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ISS Blog

The Devil's in the Details

Article-The Devil's in the Details

Today's the day. Yeah, I know, yesterday was supposed to be the day. But today's the day. It really is true that the "Devil is in the details." Just try launching a new website, and you'll see. (I'm talking about the unveiling of the new Self-Storage Training Institute, of course.) So sit tight. It's just a matter of hours now! Then you can check out our new digs at www.selfstorageeducation.com.

 

ISS Blog

Friday Was Never So Good!

Article-Friday Was Never So Good!

As part of an Italian family, I was raised in the Catholic faith; and I certainly did my time: long years of catechism, communion, confirmation and confession (not to mention guilt, contrition, self-blame, self-doubt, confusiondid I mention guilt?) So I've earned the right be a little flip. Sunday is Easter, and good little lent-observers everywhere will be gorging themselves on whatever object of deprivation has obsessed them for the past six weeks. It's just too much.

 

It tickles me to think that on Sunday morning, children (and parents) all over this country will be indulging in marshmallow chicks, jelly beans and chocolate bunnies. People will be picking shreds of colored cellophane out of their cats' litter boxes for weeks. The egg-coloring, -hunting, -breaking and -eating fest has nearly begun. But will anyone ask the prevailaing question: What do any of these things have to do with Jesus?

 

OK, I know how precious these rituals are to some of our readers, so I'll stop myself before I offend. After all, I was once a follower too. But, for just five seconds, look at it from a symbological perspective ... Eggs, bunnies, and resurrection? Anyone? A connection? Ah, maybe that's too much for a Friday. Especailly GOOD Friday. And especially if you've been bereft of choco-loco-serotonin love. And super especially if you've been burning the midnight oil and you no longer know whether the Hello Kitty sticker on your keyboard is really talking to you, or you're just running a little low on REM.

 

So let's talk about self-storage for a moment. The last time I blogged, I mentioned we were doing our first "Legal Learning" webinar with Jeff Greenberger on Tuesday. That went really well. Attendance was, once again, short of registration, but we still had 80 bodies in attendance. Not bad for the first time out of the shoot. And participants were really ampedI've received more than 20 e-mails from people either complimenting us on the presentation or requestion additional information. I'm looking forward to the next event on May 9th (my birthday, by the way, in case anyone wants to send flowers or Fairytale Brownies).

 

The other big happening in our universe is the upcoming launch of the new Self-Storage Training Institute, our love/hate child. Love it, because it's so fresh and innovative and totally unlike anything Inside Self-Storage has offered before. Hate it, because raising the bar for an entire industry is no easy task! We're about to provide on-demand training and educational resources in a wholly new type of environment.

 

I'm not clear on the exact time of the unveiling, but it will be happening early next week, so make sure you investigate. If you've got your hands on a print copy of the May 2006 issue of the magazine, not only do you have a little sneak peek, you've got a coupon good for 10% off all products for the entire month.

 

So enjoy your weekend. Be a good little glutton. And then come around and see us at SSTI. We'll be there to follow-up your post-sugar crash with what you really crave ... top-notch information, of course!
 

ISS Adds New Investor Seminar to Reno Expo

Article-ISS Adds New Investor Seminar to Reno Expo

Inside Self-Storage and industry expert RK Kliebenstein will unveil a new offering at the upcoming expo in Reno, Nev., July 19-22: "How to Invest in Self-Storage: Acquisition Strategies." As a complement to the popular Developers' Seminar, the new half-day session was created especially for those wishing to purchase an existing storage business rather than build from the ground up. The session will be hosted by Kliebenstein, president of consultancy firm Coast-To-Coast Storage, along with other industry professionals. For more information and to register, visit www.insideselfstorage.com/expo.

Sonne to Speak as Keynote at ISS Reno Expo

Article-Sonne to Speak as Keynote at ISS Reno Expo

Chris Sonne, president of Self Storage Economics (SSE), will be the keynote speaker at the upcoming Inside Self-Storage Expo in Reno, Nev., July 19-22, addressing the the state of the storage industry. Sonne will present data regarding market trends and sub-market profiles to help attendees grasp present-day supply, demand and equilibrium. SSE has analyzed and forecast market conditions in all 50 states and the top 100 metropolitan markets. The company has also completed analyses on local trade areas, which are the best indicators for determining the competitive positions of specific projects.

For more information on the Reno Expo, visit www.insideselfstorage.com/expo. For more information about Sonne and SSE, visit www.selfstorageeconomics.com.

Canada's StorageMaxx Sold

Article-Canada's StorageMaxx Sold

Toronto-based Storage Now bought competitor StorageMaxx in what may be Canadas largest self-storage acquisition, according to Storage Now CEO Andrew Blair. The early-April purchase included seven StorageMaxx facilities: two in Greater Toronto; two in Alberta; and three in Saskatchewan.

With the four facilities we already have in Greater Toronto, we now have 11 properties across the country, making us one of the largest operators in Canada, Blair said.

Storage Nows goal is to become the dominate owner of high-quality self-storage in Canada. The company plans to buy existing facilities as well as develop them from the ground up, unlike StorageMaxx, which focused on acquisitions, Blair said. We are going to be a leading force in changing the quality and nature of Canadian self-storage, he said. I dont know of anyone that combines our ability to operate with an ability to develop and professionally manage with a retail orientation.

ISS Blog

Legal Learning

Article-Legal Learning

Tomorrow's a big day for us here at Inside Self-Storage, as it marks the inaugral event in our new webinar series, "Legal Learning With Jeffrey Greenberger." This new educational offering, to take place on the second Tuesday of every month, focuses on legal issues pertinent to today's self-storage operators. Each hour-long session will include a 30-minute seminar by Jeff, followed by 15-20 minutes of Q&A.

 

Tomorrow's topic? "Mediation and Arbitration Clauses in Self-Storage," which refers to sections in your self-storage rental agreement that can help protect you from litigation. Jeff will discuss how mediation differs from arbitration, the pros and cons of each, and how to make the most of certain lease provisions. He'll also share some stories about past clients who were saved by these clauses. Finally, make sure you come prepared to take notes, because Jeff will provide sample clauses you can use in your own contracts.

 

As of mid-day, we had nearly 200 attendees registered for this live event. I'm curious to see how many actually sign on when the show begins at 11:30 a.m. ET tomorrow.

 

Just a quick note: These webinars are currently free for all interested parties, but that won't always be true. We're keeping these events open for a three-month trial period, after which time you'll need to be a member of a participating state self-storage association to continue gratis. All others will have to to pay a fee (which has yet to be determined).

 

Why are we handling things this way? Well, the series is meant to be a valuable resource for those who manage to find their way to the ISS website; but it's also intended to encourage support of state associations. So starting in July, you'll want to check with your association administrator to see if you have free access to Legal Learning. The associations will distribute a special code to their members to ensure the free attendance.

 

As far as those operators whose states actually LACK an association (and there are only a few), I believe we'll be making an exception in their case. More details on this as I figure out the drill.

 

So, we hope to see you online tomorrow! It's not too late to register, by the way. Just go to www.insideselfstorage.com/webinars. After you complete the online form, you'll receive a confirmation e-mail with instructions on how to log into the event. A final bit of advice: If you've never attended a webinar before, give yourself a little extra time to sign in tomorrow, as you might need to download some things to your computer to participate. Until then ... Ciao!

 

Buchanan Storage Capital Opens D.C. Office

Article-Buchanan Storage Capital Opens D.C. Office

Buchanan Storage Capital (BSC), which arranges debt and equity for self-storage owners, has expanded its national platform with the opening of an East Coast location to complement its Atlanta office. The company opened its new Washington, D.C., site under Vice President Hugh Kreizenbeck, who is responsible for the origination of permanent debt and bridge-loan financing for clients in the Northeast and mid-Atlantic regions. For more information, call 800.675.1902; visit www.buchananstoragecapital.com.

U-Store-It President Resigns

Article-U-Store-It President Resigns

U-Store-It Trust, a self-storage real estate investment trust, announced the resignation of President and Chief Financial Officer Steven Osgood, who will leave to pursue other opportunities on April 20th. Tedd Towsley, vice president and treasurer, has been named interim CFO. The company will seek a permanent replacement.
 
"I have enjoyed working with Steve for the last 13 years, said Robert Amsdell, chairman and chief executive officer. He has been a valuable part of our success as we expanded our self-storage portfolio and generated strong sequential revenue growth. We wish Steve well with his future endeavors."
 
According to Osgood, "U-Store-It has a broad and experienced staff in its accounting and acquisition departments, which is well-equipped to handle this transition. I would like to thank my colleagues at U-Store-It for the opportunity to be part of the company's expansion."
 
For more information, visit www.u-store-it.com.

ISS Blog

Burning Both Ends

Article-Burning Both Ends

All right, I'll admit I've been dropping the ball on the blog this week. But you know how it is when you're burning the candle at both ends: The fun stuff is always the first to go. I'm just trying to do too many things at once. Oy vey. But I'll take some rambling action today and see where this post winds up.

 

The big thing on my plate right now is the Self-Storage Training Institute (SSTI). This is an an education portal launched by Inside Self-Storage several years ago but never quite got off the ground. It was originally designed by people who worked for our parent company but were unfamiliar with the industry. I won't bore you with insignificant details. Suffice it to say, between lack of staff and a magazine that keeps growing every year, the project just didn't get the attention it deserved. That is, until now. The old SSTI website is such an embarrassment ... ugh ... I can't even talk about it.

 

So with the change in my position along with an evolving self-storage business, the decision came that it was high time we got with the program (no pun intended). I've been working night and day with our web team (who are just real troopers, by the way) to design a new website and series of educational products to suit the needs of today's storage owners, operators and managers.

 

I won't say too much more about this right now because the official launch isn't until about April 15th (we hope). I will tell you that this new venture is really quite something. It'll be a work in progress, maybe indefinitely. But it'll fill a real need in this industry. We are constantly being contacted by self-storage professionalsexisting and rookieswho want to know where they can get training and education besides the bi-annual expos, which can be cost-prohibitive for some.

 

I also want to say a something about another educational service on the market, the new Self Storage Education Network, which was recently unveiled by industry experts Jim Chiswell (Chiswell & Associates LLC) and Mel Holsinger (Professional Self Storage Management). These guys have been huge supporters of ISS over the years, between article contributions, speaking engagements, advertising and postive word-of-mouth. In addition to colleagues, they've also been great friends to us. I can't say enough good things about them.

 

The process of revitalizing SSTI hasn't been easy, in part because it would entail competing on some level with SSEN. While our products are different, our aim is the same: to provide quality industry education in a variety of formats at affordable prices. In the end, we decided it was our duty to provide customers with the resources they've been requesting for so long.

 

But for the record: We don't view our relationship with SSEN as adversarial. In fact, we've had meetings with Jim and Mel, and we hope to find ways to work collaboratively in service to the industry. Our intention was never to go head-to-head with their new enterprise; and I believe we can meet different but compatible needs. So don't be surprised if you see SSEN being promoted in our magazine or on our website along with SSTI. Two unique companies, yes, but with a single (and singular) vision.

 

Gosh. And I didn't think I had much to say.

 

By the way, SSTI isn't the only thing keeping me busy these days. For one, it's Arizona Bike Week, and the weather has been oh-so-fine. I'm also assisting a friend with the launch of her ebay business, preparing the household for the introduction of two new kittens (see entry from 3.15.06, titled "Family Values"), and trying to design some fresh ink for this weekend's big event: the Valley of the Sun Tattoo Convention. Hot-cha!

 

Don't you just love spring time?

 

Ray Wilson to Present Overview of Reno Market at ISS Summer Expo

Article-Ray Wilson to Present Overview of Reno Market at ISS Summer Expo


Industry valuation expert Ray Wilson will present an overview of the Reno, Nev., self-storage market at the upcoming Inside Self-Storage Expo, July 19-22, at Reno Hilton Resort & Casino. Wilson will discuss recent sales/acquisition activity in the area and look at how current operators are performing. Highlights will include general market demographics as well as market and operating statistics: total facilities, total units, average facility size, unit occupancy, square feet per capita and more.

Wilson is an internationally recognized authority on the subject of self-storage investment analysis. He is president of Self Storage Data Services Inc. (SSDS), a research firm he started in 1992. SSDS maintains a nationwide database of operating statistics on several thousands of facilities, tracking trends in the nations top 50 Metropolitan Statistical Areas on a quarterly basis.

Wilson is also president of Charles R. Wilson & Associates Inc., which specializes in self-storage valuation. The company has valued more than $6 billion worth of self-storage since January 2000 and appraised more than 500 facilities in the past year. Wilson's speaking engagements have included numerous trips to Australia and Europe as well as regular appearances at conferences and tradeshows throughout the United States.

For more information about Wilson and his companies, visit www.ssdata.net. For more information about ISS expo and Wilson's upcoming presentation, visit www.insideselfstorage.com/expo.