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Articles from 2006 In June

ISS and Sentinel Systems Host Webinar on Self-Storage Security

Article-ISS and Sentinel Systems Host Webinar on Self-Storage Security

On July 27, Inside Self-Storage and Sentinel Systems will host a free, live webinar on self-storage security. Making a Statement With Site Security will take place from 11:30 a.m. to 12:30 p.m. ET. John Fogg, Sentinels general sales manager, will highlight essential aspects of industry security, addressing the array of choices storage operators face when selecting vendors, evaluating hardware and software, and arranging system installation. Attendees will learn about key relationships between the facility owner and builder and security vendors and installers. Theyll hear about the options available on the market today and how to budget for the most appropriate system. Finally, theyll get pointers regarding how to use site security as a marketing tool for their business.

Sentinel Systems provides property-management software and security-access systems for self-storage, including gate operators, individual door-alarm systems, camera packages and more. Visit www.sentinelsystems.com for more info.

For details about the July 27th security webinar and to register, visit www.insideselfstorage.com/webinars and click on the link for upcoming events.

ISS Blog

No good deed...

Article-No good deed...

Every spring, Inside Self-Storage compiles the data for its new annual Buyer's Guide and Top-Operators List, which gets published as the magazine's August issue. And every spring, we have companies thatfor whatever reasonmiss the boat on these free opportunities. Perhaps they never received the fax or e-mail invitation to participate; or their form got lost in the cybersphere; or the person responsible for handling these things was on vacation, sick, too busy, or baffled as to why he should care.


And this is fine. Except one thing never fails: After we go to print on this valuable resource, we are inevitably contacted by one or 100 companies that say, "How come I'm not in your guide? How come I'm not on your list?" Our response: Hmmmm. Good question! Why aren't you? It's tough to say. Thankfully, there's always next year!


We can even do one betterwell, on the Buyer's Guide anyway. If you are a provider of self-storage products or services, and you were not included in the 2006 print edition of the guide (subscribers, look for it in your mailbox over the next couple of weeks!), you can still be added to our wonderful web version, which is updated regularly. Simply fill out the online form.


If you're a self-storage owner, operator, developer or property-management company, and you're absent from the 2006 Top Operators-List, I'm sorry to say you're out of luck until next spring. The list is ranked by total square footage as provided by each participant, and our automatic database is not equipped to "reshuffle the deck" each time a new operator enters the scene. HOWEVER, you should also fill out an online form, providing company name, fax number and e-mail address. This will allow us to invite you for publication in next year's list.


So keep an eye out for the new 2006 edition, which will circulate to subscribers in the next few weeks! If you're antsy for Buyer's Guide info, our online version has already been updated. The new Top-Operators List will go live on August 1.


But please ... If you missed the boat this year or you find an error in your listing, don't blow your top and send some scathing e-mail. Our editorial team aims to please, and they will be happy to do what they can to assist you in rectifying the situation. Editor Kimberly Hundley can be reached at [email protected]; Managing Editor Drew Whitney can be reached at [email protected]. Be nice to them.

Mako Steel East Coast Office Relocates

Article-Mako Steel East Coast Office Relocates

Mako Steel Inc., which designs, supplies and installs self-storage buildings, including multistory, custom and boat/RV storage, has relocated its East Coast office. The new address is 1450 Flagler Ave., Suite 15, Jacksonville, FL 32207. The phone number is 904.306.9611 (toll-free 888.795.7594).
 
The company is also in the process of revamping its website, www.makosteel.com, to include greater interactivity and a larger photo gallery.

Sovran Acquires 20 Cornerstone Properties

Article-Sovran Acquires 20 Cornerstone Properties

Amherst, N.Y.-based real estate investment trust Sovran Self Storage Inc. acquired 20 properties from Cornerstone Development Corp. of Dallas for $90 million. The deal includes seven facilities in St. Louis, a new market for Sovran. Others are in Dallas, San Antonio, Tampa and Southeast Louisiana.

The company currently owns or operates 316 self-storage facilities in 22 states under the Uncle Bob's Self Storage brand name. The deal brought another 1.3 million square feet of rentable space to Sovran's existing portfolio of more than 19 million square feet.

"The Dallas, San Antonio and Tampa stores will fit in very well with the stores we already operate in those cities," said David Rogers, chief financial officer. "We are looking forward to introducing Uncle Bob's to the St. Louis area."

For more information, visit www.sovranss.com.

 

AFC Realty Capital Forms Finance Group

Article-AFC Realty Capital Forms Finance Group

AFC Realty Capital, which originates and executes real estate transactions on behalf of self-storage owners and developers, formed the AFC Self-Storage Finance Group to serve client demand. Paul Fried, an AFC principal who serves as president of the new group, said the sector is largely ignored by investment banks.

In its first transaction, the group arranged joint-venture equity and debt financing for a $94 million portfolio on behalf of the Veritas Group. The capital was used to purchase a 380,000-square-foot portfolio of newly built, institutional-grade self-storage in the Bronx, Brooklyn and Queens, N.Y. The funds include take out financing to acquire some future assets such as Wyckoff Self Storage, a 98,760-square-foot converted warehouse in Queens.

The senior mortgage financing was originated and placed by Fried with an investment bank. The balance of the financing came from an institutional equity partner that had not previously invested in the self-storage sector. These properties dont fit the standard profile for capital providers used to self-storage assets in suburban locales, says Fried. These are large facilities situated in high-density, urban infill sites. Many capital providers were hesitant.

For more information, visit www.afcrealtycapital.com.

ISS Blog

Drugs, bombs and deadbeat tenants who sue... Does it get any better than this?

Article-Drugs, bombs and deadbeat tenants who sue... Does it get any better than this?

When you work in self-storage, reading industry-related news is generally about as pleasant as having your teeth cleaned. Sure, we can blame the media for exploiting sensationalist events; but let's also accept the fact that storage attracts some scum.


Articles I've read over the past week serve to confirm this: a guy who set himself ablaze while cooking up meth in a storage unit in Mobile, Ala.; a military man who wants to sue a storage company for disposing of his uniforms after several months of non-payment; and bombs that were found and detonated by specialists at a facility in Pensacola, Fla. My, my, my. It's a wonder we have any kind of good name at all.

Reno Seminar Highlights Boat and RV Storage

Article-Reno Seminar Highlights Boat and RV Storage

Boat and RV Storage has become a popular ancillary service for self-storage operators across the country; but theres more to it than putting up some carports. Those interested in learning more about this niche opportunity can attend an informative session presented by Bob Hayworth during the upcoming Inside Self-Storage Reno Expo. The seminar will take place on Wednesday, July 19, 10:30-11:30 a.m.

According to Hayworth, there are four reasons to invest in boat and RV storage: easy construction, simple maintenance, an untapped market, and the rising popularity of RVs and boats. The return on investment can be greater than that of self-storage, since the building costs are less, he says.

Hayworth is the CEO of Baja Construction Inc., which has more than 30 years of experience in turnkey metal structures. The company's products include self-storage, carports, and RV and boat storage. For more information, call 800.366.9600; visit www.bajacarports.com.

For more information about the ISS Reno Expo, visit www.insideselfstorage.com/expo/reno.

Public Storage and Shurgard to Hold Shareholder Meetings

Article-Public Storage and Shurgard to Hold Shareholder Meetings

Public Storage Inc. and Shurgard Storage Centers Inc., which are heading toward an official merger, will host shareholder meetings on July 26th. Both events will be held at 9 a.m. PST. Shareholders of record as of close of business on June 23rd will be allowed to vote at their respective meetings.   

Glendale, Calif.-based Public Storage is a fully integrated, self-administered and self-managed real estate investment trust that acquires, develops, owns and operates self-storage facilities. It is a member of the S&P 500 and Forbes Global 2000. As of March 31, the company had interests in 1,508 storage facilities across 37 states with approximately 92 million net-rentable square feet. For more information, visit www.publicstorage.com.

Shurgard is a real estate investment trust headquartered in Seattle. It specializes in all aspects of the self-storage industry and operates a network of more than 656 storage centers throughout the United States and Europe. For more information, visit www.shurgard.com.

Sonne Group and SSE Merge Into Cushman & Wakefield

Article-Sonne Group and SSE Merge Into Cushman & Wakefield

The Sonne Group Inc., a real estate appraisal and consulting company, and Self Storage Economics (SSE), a division of Sonne Group that specializes in self-storage data, research, market reports, feasibility, valuation and consultation, will merge into Cushman & Wakefield (C&W) effective July 1. The company’s owner, Christian Sonne, has been named managing director within C&W’s Valuation Services, Self Storage Practice Group; and his entire staff will become part of the C&W team. All of Sonne Group’s office and contact information will remain the same.
 
The merger will allow C&W to significantly expand penetration into the self-storage market, with six SSE professionals completing appraisal reports and market studies for that segment nationwide. In addition, Sonne’s group will continue valuation services for commercial, industrial and residential (subdivision and apartment) property types.
 
C&W is one of the largest privately held real estate services firms in the world. Founded in 1917, it has 189 offices in 57 countries, and employs more than 11,000.
 
For more information, visit www.selfstorageeconomics.com.

MyNextDeal Creates Search Engine for Commercial Real Estate

Article-MyNextDeal Creates Search Engine for Commercial Real Estate

Thousand Oaks, Calif.-based MyNextDeal is preparing to launch the first search engine that deals exclusively with commercial real estate listings. Using powerful vertical search technology, the online tool will search hundreds of commercial real estate websites in real time, allowing industry professionals to see every opportunity available to them.
 
Instead of performing property searches on several, separate commercial-listing websites, people will need only search MyNextDeal to ensure they have a complete picture of property availability within the market, said Fred Simanek, co-founder. Since we gather listings from virtually every data source known for commercial real estate, our users will be able to find deals they may have otherwise overlooked.
 
Public release of the offering is planned for the fourth quarter of the year. For more information, call 800.788.9105; e-mail [email protected].

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