Executives from self-storage real estate investment trusts (REITs) CubeSmart, Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc. will give company presentations during REITWeek 2015, the investor forum for the National Association of Real Estate Investment Trusts (NAREIT). REITWeek will run June 9-11 at the New York Hilton Midtown hotel in New York City.

Executives from the self-storage firms will join management teams from more than 200 industry REITs as they outline their companies’ strategies in formal investor presentations. REITWeek is attended by pre-qualified investment managers, analysts, bankers and other industry professionals, according to NAREIT.

All four REITs will present for 30 minutes on June 9. Extra Space Storage will be first to speak from 10:15 to 10:45 a.m. ET, followed by Public Storage at 11:45 a.m., Sovran at 2:15 p.m. and CubeSmart at 3 p.m.

The presentations by Public Storage and Sovran will be available online via live, listen-only webcasts on REITStream.com. CubeSmart and Extra Space Storage are not listed among the scheduled webcasts.

In addition to the live webcast, the Public Storage presentation will be available from the investor-relations section of the company website. An audio archive of the webcast will be available through June 22. Similarly, when David Rogers speaks, his presentation will be available by visiting the investor-relations section on the Sovran website, where it will be archived for 90 days.

The conference will also feature special events during lunch general sessions on June 9 and 10. Tuesday’s opening lunch session will feature a panel discussion moderated by David Neithercut, president and CEO of Equity Residential. Wednesday will feature a networking lunch from 11:30 a.m. to 1:30 p.m. On June 11, Larry Kudlow, host of CNBC’s “The Larry Kudlow Show,” will present a breakfast keynote from 8 to 10 a.m.

NAREIT describes itself, as “the worldwide representative voice for REITs and publicly traded real estate companies with an interest in U.S. real estate and capital markets.” REITWeek is designed to bring a large concentration of REIT management teams into one location, enabling them to share insights and their latest company developments. More information can be found at REIT.com.

Global market-research firm Ipsos Business Consulting recently released the inaugural “Self Storage Association Asia (SSAA) Annual Survey.” The report was commissioned by the association and identifies trends related to average occupancy rate and market penetration in the Hong Kong, Japan and Singapore self-storage markets. It also examines market development in China, Malaysia, Philippines, Taiwan and Thailand. The survey measures responses from 1,500 self-storage customers and 30 operators, according to an Ipsos press release.

“This is the first such survey that we have conducted, and it is an important benchmark in the association’s ongoing efforts to support growth across the Asia-Pacific [region],” said Luigi La Tona, executive director of the SSAA.

Of the three primary markets examined for performance data, Hong Kong leads with 23 percent penetration, compared to 15 percent in Singapore and just 2 percent in Japan. Hong Kong also leads in average occupancy rate (90 percent), followed by Japan (85 percent) and Singapore (70 percent). One reason for low market penetration in Japan is a “challenge to overcome consumer misconceptions about the cost of self-storage,” according to the release.

“Our research covering the three core markets of Japan, Hong Kong and Singapore and the emerging markets of China, Taiwan, Philippines, Malaysia and Thailand show that the self-storage industry in these countries is just starting to establish itself and has exciting growth prospects ranging from high single-digit growth to upwards of 20 percent depending on the country and the market,” said Markus Scherer, head of the Ipsos Hong Kong office. “This is truly an exciting time for the self-storage industry in Asia Pacific.”

The findings were first released during the recent Self Storage Expo Asia 2015 in Tokyo. The annual survey is available for free to SSAA members through the association website.

Launched last year, SSAA is a trade association dedicated to assisting self-storage operators and industry suppliers working in emerging markets along the Pacific Rim.

Founded in 1994, Ipsos has offices in 84 countries. It offers marketing-research expertise in the areas of advertising, customer loyalty, marketing, media, public affairs and survey management.

Hawthorne Residential Partners (HRP), a co-owner of the Go Store It self-storage brand, has acquired two properties in Wilmington, N.C., for $12 million from StoreSmart Self Storage, which operates more than 20 facilities in six states. The properties at 5811 and 9121 Market St. will be rebranded under the Go Store It name, according to Phil Payonk, HRP’s chief investments officer.

The company plans to add amenities to the properties, including coffee bars and free use of a moving truck for tenants. “We want to see what our tenants demand and then react to it with improvements,” Payonk told the source.

The Wilmington market is experiencing population growth. “They're finally starting to see a little bit of job growth, and we really like the U.S. 17-Market Street corridor,” Payonk said.

Another real estate developer has proposed to build a new self-storage facility along a separate section of Market Street, between the two intersections of Alexander Road, the source reported. The project would require zoning approval from New Hanover County city officials, according to a letter sent to adjacent property owners from Cindee Wolf, owner of Design Solutions, a Wilmington-based land-planning and development-entitlement consulting firm. The proposal calls for four climate-controlled storage buildings and a two-story office. The developer is hosting an open-house meeting to discuss the project today at Ogden Park.

Based in Greensboro, N.C., HRP manages apartment properties in the mid-Atlantic and Southeast for third-party clients, institutional investors, lenders and private-investment groups.

StoreSmart operates storage facilities in Arkansas, Florida, Georgia, Illinois, North Carolina and South Carolina. Its locations are managed by its affiliated property-management company, Reliant Real Estate Management LLC.

Metro Storage LLC, which operates more than 100 self-storage facilities in 11 states, has purchased Pond Road Self Storage in Oakdale, N.Y., on Long Island. Metro now operates three storage properties in the state and is developing a fourth in Brooklyn, N.Y.

The property at 4038 Sunrise Highway encompasses 45,200 rentable square feet of storage space in 417 units. It features four single-story buildings as well as a two-story office. The facility offers climate control, drive-up access, gated access, outdoor parking, Penske truck-rental services and video cameras.

“The addition of this facility will broaden the Metro Self Storage footprint in the market and enable us to better leverage our brand in the New York area,” said Matt Nagel, chairman.

Metro purchased Willow Grove Self Storage in the Philadelphia suburb of Willow Grove, Pa., last month, and three other storage facilities in North Philadelphia suburbs for $29 million in April. It’s also building several new properties and converting existing structures to storage in Florida, Illinois and New Jersey.

Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the acquisition, development and management of self-storage facilities nationwide.

By DCS Industries LLC

When it comes to maintaining a self-storage facility, there’s a certain advantage to devoting time, attention and action toward mitigating the effects of wear and tear on the property. This is particularly true for the wrought-iron fence, which is an essential part of a facility’s security system. Maintenance is necessary to prevent decay and promote durability and beauty.

Following are several key ways to care for a wrought-iron fence throughout its lifetime and stave off inevitable deterioration. These tips will keep your fence looking better longer while safeguarding your investment.

Maintenance and Repairs

Washing your wrought-iron fence with warm soapy water at least once every few months is a great way to remove the buildup of dirt, grime and dust that comes with continued exposure to weather and the elements. If allowed to mount over time, this dirt can accumulate and cause damage to the fence, which can eventually lead to structural decay and visual eyesores. After washing, it’s important to thoroughly dry the iron with a clean towel to avoid rust.

It’s a good practice to inspect the fence regularly for any scratches or chips in the paint. If found, talk to a wrought-iron fence installer or professional metal worker about how to use touch-up paint to conceal any unsightly blemishes and, more important, to reseal the wrought iron against the possibility of rust. When rust is allowed to expand, it can degrade the functionality of the fence in ways that become irreparable.

As mentioned, keeping an eye out for rust spots is a critical step in prolonging the life of any fence. Not only are the spots unattractive, they can compromise strength and lead to the deterioration and weakening of the iron. If rust is spotted, simply scrape all rusted areas with steel wool to remove the surface material, then apply touch-up paint to prevent its return and help reseal the iron against the elements. Alternately, call a local professional to inspect any potential problem areas and prescribe the proper course of action, if necessary, including a repaint or refinish job.

Other tasks that may prolong the life of a wrought-iron fence are staying on top of simple repairs. This means replacing any missing fasteners or hardware to ensure the continued functionality of the fence and its integrity. Again, you may need to contact a professional to help with complicated or large repairs.

Repaint

When it comes to repainting the entire fence, there are several options to consider. A complete refinish is recommended at least every two to three years to help weatherproof the iron and ensure structural and visual integrity. During that period, there will inevitably have been several touchups done, and a complete repaint can bring back all the color to a uniform tone.
Two of the most popular painting options are electrostatic painting (for immoveable items such as fencing) and powder-coating (for moveable items such as gates). Electrostatic painting is a process that uses negative and positive charges to adhere paint to metal surfaces. This pulls paint around corners and nooks to deliver a smooth and even coat without the risk of dripping or running paint and leaves a perfect finish.

The second option for repainting and refinishing worn wrought iron is a powder-coat finish. More durable than other conventional paints, powder-coating is designed to withstand chips, cracks, fading or peeling. Applied as a free-flowing polyester or epoxy powder that’s heated and sealed as a protective layer, powder-coating is an excellent way to protect and preserve any fence material. This technique may be used on many surfaces.

Caring for a wrought-iron fence can help prevent costly replacement of your long-term investment. Since these are custom products, it’s worthwhile to keep a keen eye on the condition of the iron and tackle any problems as soon as they arise. The same goes for gates.

Wrought-iron fences are beautiful and secure. However, they take ongoing upkeep and maintenance to function properly. If cared for correctly, these investments will last a lifetime and look great!

Since 2003, DCS Industries LLC has been installing and manufacturing high-quality, custom ironworks, including fencing and gates as well as energy-efficiency products for commercial and residential properties. The company manufactures all of its own ironworks, fencing and gates. For more information, visit www.dcs-ind.com.

By Alyssa Quill

As self-storage operators, we’re always focused on growing occupancy and revenue. However, we should also step back a few times each year to make sure we’re providing a safe and secure environment for employees and tenants. The following guide will help you avoid accidents and injuries, prevent property damage, and be prepared to keep people and property safe during emergencies.

Avoiding Accidents and Injuries

There are five likely causes of workplace-related injury: overexertion, falls, body reaction, strikes/blows and repetitive motion. Here’s a look at some common causes of injuries and how you can prevent them.

Overexertion can occur when you hold, lift, pull, push or throw an object excessively. To prevent it, make sure everyone at your property follows these guidelines:

• When lifting objects, including roll-up doors, lift with your legs, not your back.
• If a door is sticking, don’t pull or push too hard on it. Get an expert to fix it.
• Make sure ropes hanging from door handles are in good condition. Use them to pull the door closed.
• Refrain from assisting tenants with moving items into or out of their units.
• If an item that needs to be moved is heavy, get help or use a hand cart.

Falls are usually caused by carelessness or debris in walkways and driveways. To prevent them, check property lighting, including emergency lights, monthly. Also be on the lookout for trip hazards like trash, tree roots and asphalt cracks. Repair as needed.

When using ladders, make sure they’re secure and in good condition. All four touch points of the ladder should be level against the ground or wall. Use clips-on gripping shoes, such as Yaktrax, on icy or snowy days. Don’t climb on chairs or other furniture.

A body-reaction injury can occur when your body doesn’t respond in a situation the way it should. For instance, you may lose your balance when you climb, slip or trip. Again, stay alert and watch where you walk. Make sure floors are dry. If they’re wet from rain, snow or cleaning, use cautionary signage or cones to raise awareness. Never run while at work.

Keep doorways, entrances and walkways free of ice and snow. Have a contract with a reputable snow-removal company.

Never lift anything if your hands are wet or greasy. Use cat litter or something similar to clean up spills.

Injuries caused by being struck by an object are usually preventable. They’re often caused by items not being stored properly and falling on someone. Here are some ways to prevent these types of injuries:

• Use caution with hammers and other tools.
• Use ice clips on sloped metal roofs to prevent falling ice sheets.
• Don’t overpack shelves.
• Keep everything in the office and company storage units neat and well-organized.

Repetitive motion can cause stress or strain on your back, knees, shoulders and wrists. Don’t stay in the same position for too long. Get up and move around frequently. If you type for long periods of time, use a wrist rest near your keypad.

Avoiding Property Damage

Property damage at storage facilities is often caused by fire, flooding (or other water damage), theft, vandalism and vehicle accidents. To prevent fires:

• Explain to every tenant which items are prohibited from their units, including flammable goods like gas heaters and paint cans.
• In the event of an emergency or evacuation, unplug appliances and office equipment. Make sure nothing touches the heat source including draperies and paperwork.
• All fire extinguishers should be inspected annually, and all staff should be trained on how to use them.
• Don’t take torches, lanterns or any flames into any building. If you smell gas, turn off the main gas valve at the meter and open windows, if you can do so safely. Call the gas company immediately.
• Have all electrical work done by a qualified and insured electrician.
• Don’t overload outlets by plugging one extension cord into another.
• Use lightbulbs that are the appropriate wattage for your fixtures.
• Install smoke detectors and check them frequently.
• Store flammable materials in a metal cabinet.
• Never burn candles on the property, and don’t permit smoking at your facility. Post signs and enforce this rule.

Water damage and flooding can destroy your property and tenants’ belongings. Here are some tips to prevent it:

• Understand how your sprinkler system works. Many systems need to be flushed monthly—and before freezing temperatures arrive.
• In the event of an evacuation or emergency, always turn off the main water valve to the property.
• Close all windows when you’re not in the office.
• Make sure any exterior water valves are winterized.
• In extreme cold weather, let faucets drip slowly to keep water flowing through pipes that are vulnerable to freezing.

Unfortunately, self-storage properties can be targets for theft and vandalism. To minimize criminal activity:

• Be alert to strangers loitering around the buildings. Notify police of any suspicious behavior, and take seriously any threats made by disgruntled employees or tenants.
• Ensure all doors and windows are locked after work hours.
• Keep trees and bushes trimmed low near buildings so they can’t be used as cover by intruders.
• Keep cameras high so they’re harder for prowlers to reach to obscure or break.
• Finally, require valid government-issued identification for new tenants.

There are also several things you can do to prevent damage from vehicle accidents. First, protect expensive equipment with concrete bollards. This includes your gauges, glass entrance, heating and air-conditioning units, keypads, water pipes, etc. Place bollards about one to two feet from the corners of all buildings to prevent people from hitting them with moving trucks they’re not used to driving. Make sure any awnings or eaves are visible and at a height that won’t be hit by large vehicles.

Being Prepared for Emergencies

In the event of an emergency, you must be prepared to keep yourself, tenants and the property safe. First, call 911 and make sure everyone evacuates to a safe location. If possible, grab the computer. Next, contact your home office or property owner. He should contact his insurance company if he expects to make a claim.

Use professionals to clean up any hazardous spills or damage. In the case of chemicals on skin or clothing, flush immediately with water for no less than 15 minutes. Use caution when removing clothes, and seek medical attention if chemical inhalation causes dizziness, drowsiness, headaches or nosebleeds. Here are some other scenarios you may face:

• Explosion: Call 911 immediately. Assess the situation if you can do so safely. Watch for falling debris. Find everyone on the premises and evacuate until more information is available. Contact your home office or owner.
• Hurricane: Evacuate the premises. If possible before the storm, remove important items such as your computer and store them in a safe location. Turn off the electricity, gas and water. Keep batteries, flashlights, a radio, water and your rent roll in a waterproof container. Make sure your generators are working.
• Injury: Don’t attempt to move seriously injured people unless their lives are in immediate danger in their present location. After an injury, always fill out a detailed incident report and get full contact information for anyone involved. You’ll forget details that may be important in the future.
• Tornadoes: Have a designated area to which to retreat. Ideally, it should be in an interior room or closet in a fixed building with no windows. If caught outside, lie flat in the nearest ditch or ravine with your hands shielding your head. Be careful when emerging from shelter after the storm.

Every property and situation is unique, but hopefully this list will help you review conditions, procedures and supplies at your self-storage facility. Review your emergency protocols and safety practices regularly to ensure you’re taking all the precautions you can to keep employees, tenants and buildings as safe as possible.

Alyssa Quill is the co-owner of Storage Asset Management, a privately held self-storage management company that oversees more than 45 properties along the East Coast. For more information, visit www.storageassetmanagement.com.

Trico Investments, a real estate investment company operating self-storage facilities as Lighthouse Self Storage and other brands, has acquired Midway Self Storage in Miami. The facility at 8105 N.W. 2nd St. is in an urban market that consists of high-density, multi-family residential and retail centers, according to a Trico press release. The two-story, climate-controlled building will be managed by Progressive Realty Partners Inc., Trico's property-management group.

The acquisition represented a compelling opportunity for Trico, the release stated. “We are very excited to grow our footprint in the Southeast Florida market, provide great customer service and establish relationships with our new customers," said Trico CEO Mike Rolfes.

Headquartered in Irvine, Calif., Trico is a real estate fund manager specializing in the acquisition and development of self-storage properties. The company and its affiliates have designed, developed or owned nearly 100 storage facilities across the United States and managed more than 20,000 storage units in California and Florida.

Lighthouse Self Storage provides self-storage for personal and business customers as well as boat and RV storage in California and Florida.

Founded in 1996, Progressive Realty Partners is a property-management company specializing in apartment complexes, office buildings and self-storage facilities in California and Florida. Its team currently manages more than 1.4 million square feet of space.

Catalyst Storage Investors LLC, an investment firm specializing in self-storage ventures, has secured $31 million in permanent financing for five self-storage facilities the firm recently developed in partnership with West Coast Self-Storage. The portfolio comprises 255,000 rentable square feet, with three properties in California and two in Washington. All five facilities are branded as West Coast Self-Storage. They are:

• 2059 Harbor Blvd., Costa Mesa, Calif. (25,100 square feet, 278 units)
• 2490 Lafayette St., Santa Clara, Calif. (65,575 square feet, 669 units)
• 1305 N. Gaffey St., San Pedro, Calif. (54,715 square feet, 562 units)
• 501 S.E. 164th Ave., Vancouver, Wash. (45,612 square feet, 464 units)
• 8006 N.E. 72nd Ave., Vancouver, Wash., (61,350 square feet, 628 units)

The non-recourse loan is funded by an insurance company and structured with five years of interest-only payments, a 10-year fixed interest rate of 3.9 percent and an earn-out provision based on future income growth. It also provides for individual property releases, according to a press statement from Talonvest Capital Inc., the boutique real estate adviser that negotiated and structured the deal.

Talonvest principals Jim Davies, Tom Sherlock and Eric Snyder procured the financing on behalf of Catalyst. Founded in 2010 and based in Orange County, Calif., Talonvest structures debt and equity for developers and investors of self-storage and other commercial real estate nationwide. Together, the principals have more than 80 years of combined experience, according to the release.

West Coast Self-Storage is a real estate acquisition, development and management company headquartered in Mill Creek, Wash. It owns or manages 28 self-storage properties in California, Oregon and Washington. The company began a joint venture with Catalyst in 2008. The principals of both companies shared roots with Shurgard Storage Centers prior to the company’s sale in 2006.

Based in Woodinville, Wash., Catalyst is comprised of former Shurgard executives Chuck Barbo (chairman and founder), Harrell Beck (chief investment officer) and Dave Grant (CEO). The firm specializes in self-storage investment through acquisitions and development.

SmartStop Self Storage Inc., which operates 168 facilities in 21 states and Canada, has released its financial statement for the quarter that ended March 31, 2015. During the first quarter, the company increased same-store revenue 5.5 percent and net operating income (NOI) 15.3 percent compared to the same period in 2014.

Company officials attributed the favorable numbers, in part, to SmartStop’s self-administration and investment-management transaction last fall with Strategic Storage Holdings LLC and Strategic Storage Advisor LLC, which enabled it to become a self-managed entity.

"We continue to execute on our income and growth strategy," said H. Michael Schwartz, CEO. "We are happy to report that we have achieved our 13th consecutive quarter of year-over-year, same-store-revenue and net-operating-income growth."

Funds from operations (FFO) for the quarter grew 34 percent to $7.1 million year over year. Same-store average occupancy for the quarter increased to 86.8 percent compared to 84 percent during the same period in 2014.

Same-store annualized rent per occupied square foot was $11.10 for the first quarter, compared to $10.85 for the same period in 2014. Cash flow from operations increased 14 percent to $7.1 million year over year.

SmartStop acquired one self-storage facility, in Tempe, Ariz., during the quarter for $4.4 million.

On March 18, the company’s board of directors declared a dividend distribution rate for the second quarter of $0.001917808 per day per share of outstanding common stock payable to stockholders of record at the close of each day during the period.

Formerly Strategic Storage Trust Inc., SmartStop Self Storage is a diversified real estate company that focuses on acquisition, advisory, asset-management and property-management services for self-storage properties. The company is also the sponsor, adviser and property manager for Strategic Storage Trust II Inc., a public, non-traded real estate investment trust (REIT) specializing in stabilized properties, and Strategic Storage Growth Trust Inc., a public, non-traded REIT focusing on self-storage acquisition and development.