Update 6/30/21 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is additional activity taking place in June 2021.

268 Investments LLC intends to develop a self-storage facility in Wilkes County, N.C. County commissioners approved a special-intensity allocation for the project on June 15, which will allow the developer to build on a .76-acre parcel in a non-critical area of the Yadkin River WS-IV watershed. Up to 61% of the parcel can have an impervious surface. The county’s watershed-protection ordinance allows impervious surfaces on only certain portions of parcels in areas that limit development density because of their relation to public water supply. The building restriction is intended to protect streams from stormwater runoff.

300 South 12 St. LLC intends to build a self-storage facility in New Hyde Park, New York. The three-story building at 300 S. 12th St. would have a floor area of 37,400 square feet and be 35 feet tall. The project requires a special-use permit. During a recent public hearing, some neighboring residents objected to the development and questioned its positive impact on the community. A previous self-storage proposal for the site was denied in April by the board of trustees. Mayor Christopher Devane concluded the public hearing by saying the new proposal complies with village code and will be forwarded to the Nassau County Planning Commission, which must review the project before a permit can be granted. The board of trustees is expected to discuss the application again on July 15.

Magellan Value Partners (MVP) is building a facility in Azusa, California. MVP purchased the property at 1900 Avenue of the Stars in 2019. Once complete, the three-story structure plus basement will comprise 106,582 net rentable square feet in 1,150 units. The $14.4 construction loan includes a five-year, fixed interest rate, four years of interest-only payments and limited recourse. The deal also comes with a five-year extension option and no prepayment penalty. Financing was secured by Kim Bishop, Jim Davies, David DiRienzo, Lauren Maehler and Eric Snyder of Talonvest Capital, an Irvine, Calif.-based boutique self-storage and commercial real estate mortgage brokerage. Based in Los Angeles, MVP specializes in acquiring and developing industrial and self-storage assets.

Metro Storage LLC, which operates more than 135 self-storage properties in 14 states under the Metro Self Storage brand, purchased land in Eagan, Minnesota, on which it plans to build self-storage. Together, the properties at 3101 Highway 55 and 3200 Dodd Road comprise 2.24 acres. The land buyer and seller were represented in the transaction by Matthew Klein and Andy Manthei, investment specialists with KW Commercial, a real estate investment services firm with offices throughout the United States. Headquartered in Lake Forest, Ill., Metro specializes in the acquisition, development and management of self-storage facilities in Brazil, Central America and the United States.

Star Battle Creek LLC is converting a former Macy’s store at Lakeview Square Mall in Battle Creek, Michigan, to self-storage. Once complete, the facility at 5775 Beckley Road will offer 100,000 square feet of drive-through, climate-controlled storage. An entity of Rochester, New York-based Mustard Street Management received a special-use permit for the development last year, according to a source.

Rochester, New York-based Star Development Group is converting a former Sears store at Hickory Ridge Mall in Memphis, Tennessee, to self-storage. The first of two phases will open this summer with 450 units at 6075 Winchester Road. Once complete, the project will comprise 128,000 square feet of indoor storage. While the building sits on 3 acres, Star’s purchase includes 20 additional acres that extend to the junction of Ridgeway and Winchester Roads. The company plans to market the land for other businesses such as a car wash, gas station, hotel and restaurant.

Storage Cap Leasing LLC intends to develop a single-story self-storage facility on 4.53 acres in Loganville, Georgia. The site at Georgia Highway 20 and U.S. Highway 78 is adjacent to the Loganville Town Center and other retail development. The developer acquired the property on June 18 for $800,000 from Walton Ranch LLC. The seller was represented in the transaction by James Ashley Compton, national director of the Self Storage Group for Colliers International.

U.K.-based Store First will be part of a phase-two project for Northlight Estates, a mixed-use development in the Pendle borough of Lancashire, England. The second phase includes 12 two-person offices and 56 self-storage units. The first phase of Northlight included luxury apartments, small offices, and a collaborative workspace for businesses and entrepreneurs. Based in Burnley, England, Store First operates 15 self-storage facilities in Northern England and Scotland.

Self-storage developer and owner True Storage opened a conversion project in Bourne, Massachusetts, that’ll be managed by self-storage real estate investment trust CubeSmart and branded under its name. The property at 170 Clay Pond Road formerly housed Grand Union supermarket, which closed in 2008. The facility comprises 111,000 square feet in 1,033 units. Based in Manchester, New Hampshire, True Storage develops ground-up and conversions along the Eastern seaboard and Midwest. All of the properties are managed by national self-storage brands.

A private-equity joint venture intends to develop a self-storage facility on 2.96 acres in North Andover, Massachusetts. The project at the corner of Beechwood Drive and Route 125 will comprise 90,000 square feet. It’s in an area that’s seen an increase in multi-family and commercial development. The site is across the street from a former Amazona distribution center that’s being redeveloped. The joint venture recently acquired the property from Albacado Limited Partnership. The seller was represented in the transaction by Steve Desisto of Coldwell Banker Commercial. The buyer was represented by Joe Mendola and Joe Robinson of NAI Norwood Group, an affiliate of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

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6/16/21 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is additional activity taking place in June 2021.

A&M Plaza LLC is facing opposition from community members in its quest to build Carl's Self Storage in Freehold Township, New Jersey. During a recent planning meeting, residents expressed concerns over the proposal, which calls for the removal of more than 250 trees from the 2.5-acre lot near Three Brooks Road and U.S. Route 9, claiming the vegetation acts as a noise barrier. Plans call for two single-level storage buildings, with one containing 15,900 square feet in 109 units. The other, at 5,100 square feet, would include a manager’s office and studio apartment in addition to providing storage for the owner's personal automobile collection. A public hearing is scheduled for July 15.

Self-storage owner Matthew Cooke, who owns Apple Country Storage in Henderson County, North Carolina, intends to build Crab Creek Mini Storage on a 9.5-acre lot in the same area. The 125,728-square-foot project at 547 Crab Creek Road would require a special-use permit because the property is zoned as residential. Cooke’s proposal includes plans for some open space, a gated entrance and buffers along some borders of the property. Still, the land is across the street from several homes, which has prompted opposition from community members. Residents created preservecrabcreek.org, a website seeking donations to help fight the project, arguing the storage facility will negatively impact property values while increasing traffic and crime. The Henderson County Zoning Board of Adjustments will review the application for the special permit on July 28.

Creekside Properties Development Inc. intends to convert a former machine shop and neighboring land in Fenton Township, Michigan, to a mixed-use project including a coffee shop/bakery and self-storage. The company wants to split off 1.1 acres of residential land at 11394 Torrey Road and combine it with the parcel at 11428 Torrey Road to create a 4-acre lot, which is the minimum requirement for self-storage in a C-3 district. The zoning of the siphoned property would need to be changed to general commercial. Business owner Adam Shoemaker initially acquired the properties with the intent to remodel the existing structure for use as a Jeep- and truck-customization business in the rear while renting out the front of the building. After meeting Alisa Antonangeli and working a rental agreement for the coffee shop, Shoemaker decided to pursue self-storage for the back of the building instead. The board of trustees held a public hearing and first reading on the rezoning request on June 7. A second reading and vote is scheduled for June 21.

Garver Development Group LLC opened its self-storage conversion project in Pikesville, Maryland. The two-story, drive-through facility at 1315 Greenwood Road offers 136,000 rentable square feet, including 36,000 square feet of indoor vehicle storage, plus 420 square feet of outdoor vehicle-parking spaces. Built in 1946, the industrial building operated as Port City Press until 2018. It’s now a net-zero structure with a rooftop solar-panel array. The project was supported by a $3 million Commercial Property Assessed Clean Energy loan originated by MD Energy Advisors. It’ll be branded and managed by Self Storage Plus, which operates 53 facilities in Maryland, the Virginias and Washington, D.C. Based in Baltimore, Garver specializes in adaptive re-use, corporate-headquarter relocations, multi-family and senior housing, and self-storage.

Marble Arch Homes received zoning approval to build self-storage on the former driving range and parking lot of Blackbird’s Cave, an amusement park in Bayville, New Jersey. The facility would be constructed on 8.71 acres fronting U.S Route 9 and comprise 91,260 square feet. It would also include 22 outdoor vehicle-storage spaces.

Metro Storage LLC, which operates more than 140 self-storage properties in 14 states under the Metro Self Storage brand, built and opened a new facility in Randolph, New Jersey. The three-story structure at 353 Route 10 contains 838 units. It’s Metro’s seventh location in the state. Headquartered in Lake Forest, Ill., the operator specializes in the acquisition, development and management of self-storage facilities in Brazil, Central America and the United States.

Real estate development firm Midwest Expansion Cos. intends to convert a former Shopko store in Suamico, Wisconsin, to a mixed-use project including self-storage and retail. The property at 2320 Lineville Road would comprise 415 self-storage units, plus 20,000 square feet of retail in two spaces on the frontage. The village board approved an amendment to its Urban Edge planned development district on June 7 that’ll allow storage units inside the building. Project conditions include the prohibition of exterior storage units as well as the storage of non-electric, motorized equipment and vehicles. The developer will also have to install high-definition security cameras equipped with infrared light and a minimum of 45 days of video-storage capacity. Midwest acquired the property last year out of bankruptcy. It estimates the cost of storage construction at $750,000. Based in Green Bay, Wisconsin, Midwest specializes in residential, retail and self-storage development throughout the state.

Moove In Self Storge is expanding a facility it recently acquired in York, Pennsylvania. Expected to be complete early next year, the project will add more than 65,000 rentable square feet to the Richland Avenue location. The property will be managed by Investment Real Estate Management LLC, a division of Investment Real Estate LLC, a provider of brokerage, construction, development and management services to self-storage owners and investors since 1998. Moove In operates more than 30 facilities in Connecticut, Maryland, Massachusetts, New Jersey, New York and Pennsylvania. It’s a participating regional operator of National Storage Affiliates Trust, a Maryland real estate investment trust specializing in self-storage.

One Stop Self Storage opened in Dayton, Ohio. The newly built facility at 535 E. Third comprises 54,781 square feet. It’ll be managed by Absolute Storage Management (ASM), a self-storage owner and property-management firm that operates 137 properties in 16 states.

SureStore, which operates eight locations in England, is building a new location in Ashton-under-Lyne, a town in Greater Manchester, England. The four-story facility off Rayner Lane will comprise 50,000 square feet. Triton Construction is the general contractor. The project is the second of several collaborations between the two companies. SureStore has five other projects in planning or under development. It aims to operate 20 stores nationwide within 18 months.

Vermilion Shores LLC intends to convert the former Morning Journal newspaper building in Lorain, Ohio, to a mixed-use development including self-storage and a can-labeling center. The storage units would be placed in the northern section of the building at 1657 Broadway, while the beer-can labeling would be placed in the southern portion. As part of preliminary approvals, the Lorain City Schools Board of Education approved a community-reinvestment-area tax abatement for the structure, which would provide a 12-year tax reduction on improvements, estimated at $1.45 million. The building would eventually have a manager and up to 15 employees with an annual payroll of $312,000, and generate income tax payable to the city of about $7,800. The city council will have final say on the tax agreement and development. The project would also require a zoning change to allow the storage units. Local architect Gary Fischer is the project designer.

West Seneca Self Storage is seeking approval to expand in West Seneca, New York. Facility owner Chuck Haring wants to add a total of seven buildings—five now and two sometime in the future—to his 4-acre property at 1711 Union, which already contains nine storage buildings. Five of the single-story structures would be built on a parking lot east of the existing structures, while the other two would be on the west side of the property and east of the office, according to plans by Andrew Terragnoli, a civil engineer with Studio T3 Engineering PLLC. Each building will vary in size, with a total addition of 12,900 square feet. West Seneca offers drive-up and vehicle storage.

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6/4/21 – The global self-storage development pipeline continues to be extremely dynamic. Inside Self-Storage regularly covers new projects being planned and approved as well as zoning and other municipal issues. Following is activity taking place in June 2021.

A&A Self-Storage Ltd. is looking to expand its facility in Islington, London. Plans include adding a new floor containing 6,703 square feet of storage plus distribution space to its four-story property at 43-53 Brewery Road. The company also intends to revamp the back of the building to create a larger loading bay. The project was put on hold two years ago over concerns that the addition could reduce daylight for the residential building across the way. The planning committee supports the new application, noting the 30% of lost daylight doesn’t warrant a refusal.

Amy’s Attic Self Storage, which operates eight facilities in Texas, has opened a new location in Waco, Texas. The three-story facility at 1821 S. New Road comprises more than 100,000 square feet. Founded in 2004, Amy’s Attic also operates sites in Belton, Copperas Cove, Harker Heights, Killeen, Morgan’s Point Resort, Salado and Temple.

Officials in Mequon, Wisconsin, extended a tax incremental district (TID) to allow Blue Ribbon Storage III LLC to convert a vacant industrial building to self-storage. The project at 10448 N. Port Washington Road will comprise 700 units, 15 of which will be reserved for RV storage. The developer will add an interior second story and remodel the exterior. Under the terms of the TID, which was created in 2012, taxes on the base value of the property, before renovation, will continue to be earmarked for city, school district and other entities. Funds from property improvements will be put toward the renovations, not taxes. The projected value of the storage facility is $6.45 million, with annual tax revenue expected to be about $98,000. Blue Ribbon won’t receive money for the renovations if it doesn’t complete the project or pay its annual tax bill. It also won’t receive funds if the property fails to meet required incremental values. Blue Ribbon is affiliated with Blue Ribbon Management LLC, a Milwaukee-based real estate development and investment company with interests in self-storage.

The Box Self Storage opened a new facility in the Jumeirah Lakes Towers (JLT) development in Dubai, United Arab Emirates (UAE). The four-story facility comprises more than 140,000 square feet and includes coworking space. The project’s energy use will partially be offset by onsite solar panels. The property is within the Dubai Multi-Commodities Center free-trade zone. Established in 2007, The Box operates more than 30 facilities in the UAE.

Cascade Self Storage completed construction on a new facility in Grants Pass, Oregon. Built on 7 acres at 2450 N.W. Vine St., the property comprises 143,815 rentable square feet in 708 units and several covered, vehicle-storage spaces. The company will hold a ribbon-cutting ceremony on June 26 in conjunction with the Grants Pass & Josephine County Chamber of Commerce. Cascade operates three other self-storage facilities in Oregon.

Horizon Drive LP is developing a three-story self-storage facility on newly annexed land in Fairfield, California. The project for the parcel south of Horizon Drive and west of Clay Bank Road will comprise 75,000 square feet.

In a joint venture, Live Oak Capital Partners, Lumpkin Development and MacArthur Holdings are developing a four-story self-storage facility in Stuart, Florida. The project at 700 S.W. Federal Highway will comprise 110,000 square feet in 860 units. Once complete, it’ll be managed by self-storage real estate investment trust CubeSmart. The builder is DC Construction, with Iberia Bank providing the financing. Based in Atlanta, Live Oak is a developer and real estate investment firm. Lumpkin develops and operates self-storage, retail and industrial real estate in the Southeast. MacArthur is a real estate business based in New York City.

Lock Stock Self Storage expanded its location in the Whitegate Light Industrial Estate in Wrexham, Wales. The project added 70 units, bringing the site’s capacity to 250,000 cubic meters of storage space in 130 containers. It also included new fencing and electronic gates to allow 24-hour customer access. The facility opened in 2003. Lock Stock also opened a two-story facility in February in Sandycroft, Wales, on which it intends to add eight, 1,280-square-foot office spaces on the second floor. Founded in 1999, the company specializes in container storage. It operates 22 facilities, mostly in Wales.

Midwest Indoor Storage (MIS) intends to convert a former Sears location to self-storage in the Southport Shopping Center in Mason City, Iowa. The city council approved several ordinance changes that, in principle, pave the way for project approval. Among the changes were the removal of a limit on the number of self-storage facilities in the city and a requirement that storage businesses be less than 35,000 square feet. The proposed project would be 55,000 square feet. If approved, it’ll be the first for MIS in Iowa. Based in Rochester, Minnesota, MIS operates six locations in the state.

Par II Storage intends to build a self-storage facility in Tallahassee, Florida. The four-story building at 1391 Timberlane Road will comprise 104,000 square feet. The site is zoned as an activity center, which the city designates for community or regional commercial activities close to multi-family housing and office centers. The project is expected to be complete in about 12 months. The developer acquired the property in March for $1.65 million. Based in Largo, Florida, Par II specializes in self-storage development projects in the Southeast.

Quinlan Development Group LLC (QDG), a privately held real estate investment and development firm, is constructing a self-storage facility on a 1.6-acre parcel at 16-09 and 16-17 Route 208 in Fair Lawn, New Jersey. Slated to open in the second half of 2022, the three-story building will comprise 123,000 gross square feet in 1,084 units. Bank OZK provided the $17 million loan.

QDG is also working with city officials in South Orange, New Jersey, on the design for a project at Lackawanna Place and Valley Street. Company representatives shared updated plans during a May 25 meeting that included members of the design and review board. The three-story facility will feature mixed metal materials, brown brick and large windows. The renderings also include a movie screen on the side of the building that faces Founders Park. The developer plans to incorporate the design board’s feedback, then resubmit its plans. Founded in 1971 and based in New York City, QDG has built, renovated or invested in more than 36 properties including offices, mixed-use rentals, luxury condominiums, retail, and three self-storage facilities in Northern New Jersey.

Say Hey LLC is building Verdi Executive RV and Boat Storage in Reno, Nevada. The facility on Interstate 80 will comprise 278,000 square feet in 530 covered vehicle-storage spaces, two dump stations and a rinse rack. In addition, it’ll offer 20-amp electrical service, portable-storage units, a business center and a dog park. The first 170 spaces are expected to open this fall, with the remainder available next spring. The project is being designed and built by Frank Lepori Construction Co. and Gabe Wittler of Odyssey Engineering. Baja Construction Co. Inc. is providing the engineering and canopies, with owner Robert Hayworth as consultant. Moe Kruger, senior loan officer for Live Oak Bank, secured the loan.

The Signorelli Co. opened Valley Ranch Self Storage in Porter, Texas. The three-story, 100,400-square-foot facility at 21910 Valley Ranch Crossing Drive comprises 750 units. It’s part of Valley Ranch, a 1,400-acre master-planned community Signorelli is developing. Founded in 1994 and based in The Woodlands, Texas, the real estate development company specializes in commercial, mixed-use and residential projects in Oklahoma and Texas.

Stein Investment Group (SIG), an Atlanta-based private real estate investment firm that operates the Space Shop Self Storage brand, is seeking permission to convert the shuttered Park 12 Cobb Cinemas in Cobb, Florida. The county’s planning commission was expected to review the proposal for 2925 W. Frank Gordy Parkway this week. The two-story movie theater comprises 250,000 square feet on a 5.1-acre lot. In addition to converting the building’s interior to climate-controlled storage, Stein plans to add a 33,800-square-foot storage structure. The land is owned by Georgia Theatre Co., a regional theater chain. County staff have recommended approval. Founded in 2012, SIG operates more than 20 facilities in six states.

Phoenix-based U-Haul International Inc. is converting a former Kmart store in Florence, South Carolina, to self-storage. The building at 2020 W. Evans St. was built in 1968 and vacated in 2017. U-Haul acquired the 124,426-square-foot structure in April. Once the renovation is complete, it’ll offer more than 700 indoor units.

U-Haul is also set to open a new moving and self-storage center in Erie, Pennsylvania. The facility at 2255 Downs Drive comprises 55,805 square feet including 748 storage units. The company will host a grand-opening event on Saturday. The site is one of three new U-Haul locations in Erie. Established in 1945, U-Haul owns and manages more than 66.7 million square feet of storage space nationwide.

The William Warren Group (WWG), a privately held real estate company that operates the StorQuest Self Storage brand, opened a new location in Walnut Creek, California. The four-story facility at 2870 Camino Diablo is its 12th in the San Francisco Bay Area. Founded in 1994 and based in Santa Monica, Calif., WWG acquires, develops and manages more than 200 self-storage facilities in 16 states.

An unidentified developer intends to build Sunnyside Self Storage in Happy Valley, Oregon. The three-story facility at 16576 S.E. Sunnyside Road will comprise 60,125 net rentable square feet in 601 units. It’ll also include a half basement. The site is in the central business district, less than a half-mile from city hall. The developer recently acquired the site from a Washington-based limited liability company.

An unidentified developer intends to construct a nine-building self-storage facility on 5.64 acres in Manteca, California. The property at 2430 W. Atherton Drive would comprise 123,357 square feet in 844 units. It would border a sound wall separating it from homes to the south and west. City requirements call for 27 parking spaces, of which three would need to be dedicated to clean-air vehicles, and two electric-car charging stations. The planning commission is expected to review the project on July 15.

New Sources:
Bridge Michigan, A Michigan Mall’s Transformation: From Macy’s to Self-Storage
Daily Memphian, Sears to Self-Storage: Hickory Ridge Mall Space to Open This Summer
Lancashire Business View, Storefirst to Open Premises at Northlight
Multi-Housing News, Los Angeles Self Storage Facility Lands $14M Financing
REBusiness Online, True Storage Completes 1,033-Unit Self-Storage Facility in Bourne, Massachusetts
The Island Now, New Hyde Park Trustees Hold Hearing on Three-Story Storage Unit Proposal
Wilkes Journal-Patriot, Action Allows Dollar General, Self-Storage Business

Previous Sources:
Ashbury Park Press, 'Our Biggest Noise Barrier': Freehold Township Self-Storage Would Chop Down 250 Trees
The Buffalo News, West Seneca Self-Storage Firm Plans Expansion
IndeOnline, Zone Change Paves Way for Former Massillon Kmart to Become Indoor/Outdoor Storage Center
Jersey Shore Online, Blackbeard’s Driving Range to Become Public Storage Facility
Multi-Housing News, Adaptive Reuse Self Storage Facility Opens in Baltimore Suburb
PR Newswire, Metro Storage LLC Opens New Self Storage Facility in Randolph, NJ
PR Newswire, Self Storage Plus Opens Their First Drive-Through Storage Facility
Morning Journal, Former Morning Journal Building to House Storage, Beer Can Label Business
Press Times, Former Suamico Shopko to Be Used for Indoor Mini-Storage
The Business Desk, Construction Firm Wins £2.7M Contract With Self-Storage Company
Tri-County Times, Coffee Shop, Self-Storage Coming to Torrey Road
WLOS, Mountain Citizens Band Together to Fight Contentious Crab Creek Storage Facility Proposal
Daily Republic, Fairfield Council Agrees to Annex Land for Storage Center Into Facilities District
GMToday, 700 Storage Units coming to Mequon’s South Side
Islington Gazette, Developer Seeks to Extend Brewery Road Storage Block
KIMT3 News, Mason City Council Approves Mall Development Deal, Ordinance Change for Storage Project
Manteca Bulletin, Self-Storage With 844 Units Planned on Atherton Drive
Multi-Housing News, New Jersey Self Storage Facility Breaks Ground
PR Newswire, Sustainability Impact: U-Haul Reuse of Vacated Kmart to Benefit Florence
PR Web, New Storage Units Available for Rent in Waco Texas
PR Web, Walnut Creek Make Room for Awesome with StorQuest Grand Opening
REBusiness Online, Joint Venture to Open 860-Unit Self-Storage Facility in Stuart, Florida
REBusiness Online, Signorelli Opens 750-Unit Valley Ranch Self-Storage Facility in Porter, Texas
ROI-NJ, Construction Starts on $17 Million Fair Lawn Self-Storage Facility
StreetInsider, Grand Opening Saturday: U-Haul Introduces Newest Store in Erie
Tallahassee Reports, Market District to Get 100,000 Sq-Ft Self-Storage Project
Tap Into Soma, Developers, South Orange Inch Closer on Design for Self-Storage Facility at Valley, Lackawanna
Wales 247, Self-Storage Giant Doubles Size of Wrexham Site After £150K Revamp
Yahoo News, Developer Proposes Storage Facility for Shuttered East Cobb Theater

In football, the kicker is one of the most important players. Kickers are known for their ability to handle high-pressure situations. When the win is on the line, they’re called in to finish the job. Though they aren't always on the field, they’re essential to every team and can make or break any game.

Similarly, in self-storage, you sometimes need a few “extra points” to win a customer’s business. That deciding kick can come in many forms, but it often boils down to superior customer service and facility amenities. One of the things that can cement a positive outcome is to provide the prospect with peace of mind around his stored belongings. How? Through an offer of tenant insurance.

Why You Need It

Tenant insurance should be made available to all your customers. Most self-storage rental agreements clearly state the facility operator isn’t responsible for customer goods. That’s where tenant insurance comes in. The program provides coverage for risks you aren’t able to control, such as a hurricane, flood, tornado and other catastrophes. Of course, not all losses come from natural disasters. In fact, theft is the most common claim made by renters.

Without some kind of insurance, your self-storage tenants are vulnerable. The majority of homeowners or renters policies won’t cover stored items or will only cover a fraction of the goods’ value. While your lease releases you from liability for these types of losses, tenant insurance protects customers from the unexpected.

The Benefits It Brings

There are three primary benefits to offering self-storage tenant insurance. First, it offers financial compensation for stolen or spoiled goods. Most policies provide coverage for losses due to:

• Burglary
• Pests
• Water
• Fire
• Smoke

Second, a tenant-insurance program is easy to administer. It’s often available through a monthly pay-with-rent option. Many providers offer policies with no or a low deductible. Furthermore, most policies provide primary coverage and pay first, even if the tenant has a homeowners insurance policy.

Finally, tenant insurance can generate additional income for the business, allowing you to increase facility revenue and property value. Of course, this benefit hinges on your ability to get customers to enroll, and simply placing a brochure on the counter often isn’t enough. You need an active sales effort.

Ways to Sell It

Self-storage managers should discuss tenant insurance and its benefit with every customer during the rental process. Fortunately, most insurance providers offer training materials to help staff succeed at selling their product.

You can also lean on your facility management software to help you boost sales. Today’s robust programs guide managers through move-in workflows that provide the required tenant-insurance fields. They also provide communication tools that allow staff to more effectively offer insurance, with automated tenant-enrollment status alerts and one-to-one communication with tenants via text and email. Finally, they can generate reports that track sales performance, so you know who’s succeeding at insurance sales.

By offering tenant insurance in a systematic, professional manner, you can ensure your customers are covered for those unexpected circumstances. The product helps you provide a higher level of service and gives your tenants peace of mind.

So, let tenant insurance be your self-storage sales “kicker.” Making the product available will earn you extra points with customers. If you’ve never offered it or are inexperienced in selling it, give it a try. Even if you miss, at least you’re playing to win!

Mario Macaluso is a co-founder of the SBOA Tenant Insurance program and the founder of Best Self Storage Insurance LLC . To reach him, call 888.212.5109 email [email protected].

Building a self-storage fortune doesn’t happen by accident. It takes industry knowledge, a discerning eye and a disciplined approach. First-hand guidance from the co-founder and owner of Bitterroot Holdings and Keylock Storage can help. In his book, “The Investors Guide to Growing Wealth in Self Storage: The Step-By-Step Playbook for Turning a Real Estate Asset Into a Thriving Self Storage Business,” AJ Osborne teaches you to identify investment opportunities, allocate capital, and leverage management expertise to turn a mom-and-pop real estate asset into an income-producing venture. Contents include:

• Why self-storage is an attractive investment
• How to get started in the industry
• An explanation of facility valuation
• Ways to find deals
• Facility financing
• How to evaluate competition and the deal itself
• Tips for transforming an underperforming asset
• And more!

Osborne co-founded his operation in 2012, building it into a $100 million portfolio with 12 properties across the Northwest. Though he specializes in turning around underperforming properties, he’s also developed self-storage from the ground up, expanded existing facilities and converted other property types into storage.

Published by JamesBrennae Publishing, “The Investors Guide to Growing Wealth in Self Storage,” is available in softcover format. Additional details are available at iss-store.com. Gain the knowledge and vision to build your self-storage investments into a financial foundation for sustainable success!

Tenant Inc., a developer of real estate technology, has added one-time password integration to Mariposa, its website technology that allows consumers to rent self-storage units online. The system replaces the typical username and password authentication for when tenants want to access their accounts. Self-storage customers can now use their mobile-phone number as their username and receive a temporary, six-digit passcode via text each time they log in, according to a press release.

Each passcode is good for a single use and valid for only one minute. “We’re seeing this as a huge security enhancement for all the tenants at our customers’ properties, since all of them have personally identifiable information tied to their accounts,” said Beth Austin, chief marketing officer. “At the same time, it also makes logging into their account extra convenient, since they don’t have to remember yet another login.”

For self-storage operators who also use the company’s Hummingbird property-management software, Mariposa will recognize tenants the first time they log in and automatically link their storage units to their account, the release stated.

Headquartered in Newport Beach, Calif., Tenant Inc. offers a platform is designed to create customizable solutions for self-storage operators, including property-management software, website technology, digital-marketing services and more.

Source:
EIN Presswire, One-Time Password Comes to Tenant Inc.’s B2C Website Platform

U.K. self-storage operator Big Yellow Group PLC has raised £100 million through a placement of 7.8 million shares to existing shareholders and new investors. The company intends to direct the proceeds toward £145 million in acquisitions, including the remaining 80% stake in the Armadillo Self Storage brand and a property at 66 Hammersmith Road in the West Kensington area of London, according to the source.

The company is expected to pay £119 million, including debt, to joint-venture partners for the remaining stake in the Armadillo brand of 25 regional sites. The Hammersmith purchase is £26 million. Company officials described the property as “the most strategic site in the group’s history,” the source reported.

“The placing has been successfully completed, and we are very grateful to our shareholders for their support,” said Nicholas Vetch, executive chair. “This equity raise allows us to fund two important strategic acquisitions, which along with our existing development pipeline, have the potential to generate in excess of £40 million of net operating income over the short to medium term, and in so doing create significant value for our shareholders.”

The equity shares sold for £12.90 each, representing a .9% discount to the closing price on June 23. The shares represented 4.4% of Big Yellow’s ordinary share capital before the placing, according to the source.

Big Yellow Group operates 103 self-storage locations in the United Kingdom under the Big Yellow Self Storage and Armadillo brand names, with most concentrated in Greater London and Southeast England. Its total portfolio comprises more than 6 million square feet.

Source:
ShareCast, Big Yellow Raises £100M for Acquisitions

Lock Stock Self-Storage, which operates 22 container-based self-storage facilities in Wales, is supporting Alabaré, a nonprofit that helps homeless and marginalized people, including veterans of the armed forces. The charitable organization launched Field Kitchen in 2019 to employ veterans, who are taught to prepare, cook and serve food from converted horse trailers at festivals, tradeshows and other events. The program also provides them with training in catering and customer service.

Field Kitchen recently helped a veteran rebuild his life after his family lost their farm, leaving them homeless for six months. He was referred to Alabaré, where he was provided with shelter and learned about the kitchen program. He then founded a wood-fired pizzeria called Pizza 4 Vets.

Lock Stock plans to help more than 30 former servicemen annually through charity. “Alabaré do some fantastic work with veterans, who can find it hard to adjust to life back or find circumstances stacked against them, like David,” said Tony Jones, site manager for Lock Stock in North Wales. “This is a great idea to run a mobile pizzeria with a proper wood-burning oven, and they turn out great pizzas as well. Things can be tough for charities in these difficult times, so this is a great way to raise funds and perhaps give some of their clients an opportunity to retrain as well.”

Founded in 1999 by brothers Nick and Shon Powell, Lock Stock offers 3,000 self-storage containers across its properties. The family-operated business also offers moving services through its “Take Stock” van fleet.

Source:
The Free Press, Veterans Charity’s Helps Rough-Sleeping Former Soldier Rebuild His Life

Bradshaw's Mini Storage in Wheatland, California, hosted a “dad bod” car wash earlier this month to raise funds for those impacted by the Intanko Fire, including a family whose home was completely destroyed. The June 13 event was spearheaded by Jarod Culler, who had come up with the idea for a fundraiser featuring men of a particular body type just days before the blaze. At the time, he’d had no specific cause in mind, according to the source.

After the wildfire torched nearly 1,000 acres and destroyed the home of the Houston Family, who lived across the street from Culler’s in-laws, Culler decided to raise donations for the victims. He reached out to local dads and posted on social media.

“The response was overwhelming,” Culler said. “Within an hour of posting on Facebook, several hundred people said they would attend.”

The event ultimately raised $2,100. “It was like a party in a parking lot,” said Culler. “We were out there spraying each other with hoses, dancing and just having a good time.”

Bradshaw’s Mini at 119 D St. hosted a second car wash by the same group on June 19 to raise money for the family of two-year-old Tommy Craighead, who died this year from causes unrelated to the fire. The funds were to help offset funeral costs, according to the source. For this event, the “dad bods” were accompanied by “hottie mommies.”

Source:
Yahoo News, 'Dad Bod' Group Raising Funds for Local Efforts

Many self-storage facilities are within or near residential areas. As operators, we’re part of the community and have a duty to be a good neighbor. In fact, it’s critical to our ability to rent units! That said, there can sometimes be conflicts with local residents and businesses, not just during the planning and building phase of a self-storage project, but even once the facility is up and running.

To maintain good standing in the public eye, it’s important that any disagreement be handled quickly and professionally. How you manage your public relations directly impacts facility success. Whatever the issue, it’s wise to work things out. You never know who might be a potential tenant or source of referrals.

You can’t always avoid conflict, and defusing a situation may be challenging. However, if you put your community first, it’ll be easier to come to a resolution that pleases neighbors, and your self-storage business will be viewed more favorably. Below are a few contentious situations my company has faced and how we fixed them.

Bright Lights, Big Fight

We own and manage a self-storage facility that’s directly in front of an apartment complex. The two properties coexisted peacefully for years—until we upgraded our exterior lighting. We were excited about the new LEDs, but one of the apartment residents wasn’t at all thrilled.

We started receiving calls at all hours of the night regarding our new lights. The disgruntled party said he was having a hard time sleeping due to the brightness. We knew we needed to resolve the situation, but first we needed a plan. One thing was certain: We weren’t going to revert to our old lighting. The LEDs were beneficial and had been an expensive upgrade.

When we reached out to the resident, we explained that the new lighting wasn’t only valuable to us and our tenants but to all residents in the area. It also allowed our cameras to capture better footage of the facility and apartment complex. We recommended he purchase black-out curtains to block the light from streaming into his apartment. He was happy with our suggestion, and we were glad to keep our new fixtures.

A Thief Among Us

A facility we managed remotely was in a high-crime area. One evening, a burglar broken into several units, then fled the site and hopped over the back fence into a neighbor’s yard. He then broke into her house, where he stole jewelry and a gun. Unfortunately, it turned out the thief was one of our tenants.

The neighbor was obviously concerned that the robber had come from our property. We knew we needed to improve our security and leasing practices. We hired a guard to patrol in the evenings and required new tenants to provide a copy of their ID. Our remote managers also began to use more caution when renting units at this location.

Going to the Prairie Dogs

In another instance, a facility we were developing was about to get its building permit. During a city council meeting, several residents voiced concerns about prairie dogs that lived on the site. They were worried the animals would be displaced due to the construction.

We were happy to work with them to come up with a solution that would cause the smallest amount of disruption. We decided the best option would be to hire a professional animal rescue. It wasn’t in our schedule or budget, but we adjusted both to accommodate the need, and the prairie dogs were moved to a more natural habitat. In the end, residents were satisfied, and we were able to continue with our project.

Not in My Back Yard

Another facility we were building was in front of large, single-family housing development, right off a main thoroughfare. Our lot was zoned commercial, but one of the residents was unhappy about the project being built at the gateway of the neighborhood. He posted a review on Facebook and Google, sent us many emails, and used other forms of digital communication to express his concerns.

We knew we needed to reach out to this resident but didn’t want to continue the conversation in the public eye. We asked for his phone number, which he refused to supply, forcing us to communicate via email.

We offered to give him a look at our landscaping plans and take him on a tour of the property. We explained that we also lived in the area. We pointed out that any commercial business could build on the lot, but we cared about our community and promised to be a good neighbor. While he declined to take a tour, he was finally satisfied by our assurances.

Complex Problems, Simple Solutions

A conflict with your community can feel complex, but the solution is often simple. Many times, it boils down to communication. Listen to what your neighbor is trying to say and work with him to find workable options. Do everything you can to make local residents and businesses happy. It is possible for your self-storage facility to be a valued member of the area. Whether you have a site under development or you’re up and running, you’re part of the group, and how you respond to concerns affects your ability to succeed.

If you do receive a complaint, stay calm, make a plan, reach out and do what you can to control the conversation. Give the upset party time to express his concerns or displeasure, and show empathy. Most of the time, you can find a positive path to resolution, and maybe even earn a new customer in the process!

Denise Bowley is the owner of Self Storage Science LLC, a property-management company specializing in self-storage. A licensed real estate agent in Texas, Denise has served the self-storage industry for more than 25 years, opening dozens of new facilities and integrating acquired facilities into her platform. She has experience in setting company policies and currently supervises nearly 40 staff members. She also oversees the accounting department. To reach her, e-mail [email protected].

If you’ve been thinking about whether to dive into a self-storage investment, either as a new entrant to the business or an existing investor or owner looking to expand, there’s no better time than now to take the plunge. The industry fared well through the pandemic and continues to improve as the economy rebounds. But before jumping in, you need to gear up with right knowledge and resources to ensure your venture is a success!

Immerse yourself by attending the Inside Self-Storage (ISS) World Expo, July 13-16, at The Mirage Hotel & Casino in Las Vegas. The four days of education, networking and exhibits will help you determine if this is the right excursion for you. If you already own a storage business, you’ll gain insight to help you grow or sell your portfolio, plus boost its value. So, come on in … The water is fine.

Jump Into Our Education Program

Investing in self-storage may seem like a simple concept, but there are many complexities to buying and selling in this asset class. If you’re looking to acquire, you need to know which markets are performing, how to evaluate candidates and the options for financing. If you plan to sell a property in the coming months, you need insight to value and how to determine the right timing.

First, make sure you sign up for this year’s Investing Track of one-hour seminars, which will provide guidance on a range of critical topics. The seven sessions, split over July 14 and 15, are:

• Moving Into Freedom: How Self-Storage Saved My Financial Future (and Can Save Yours, Too)
• Getting Your Green: A Glimpse Inside the Minds of Today's Self-Storage Loan-Makers
• Advanced Self-Storage Deal Structures for the Current Lending Climate
• I Got Investors to Build My Self-Storage Facility … Here’s How You Can, Too!
• Digging Into Market Data: Going Beyond the Self-Storage Feasibility Study
• Buy, Hold or Sell in a Bull Market? The Best Strategy for Your Self-Storage Asset
• Self-Storage Valuation in Today’s Mystifying Market

Next, consider the Acquisitions Workshop on July 16. Taught by industry expert Bob Copper, the four-hour course is designed for new investors as well as owners who want to maximize the value of their properties before sale. Topics will include real estate best practices, how to evaluate potential deals, how to determine your budget, due diligence, exit strategies, and pitfalls to avoid. Attendees will also get case-study examples of poor transactions, what went wrong and the consequences.

Swish Your Networking Fins

While our education program will deliver much of the hard-hitting information you need to start or grow a self-storage investment, you’ll also need strong connections to implement your plans. The ISS World Expo can help you find the right diving buddies, with lots of opportunities for group swim.

Start by participating in the investing-themed Storage Talks on July 14. Formerly known as Table Talks or roundtable discussions, these sessions will function differently in 2021 in response to health requirements related to COVID-19. Now, instead of rotating from table to table, you’ll get comfy in a chair and enjoy five short presentations on stage, in 10 minute increments. Each speaker will give a short introduction and then invite feedback and questions from the audience.

You also won’t want to miss the investor-focused Self-Storage Q&A on July 15. This open-forum format is your perfect chance to get your questions answered. The session will be hosted by finance expert Shawn Hill of The BSC Group LLC and real estate guru Ben Vestal of Argus Self Storage Advisors.

Next, make your way to the exhibit hall, where you’ll find more than 150 product and service suppliers, including those that provide financing, consulting services, real estate brokerage and more. Exhibits will have extended hours this year, giving you more time to mingle and learn from other industry professionals.

Finally, take advantage of the annual Buyers & Sellers Meeting on July 15, which takes place on the show floor. There you’ll be able to speak with like-minded owners and investors who are looking to buy or sell properties. Conversations are organized by region, so you can quickly connect with the right potential partners.

No matter what your investment plans are for 2021 and beyond, you’ll gain the know-how you need and find the resources to move forward at this year’s conference and tradeshow. So, stop standing on the shore. It’s time to grab the right equipment and dive into self-storage. Open water, here we come!

To register and learn more about the ISS World Expo, including education sessions, exhibitors and speakers, visit issworldexpo.com.