Blue Mound Self Storage of Haslet, Texas, is offering a gift card for Watauga's Chef Point Cafe, a gourmet restaurant known for its steaks, seafood and bread pudding, to anyone who rents a 5-by-8 or larger storage unit in May.

The company gave away MP3 players with every rental during April. According to the facility's website, the company always has a "jaw-dropping move-in offer" and advises new tenants to ask about the special of the month.

Chef Point Cafe, owned by Paula Nwaeze, was featured on the Food Network’s "Diners, Drive-Ins and Dives" TV show in February.

Owned by Ron Sturgeon, Blue Mound Self Storage provides indoor and outdoor storage in North Fort Worth and surrounding communities.

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As part of its ongoing community outreach programs, Hawaii Self Storage (HSS) Thursday gave 160 first graders at Kapolei Elementary School in Hawaii a new copy of the book Oink? by Margie Palatini.

HSS began its Lockers for Literacy program in 2007 to promote literacy to elementary children. With every new locker rental, HSS donates $2 from its profit to this fund. HSS hopes to purchase more than $15,000 worth of books this year for 15 elementary schools.

“As a locally owned company, we have made it our mission to give back to the community," said Shaun Salvador, vice president. "Since we started the program, Lockers for Literacy has donated 2,650 new books to 13 elementary schools, in an effort to promote literacy. Thus far, we have given 700 new books to seven elementary schools this year. We hope the first graders of Kapolei Elementary get as much out of reading this book, which is theirs to keep, as Hawaii Self Storage does from donating it."

In addition to the Lockers for Literacy program, HSS also offers 12 scholarships to high school students, and owner Mike Wood donated $9.2 million of his own money to create Ho'omalu O Na Kamali'I, a safe haven for children on the Leeward side of Oahu.

HSS also offers a Transition Assistance Program and participates in numerous community-outreach efforts. The company invests $150,000 annually into its Community Pride programs, and has received numerous accolades, including being named a 2009 winner of the Inside Self-Storage Humanitarian Service Award.

Hawaii Self Storage is locally owned by MW Group Ltd., a Hawaii property developer and manager, with more than 15 properties on Oahu and Maui.

Source:  Honolulu Advertiser,  Hawaii Self Storage Delivers New Books to Kapolei School

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Police uncovered a stash of marijuana and mushrooms Sunday at a self-storage facility in Huntsville, Ala.

The discovery was made after a police officer noticed a suspicious vehicle parked outside an Uncle Bob’s Self Storage. According to police reports, while talking with the driver, the officer noted the smell of marijuana coming from Jesse Austin Smith, 22. The officer found a small amount of marijuana on Smith along with a large knife.
A search warrant for Smith’s storage unit was executed. Police found 7.2 pounds of hydroponic marijuana valued at $4,000 per pound, 1.2 pounds of psilocybin mushrooms valued at $4,000 per pound, several types of pills, one handgun, two shotguns and more than $2,300 in cash.

Smith was charged with trafficking marijuana, two counts of possession of a controlled substance and carrying a pistol without a permit.

Source:  The Huntsville Times,  Authorities Arrest Man After Drugs Found in Storage Unit

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Self-storage financial professionals Shawn R. Hill and Devin Huber, principals of The BSC Group, will present a free webinar on “CMBS Loan Workouts, Modifications and Maturity Extensions,” on June 9 at 2 p.m. ET. Focusing on commercial mortgage-backed securities, the online event will teach self-storage facility owners about maturity-date extensions, modifications, “white knight” and capital providers, new CMBS and other debt available.

Hill and Huber will be joined in their presentation by President and CEO Ann Hambly and Executive Vice President Todd Moore of 1st Service Solutions.
 
Hill will also participate in a panel discussion titled ”An Overview of Commercial-Property Financing and Self-Storage Funding Options” as part of the Inside Self-Storage World Expo in New Orleans, Sept. 29-Oct. 1. The session will focus on the impact of the capital markets on self-storage investments as well as the acquisition and disposition of self-storage properties. The ISS Expo is the self-storage industry’s most comprehensive conference and trade event. More information can be found at www.insideselfstorageworldexpo.com.
 
The BSC Group offers financial and loan advisory, mortgage brokerage, and workout solutions to commercial real estate property owners and investors with a special emphasis on the self-storage market. 1st Service Solutions was the country’s first firm dedicated to serving as a borrower advocate in loan restructuring and assumptions for CMBS borrowers. Combined, the two firms have secured more than $1 billion in financing for self-storage clients.

Webinar registration can be completed at Ministoragemessenger.com.

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Self Storage Hampshire, a new self-storage facility in Denville, N.J., will officially open on June 1 and celebrate a grand opening with the local chamber of commerce on July 24. During it’s grand-opening week, the facility will donate 100 percent of all first-month rent collected to St. Claire's Health System, Acute Pediatric Care.
 
The facility offers modern features such as Web-based reservations and payments, security cameras, digital gate systems and climate control. General Manager Kimberly Clayton said the company was very conscientious of the site’s appearance, making sure to create a project that would be aesthetically pleasing.
 
"We're very senistive to the fact that we're coming into this great community with a new building that residents drive by every day. Rather than make it something that sticks out like a sore thumb, we wanted to create something that residents would be proud to drive by with friends from out-of-town,” she said.
 
Self Storage Hampshire owns and operates 11 self-storage facilities in New Jersey and New York.

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Harvey E. Green, president and CEO of Marcus & Millichap Real Estate Investment Services, was featured on "Fox Business" on April 30, discussing signs of improvement in commercial real estate fundamentals and real estate sales activity. He also provided an overview of performance and an outlook by property type. A copy of the broadcast can be viewed at http://www.marcusmillichap.com/Video/fox_043010.asp. 
 
Marcus & Millichap is one of the largest investment real estate brokerage firms in the nation, with more than 1,300 real estate specialists in more than 70 offices. The company includes a National Self Storage Group that specializes in self-storage real estate transactions. 
 
Prior to his appointment as company president, Green served as chief operating officer since 1996. He was previously senior vice president, responsible for the firm’s nine Southwest offices. He joined Marcus & Millichap in 1981 as regional manager, responsible for opening the firm’s Encino office.
 
During his 37-year career, Green has initiated the close of real estate transactions valued at nearly $6.6 billion, including retail properties, office buildings and apartment complexes ranging in value from $1 million to $100 million. He has been involved in every aspect of the real estate industry, including development, commercial leasing, investment sales and firm acquisition. He also was responsible for the development and implementation of the firm's investment real estate training program.

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American Buildings Co. (ABC), a Eufaula, Ala.-based manufacturer and supplier of pre-engineered metal-building systems, named the winners of its 2010 Excellence in Design Awards, which includes a category for self-storage. For more than 10 years, ABC has recognized members of its network for their innovation and distinction in design from projects completed the previous year. The competition is open to all authorized builders of ABC and roofers of Architectural Metal Systems, a business unit of ABC. Winners are selected by a panel of impartial judges.

This year judges chose from more than 170 entries to select winners and honorable mentions in each of 14 building categories. Those nominees go on to compete for two top awards: Building of the Year and Roof of the Year. This year’s winners are: 

• Building of the Year: Mooney Farms, Chico, Calif., D. H. Slater & Son Inc. 
• Roof of the Year: Colony at the Grand, Fairhope, Ala., Dobson Sheet Metal & Roofing 
• Self-Storage Facility: Lock Up Kapiolani, Honolulu, Hawaii, SS-20 Building Systems Inc. 
• Green Building: Cowan’s of Rutherfordton, Rutherfordton, N.C., Atchley Construction Co. 
• Agricultural Facility: Cohutta Mountain Pet & Feed, Blue Ridge, Ga., Lusk Construction Inc. 
• Church/Religious Center: Cedar Creek Church, Whitehouse, Ohio, New Vision Construction Services 
• Commercial Facility: Swiss Chalet Best Western Hotel, Pecos, Texas, Watson Exports Inc. 
• Government/Institutional Facility: Apex Public Safety, B.D. Roberts Construction Inc., Apex, N.C. 
• Manufacturing/Industrial Facility: Fontaine International, Trussville, Ala., Goodgame Company Inc. 
• Office Facility: Mooney Farms, Chico, Calif., D.H. Slater & Sons Inc. 
• Recreation Facility: South Okanagan Events Centre, Penticton, B.C., Canada, Wheelwright Group Inc. 
• Retail Facility: Rona Home Centre, Nanaimo, B.C., Canada, LoadPath Industrial LLC
• Roof Retrofit: Barracks Upgrade Project Building #25425, Fort Gordon, Ga., Copper Construction Co. Inc.
• Roofing: Colony at the Grand, Fairhope, Ala., Dobson Sheet Metal & Roofing
• Transportation Facility: Jet Ranch Building 3, Carson City, Nev., Miles Construction
• Warehouse/Distribution Facility: The Supply Room Addition, Oxford, Ala., Morris Building Constructors Inc. 

 
ABC's "Building of the Year" (left) and "Roof of the Year" winners.

ABC has pioneered the design, manufacture and delivery of metal buildings and roofing systems for more than 50 years. The company has more than 800 authorized builders and manufacturing centers nationwide.

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As new facilities enter the increasingly competitive self-storage industry, it’s critical that older sites find ways to maintain their edge. Location, great curb appeal and excellent front-line staff are what all sites strive for, but sometimes more is needed to contend with modern facilities that offer all the bells and whistles.

While an older self-storage facility may be able to reduce rates and offer discounts in the short term, this tactic is a slippery slope that only serves to undercut your long-term success. It’s easy to get caught up in day-to-day activities and not notice your site is aging right under your nose. A serious look at your investment may show that it’s time for renovations. 

One Step at a Time

Rehabilitating an older facility can seem daunting, especially when a site has suffered years of neglect. Don’t be overwhelmed. Instead, break the process into three steps:

1. Evaluate your priorities. Not everything can be done at once. It took time for the facility to reach the condition it’s in, and it will take time to bring it back. First, focus on items that may impact the safety of tenants and staff or reduce future liability. Then determine which tasks can positively impact income, add value or increase the life of your asset.

2. Organize the finances. Since you’ll need additional resources to fund each project, collect bids and create a timeline to accomplish each item.

3. Manage the process. You’ll encounter some speed bumps and road blocks along the way. Count on the fact that it will take longer and cost more money than you had hoped. It’s a journey.

A Rehab Case Study

Here’s a case study of a self-storage facility in Hypoluxo, Fla., currently undergoing major renovations. Built in 1984, Hypoluxo Storage was constructed to the high standards of that time. It filled up fast and enjoyed occupancy in the 90-percent range, with good income for many years.

In the mid-’90s, the owner began experiencing health trouble and hired a manager. A combination of poor management, theft, a couple of bad hurricane seasons with insufficient insurance, and a downturn in the economy turned into the perfect storm. By 2009 the facility was badly neglected. Occupancy had dropped into the low 30-percent range, income had plummeted, and receivables were more than $50,000. It was then the owner realized drastic action was needed to make this a business viable again. He hired a Florida-based self-storage management company to take over the operation.

Upon completion of a site evaluation, it was determined that security should be a priority. A $5,000 access gate and $13,000 in security cameras were installed. A $3,500 railing was erected around the deck of the upstairs apartment.

The next problem to be a addressed was the open and failing septic system. A complete overhaul of the restrooms was accomplished at about $3,200.

 
The restroom at Hypoluxo Storage was rundown and nearly unusable. Restoration included new paint, sink, cabinets and toilet at a cost of $3,200.

While that was happening, 30 metal doors were replaced along with all interior and exterior lighting, at a cost of nearly $9,000. All interior hallways were repainted, covering any graffiti. A temporary Environmental Protection Agency permit was required to remove the hazardous-waste buildup. A 30-yard dumpster was filled, emptied and filled again several times as waste was removed from around the property and cleared out of vacant units.

The office also needed major restoration, including the relocation of the front door and the replacement of sign faces destroyed in a 2004 hurricane. Total cost for the office remodel was roughly $33,000. 

   
The facility’s sign was destroyed in a 2004 hurricane. The new sign is bright and includes the facility’s phone number.

Operation Overhaul

In addition to the physical renovation, the business operation was refurbished. When the management company took over, few of the tenants had leases and tenant ledgers were made manually in pencil. A computer system and property-management software was installed, including credit card capabilities and a tenant-insurance option. Proper forms and documents, including a new lease, were instituted.

While the staff became involved in the community and participated in chamber of commerce events, a marketing plan was implemented. Materials such as brochures, coupons and fliers were created, and a tenant-referral program was initiated. A website was built, offering tenants online payment and reservation capabilities. Although public sales for delinquent units are not yet back on track, all past-due tenants are on payment plans. 

With the monetary commitment from the owner and a lot of hard work from the management company and its staff, Hypoluxo Storage is making a comeback. Occupancy is now at 40 percent, on-time rent payments are increasing every month, and past-due accounts are being managed.

Moving Forward

The challenges have been many. This project has required the cooperation and assistance from everyone―staff, tenants, neighbors and government officials. The phrase “It takes a village” rings true at this location.

While the Hypoluxo facility is an extreme case, it took years for the facility to fall into such poor condition. It was an unfortunate combination of events and situations that lead to a downward spiral. It didn’t happen overnight, and the revival is a process that will continue to take time. This facility has a long way to go, but is well on its way to recovery and will once again be a strong business in the Florida community. 

Linnea Appleby is president of Sarasota, Fla.-based PDQ Management Solutions Inc., which specializes in the management of self-storage properties and offers complimentary services such as operational consulting, new-facility startup, property audits and the “Income Finder Service.”  Appleby is a regular contributor to industry trade publications and a frequent speaker at tradeshows and events. For more information, call 941.377.3451; e-mail [email protected]; visit www.pdqmanagementsolutions.com.

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A self-storage developer purchased a 5-acre parcel of land next to a shopping mall in Oklahoma City, Okla., to develop a 93,000-square-foot self-storage facility.

Mustang Self Storage LLC bought the land near Shepherd Mall for $444,000 from VTA Oklahoma City LLC. Mustang currently owns two other self-storage facilities in the area.

Construction on the facility, to be named Shepherd Self Storage, will begin in the next 60 to 90 days, said The Grant Group's Casey Massegee, who handled the transaction for the seller and buyer.

The facility will consist of 630 units built in two phases. The first phase will encompass about 30,000 square feet.

Source:  OKC Biz,  Shepherd Mall Owners Sell Land for $444,000 

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