video shows the suspects removing boxes from three floors of the storage facility while detaining the security guard. The guard told police he didn't know what was in the boxes. The video can be viewed at http://fortgreene.patch.com/articles/police-release-footage-in-self-storage-stick-up.

According to the facility website, iStore Green has a double-lock system to go along with its cameras and 24/7 security sentinel.

Police encourage anyone with information about the robbery to call Crime Stoppers at 800.577.8477 or visit nypdcrimestoppers.com. Informants can text tips to 274637 and should include "TIP577."

iStore Green is an independent self-storage facility with an emphasis on environmental sustainability. It is the first self-storage facility in New York City to participate in the EPAs Green Power Partnership, using 100 percent certified renewable energy. Converted from a 1908 warehouse, iStore Green uses a solar water heater, and its benches, desks and shelving are all made from reclaimed wood. The company engages in numerous recycling efforts and works to educate customers about green living.