This short commercial from Wales-based self-storage operator Storage Giant is an ode to the days before “talkies.” The old-timey sketch follows a performer determined to obtain something hidden in a box behind a banner—that just happens to be a bit high.
Banner Storage Group LLC, a subsidiary of Banner Apartments LLC that buys, builds, finances and sells self-storage properties, is eyeing a former movie theater and adjacent carwash in Chicago for a potential self-storage conversion project. Called an “eyesore” by residents, the former Cineplex Odeon Cinemas could become a three-story storage facility, while the carwash would be demolished, according to the source.
The theater at 6385 N. McCormick Road has been vacant since it closed in 2005 due to a significant lease increase. Cheder Lubavitch Hebrew Day Schools purchased the property in 2008 with plans to construct a new school campus at the site. It later decided to build elsewhere and is now looking to sell the property, the source reported.
Following the school’s announcement to sell the building last spring, the Metropolitan Water Reclamation District (MWRD), which owns the 2-acre parking lot attached to the theater, agreed to transform the asphalt into a park with turf. Residents have also pressured the city and MWRD to fix up the property, as it attracts criminals and gang activity, according to the source. The theater has been vandalized despite the school’s attempts to secure it with heavy-duty metal barricades.
Additional changes for the park are on hold until development of the theater and carwash are finalized, the source reported. The North Shore Channel Trail, a lit walking path and bikeway, runs alongside the new park, behind the movie theater and parallel to the North Shore Channel, a drainage canal. The Chicago Park District has agreed to take over the lease for the new park, according to Allison Fore, an MWRD spokeswoman.
Although the city has had interest from a variety of developers since the theater closed, none of the plans have come to fruition. "We worked for the past 10 years with different scenarios of people having interest in developing something. It just has never quite made it to the finish line,” said David St. Pierre, executive director for MWRD.
School officials released renderings of the proposed self-storage facility in March. However, John Nikolich, Banner’s executive vice president, said it was “too early in the process” to discuss the development.
Banner Apartments is a real estate investment management business specializing in the ownership, development and management of multi-family properties. Founded in 1989, the company has ownership or management interest in more than 6,000 apartment units.
Banner Storage Group was formed in July 2013 to diversify Banner Apartments’ real estate holdings. The subsidiary is led by Gary Delaney, president, and Nikolich, who have more than 35 years of combined experience in the acquisition, development, disposition and financing of self-storage properties, portfolios and operating companies.
Inside Self-Storage (ISS) is now collecting data for its 2015 Top-Operators List, which identifies 100 of the self-storage industry's leading operators based on total net-rentable square footage. The list includes facility and brand owners, independents and property-management companies. The data also features the number of locations and units, expansion plans and contact information.
To participate, companies that have been published in a past list can log in to update their existing information. Operators who are new to the process can create a listing through the same Web page. Submissions must be complete by July 31.
The new Top-Operators List will be featured in the October 2015 issue of ISS magazine and published online on Sept. 15. Past lists are available for purchase in the ISS Store.
For nearly 25 years, ISS has provided informational resources to self-storage owners, managers, developers and investors. Its educational offerings include a monthly magazine, annual conferences and tradeshows, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.
OpenTech Alliance Inc., a Phoenix-based provider of self-serve kiosks, call-center services and other technology for self-storage businesses, has published a whitepaper examining use of industry technology in 2014. Titled “2015 Self-Service Technology,” the 21-page report contains statistics and trends with regard to kiosks, call centers and online transactions.
In examining INSOMNIAC kiosk use at self-storage facilities, it was learned that the product facilitated 39,919 unit rentals in 2014, with customers making 251,922 payments through the machines. The company’s 919 kiosks in service last year generated an average of 3.6 rentals per month (43 per year) per facility, equating to an average of $43,000 per facility in annual sales, according to the report. The top 100 performing kiosk properties had generally higher returns, averaging 15.1 move-ins per month (181 per year) and annual sales of $181,000.
The whitepaper also provides kiosk-use statistics for move-ins and payments by days of the week and time of day, and contains historical data showing kiosk use dating back to 2011. Similar statistics and analysis are provided on call-center use for reservations and payments, including a monthly breakdown between appointments, leads and support calls last year. Data for online rentals is also included.
The INSOMNIAC platform, which includes OpenTech’s call center, kiosks and online business solutions, accounted for more than 100,000 unit rentals last year, according to a company press release. Online reservations jumped 49 percent year over year, accounting for 2,876 rentals in 2014. An estimated $100 million in storage-operator revenue was attributed to the collective platform.
The whitepaper can be downloaded for free from the company website.
OpenTech provides several models of INSOMNIAC self-serve kiosks as well as a range of self-storage rental solutions including the INSOMNIAC Live! Call Center, INSOMNIAC Online Web and mobile applications, LiveAgent! software products, and the INSOMNIAC ILock Security System, all available through the company's self-storage cloud.
Real estate developer Bryant Properties has revived plans for a mixed-use project that includes self-storage, apartments and retail in an area of Sacramento, Calif., that has become a “redevelopment corridor” in recent months. The project, named for its address at 401 Broadway, will be built in two phases on a 1.36-acre lot that has been occasionally used for boat storage. It was put on hold during the recession but could break ground this fall, according to the source.
“We were bullish back in '07, and we’re even more so now,” said Eric Bryant, owner. “We just think the timing is great.”
Phase one will include a 120,000-square-foot, four-story building that will be constructed on the southeast corner of X and 3rd Streets. The ground floor will include a drive-through, with self-storage on one side and 5,000 square feet of retail space on the other. The upper floors will also be reserved for self-storage, the source reported.
Phase two will include a five-story, 53,000-square-foot mixed-use building that will be dedicated primarily to apartments. The original project called for 36 condominiums, but the revised plan will likely include 48 apartment units, depending on zoning requirements, Bryant told the source. This portion of the project will also include 5,300 square feet of first-floor retail space and 2,300 square feet of retail space reserved for the self-storage business. It’s not likely to break ground until the spring or summer of 2016, Bryant said.
By Pamela Alton
If you’re a self-storage manager, it doesn't matter how long you have been in the industry or how many companies you’ve worked for … a time may come when you’re ready to take on a new challenge and make a change. At that point, whatever the reason for the decision, you’ll need to be prepared. What exactly does that mean? This article contains practical advice for facility managers who want to land that “perfect” new position, addressing the employment file and resume, background checks, the job search, interviewing, and more.
First, create a file of your work history. Begin by gathering current and verifiable references from past employers—this means your supervisors or facility owners, not co-workers or tenants. Make sure the references are up-to-date with correct contact information such as phone numbers, addresses, etc.
To ensure you have good testimonials, always give proper notice before exiting a position and make sure you leave on good terms. One of the most important questions I ask when checking manager references is whether the employee would be eligible for re-hire—in other words, would the person work with the employee again? If the answer is no, I move on down the line. Know what your references are going to say about you. If you did an outstanding job (and you always should), you’ll have no problem with your recommendations.
Also, don’t be a "job skipper," someone who works a few months here and less than a year there. It costs a self-storage operation thousands of dollars to find and train a manager. You owe it to the company to stay a while and be a good employee. A job jumper may be perceived as a risky candidate and may have trouble getting good references.
On the other hand, some of the companies or facilities you work for may change hands in the future, so ask for a letter of recommendation when you first leave a position or when you learn of a potential sale. If a reference has passed away, try to get a letter of commendation from the person’s relatives.
Also put copies of any noteworthy recognition in your folder. This might be a certificate from a mystery-shopping company or a copy of a facility-summary report that shows how you did an outstanding job by increasing occupancy or reduced delinquency. If you’ve taken any adult-education classes, include evidence of course completion in the file. These might be college courses in management, marketing or sales, or industry-specific courses you took at a conference or online.
Most self-storage companies today require a background check before they’ll hire a manager. This might include a credit report or drug test. I recommend purchasing an independent check of your own background, for a couple of reasons. First, it will allow you to see what the employer would see and be prepared for any surprises. Second, it will show potential employers you’re prepared for and serious about the new position.
I’m not suggesting that you blindly send out a copy of your background check with your resume. You can simply mention it in your cover letter: “I have obtained my current background check and will provide that upon a personal interview.” The same goes for any other documents you’ve assembled in your employment file.
The cost to get a background check is minimal—usually around $30—and well worth the investment in your future. There are many places that offer this type of service. You can get a report through websites like peoplesmart.com and verifyme.com. Once you’ve obtained the report, check to make sure all the information is correct. You don’t want to be blindsided with inaccuracies, like criminal charges or tickets that don’t belong to you.
The next step in the process is to compile a professional resume. Remember, you only have 15 to 30 seconds to make an impression with this document. How the heck do you do that? By being brief.
I see a lot of resumes every day. Some are way too wordy, including paragraph after paragraph of job description. We all know what a storage manager’s job duties are. I want to see short phrases that highlight a candidate’s accomplishments, for example, “increased occupancy by X percentage,” “increased overall income by X amount,” or “reduced delinquency by X amount.” Use bullet points and be concise. Also use action words like “increased,” “reduced,” “trained,” “advanced,” etc.
Note the companies you worked for and the dates. Again, be brief. Also list your graduations from high school and any colleges or universities, as well as any degrees or certifications you’ve obtained.
Make sure your name, address, phone number and e-mail address are large and easy to read at the top of the document. Don't use hard-to-read fonts or include your photograph. A resume is not meant to “sell yourself,” it's intended to provide a snapshot of your job history and general information on why you’re qualified for the position.
Once your resume is complete, use your computer’s spellcheck and grammar feature. I can't believe how many resumes I see with misspellings and improper syntax. Read and re-read your resume, and have someone else read it as well. A second set of eyes never hurts.
Now that your file is complete, it's time to find that perfect job. Where do you start? There are many websites where you can post your resume. Some are free, some charge a fee. Industry trade publications such as “Inside Self-Storage” often list job postings. You can also look for listings in the “Job Fair” section of selfstoragetalk.com or use sites like monster.com, workingcouples.com or even craigslist. ISS publishes a “Top-Operators List” every year that contains contact information for 100 of the industry’s most successful companies. You can send your resume to their HR departments.
Network within our industry. Ask other facility managers about job opportunities with their companies. You can also ask your vendors, such as your software provider or retail-products supplier, if they know of anyone hiring.
Don't forget to let your current employer know you’re interested in moving up within the organization. Perhaps you want to relocate, move up from being a relief manager, or become an area or district manager. Your boss may never know this if you don't tell him.
Once you’ve put the word out that you are looking for a new position and obtained an interview, be ready for it. This means dressing professionally. I’ve had people show up at their interview in shorts, hoodies, soiled or torn clothing, etc. Really? And you want to be the first person customers see when they first interact with a storage facility?
You don't have to show up in a suit and tie, but being freshly showered and groomed and wearing clean, neat clothing goes a long way toward making a positive first impression. If you don't have a lot of money, you can go to a discount store for a new pair of pants, shirt or dress. Don't forget your shoes—they say a lot about a person. Keep in mind places like consignment or thrift shops. You can find top brands for just a few dollars and look like a million bucks.
Remember that an interview is a two-way street. The employer is vetting you and vice versa, so be prepared to ask your own questions. You want to know if this is the type of organization you’ll be proud to work for. Some things to ask about include:
If you like what you see and hear during the interview, let the employer know you’re interested by asking for the job. Once the interview is over, follow up. In today's electronic world, a hand written “thank you” note can go a long way in showing you understand what good customer service is. If you don't get hired right away, keep following up every so often to let the company know you’re still interested.
Now that you are fully prepared, get out there and land that job of your dreams!
Pamela Alton is the owner of Mini-Management Services, a nationwide self-storage manager placement service. She also conducts audits and inspections, manager training, and feasibility studies. For more information, call 321.890.2245; e-mail [email protected]; visit www.mini-management.com.
Two self-storage facilities in Johnson City, Tenn., recently donated free use of storage space to the Johnson City Police Department’s officer-support group, Support Wives and Girlfriends (SWAG), for its June 26 garage-sale fundraiser. 11-E Mini Storage at 104 Minga Drive and Springbrook Storage at 328 E. Springbrook Drive provided storage units for the six weeks leading up to the sale, which was held 8 a.m. to 1 p.m. at Wesley Memorial United Methodist Church.
The event raised $3,250, according to the SWAG Facebook page. All proceeds are being used to fund the organization’s annual “Shop With a Cop” holiday program, which takes place in December, according to Amber Keller, who helped organize the fundraiser.
“Shop With a Cop” pairs a police officer with a local child to go on a “shopping spree” during the winter holiday season. Each child receives an allotted amount to spend on clothing, holiday gifts, school supplies, shoes and other items. Kids also receive wrapped gifts to open on Christmas morning, Keller said. Several police departments nationwide host similar programs.
Last year, SWAG co-sponsored a joint yard sale with the Jonesborough Police Department to “learn the ropes,” Keller told the source. The proceeds enabled 80 children to have $150 each to purchase items for themselves and family members during the holidays. “It was a very humbling experience. The kids absolutely loved the one-on-one attention they got from the officers,” Keller said.
Formed in August 2013, SWAG has a mission is to support officers and their families, according to its Facebook page.
Locally owned and operated, 11-E Mini Storage provides 24-hour facility access, online billpay, outdoor vehicle parking, and moving and packing supplies. Security features include gated access, motion detectors and video cameras.
Opened in 2003, Springbrook Storage also offers 24-hour facility access, online billpay and outdoor vehicle parking. Its security features include lighting, perimeter fencing and video cameras.
A Lock-It Self Storage in Fort Mill, S.C., could expand through the addition of three new buildings. During a May planning-commission meeting, Chris Pettit, assistant planner, indicated the storage operator might put in a request for the expansion at 1399 E. Highway 60 this month, according to the source.
The first step would be to remove a berm the city required when the property was built to hide the metal buildings from view on Tom Hall Street, the source reported. “That was a big caveat in approving [the storage buildings],” Chris Wolf, planning commissioner, told the source.
The planning commission has requested a full site plan for the new buildings, which would be constructed of brick, before consenting to the berm’s removal. The building aesthetics will be a key component of approving the expansion, the source reported. “I think we’re going to be fairly particular,” said James Traynor planning-commission chairman.
If the expansion is approved, A Lock-It will start grading the site and put up a retaining wall, Pettit said.
Founded in 1997 by Joe and Mitch Clark, A Lock-It began with one facility comprised of four buildings in Pineville, N.C., then added its second location in Fort Mill. Both offer drive-up, climate-controlled storage as well as outdoor vehicle parking.
Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, has declared a second-quarter dividend of $0.35 per share, payable on July 15 to stockholders of record on July 6. The dividend represents an annual distribution rate of 7 percent, based on the company’s initial public offering price of $20 per share.
An ex-dividend date was set as June 29, according to a source. Jernigan Capital moved its date of record for the dividend back to July 6 after initially announcing it as July 1.
“We are off to a good start in deploying the capital we raised in the IPO, with several loans already closed and a robust pipeline with loans in various stages of completion,” said Dean Jernigan, CEO. “Our strong start has positioned us to commence the payment of a regular quarterly dividend for the first quarter after our IPO.”
The company’s IPO closed in April after offering 5 million shares. The firm expects to close on nine loans worth $48.8 million by the end of June, according to a recent filing with the Securities and Exchange Commission. Six of those loans are earmarked for self-storage developments. The company also has nine signed term sheets worth $81.3 million in development loans and another 11 outstanding term sheets worth nearly $98 million in development financing, according to the filing.
Jernigan Capital has drawn the interest of analysts at several financial companies, who recently assigned its stock an “outperform” rating and assigned a target share price of up to $26. Sam J. Jenkins, director at Jernigan Capital, recently purchased 2,000 shares on the open market at an average cost of $21.15 per share, according to a source.
Headquartered in Miami, Jernigan Capital provides loans in markets across the United States. Its senior staff has participated in more than $6 billion of self-storage transactions over the past 30 years. The company intends to be taxed as a real estate investment trust and is externally managed by JCap Advisors LLC, according to a press release.
Inside Self-Storage (ISS) has released a new podcast examining the three biggest legal mistakes made by self-storage operators. Part of the “Sounds of Storage” series, the eight-minute recording features an interview with industry attorney Scott Zucker, a partner with the law firm Weissmann Zucker Euster Morochnik P.C.
Zucker specializes in real estate and business litigation, representing self-storage owners and managers and serving as legal counsel to several state self-storage associations. During the interview, Zucker cautions operators to pay close attention to changes in state legislation. He also discusses the potential dangers surrounding lien sales and facility rental agreements.
Zucker has been a frequent speaker at the Inside Self-Storage World Expo, the industry’s largest conference and tradeshow, most recently presenting education sessions on fine-tuning rental agreements and managing storage auctions. Copies of these seminars, as well as other legal videos and webinars, are available for purchase through the ISS Store.
The Zucker podcast and other installments in the "Sounds of Storage" series may be accessed by visiting the ISS podcasts page.
For nearly 25 years, ISS has provided informational resources to self-storage owners, managers, developers and investors. Its educational offerings include a monthly magazine, annual conferences and tradeshows, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.
