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Articles from 2005 In July


MiniCo Publishes Book on SS Investing

Article-MiniCo Publishes Book on SS Investing

Phoenix-based MiniCo Inc., a provider of self-storage insurance programs, publications and other specialty products and services, published its first book, How to Invest in Self-Storage, co-authored by Scott Duffy and RK Kliebenstein. The book was released in August via MiniCo's website and mass-market retail outlets.

How to Invest in Self-Storage addresses critical aspects of self-storage investment, development, ownership and operation, and offers useful information for industry newcomers and experienced investors. Chapters focus on market trends, benefits of real estate investment, market and product analysis, revenue generation, operating costs, feasibility studies, potential risks, and financial issues.

Duffy is the founder and president of Self Storage Capital Group, a Los Angeles-based real estate investment company specializing in developing, acquiring and managing self-storage facilities. Kliebenstein is president of Coast-to-Coast Storage, a self-storage consultancy firm, and a well-known industry author and speaker. For more information, visit www.minico.com.

Universal Discontinues Insurance Program

Article-Universal Discontinues Insurance Program

After 10 years of service to the industry, Phoenix-based Universal Insurance Facilities Ltd., a provider of specialized insurance coverages, has discontinued its self-storage program. The company created an alliance with Deans & Homer to ensure its customers receive continued support and service.

Founded in 1856, Deans & Homer is the exclusive underwriting manager for several prominent insurance companies and has offered self-storage programs since 1974. Headquartered in San Francisco, the company has branches in Arizona, California and Oregon. For more information, call Deans & Homer at 800.847.9999, or e-mail Universal [email protected]; visit www.deanshomer.com.

ISS Miami Expo Approaches

Article-ISS Miami Expo Approaches

The Inside Self-Storage fall expo will take place at the Hyatt Regency in Miami, Oct. 26-29, featuring three days of educational seminars, forums, roundtable discussions, exhibits and networking events. Hosted in conjunction with the Florida Self Storage Association, the event also includes a full-day developers' seminar taught by RK Kliebenstein and John Wilson of Educational Resources, a joint venture between seven self-storage experts for the sole purpose of enlightening industry newcomers. For more information or to register for the ISS Expo, visit www.insideselfstorage.com/expo. For more information about the developers' seminar, visit www.developingselfstorage.com.

Pramerica Invests in Spanish Self-Storage

Article-Pramerica Invests in Spanish Self-Storage

Pramerica Real Estate Investors, the European arm of Prudential Financial Inc., made a 15 million investment in the Spanish self-storage operator Blue Self Storage S.L., known as Bluespace. Bluespace will use the money to expand and consolidate its operations in the greater Barcelona and Valencia regions, as well as to finance its entry into the Madrid market. The company currently operates three sites in Barcelona. In Valencia, it operates one site and has plans for another.

Bluespace founders Alexander Ruckensteiner and Arnaud Ripert were pioneers in introducing self-storage to Spanish consumers, opening their first site in Hospitalet, Barcelona, in October 2002. Pramerica has been investing in self-storage since 1998, when its U.S. merchant banking team formed a joint venture with Extra Space Storage. The company has endowed $500 million in the self-storage sector worldwide, including a U.K. venture with Big Yellow PLC. Recently, it committed $1.5 billion in a joint venture with Extra Space to acquire Storage USA. For more information, visit www.pramericarei.com.

Joint Venture Hosts Vegas Developers' Seminar

Article-Joint Venture Hosts Vegas Developers' Seminar

Educational Resources, a newly formed joint venture of seven well-known self-storage companies, will host a developers' seminar on Sept. 7 at Caesars Palace hotel in Las Vegas. The one-day event, created for those interested in learning to develop self-storage projects, will provide an A to Z guide in an informative, non-sales environment. RK Kliebenstein, co-author of the soon-to-be-released book How to Invest in Self-Storage, will address the issues of site selection, market analysis and project feasibility. Industry veteran John Wilson will teach how to create a construction budget and discuss construction trends. Industry expert Bruce McCardle will talk about contractor selection and how to create the best professional/client relationship.

Educational Resources is comprised of Coast-To-Coast Storage, Construction Process International Inc., DBCI, Mako Steel Inc., Online Self Storage Inc., PTI Integrated Systems and SMD Software Inc. The group plans to host three to four seminars around the country each year. For more information, call 866.295.0308; visit www.developingselfstorage.com.

BETCO Holds Building Giveaway

Article-BETCO Holds Building Giveaway

Statesville, N.C.-based BETCO Inc., a single-source manufacturer of self-storage buildings, will host another if its free-building giveaways at the annual convention and tradeshow of the Texas Mini Storage Association, Sept. 18-21, at the San Antonio Convention Center. The company has hosted similar giveaway programs at past events with great success.

BETCO will raffle a 30-by-100-foot, prepainted, metal self-storage building, including exterior, flush column and header systems; interior partitions, columns and roof beams; a 3-inch-high standing-seam roof; 20 roll-up doors; gutters and downspouts; engineered drawings; and all fasteners and sealants necessary to erect the building. Show attendees can register at the BETCO booth anytime during tradeshow hours on Tuesday, Sept. 20. The drawing for the winner will be held the same day at approximately 4 p.m. Entrants must be present to win. For more information, contact Steve Kuykendall at 888.891.2335; e-mail [email protected].

On The Move Participates in Ford Celebration

Article-On The Move Participates in Ford Celebration

Due to their companys January 2005 launch of a new one-way truck-rental program that uses Ford trucks exclusively, Kirk Nash, president and CEO, and Matthew Davis, national sales and insurance manager, of On The Move Inc. were invited to attend and display three of their newest vehicles at Ford Motor Co.s centennial celebration in San Antonio. In business since 1992, Boerne, Texas-based On The Move provides trucks for purchase or lease as well as accessories and insurance. Its one-way fleet is provided and maintained solely by Ford. Its program differs from competitors in that franchisees receive 50 percent of all rentals, sending dealers receive 20 percent, and receiving dealers get 5 percent. The anniversary event was featured in Detroit News and Detroit Free Press. For more information, visit www.onthemovetrucks.com.
On the Move Truck

Storage Deluxe Launches Student-Storage Program

Article-Storage Deluxe Launches Student-Storage Program

Storage Deluxe, an owner, developer and manager of self-storage facilities in the New York region, launched an aggressive college-student storage program in areas surrounding the companys 19 sites. In May and June, Storage Deluxe rented units to more than 2,000 college students in New York City; Pennsylvania; and Westchester, Conn. It expects the program to double in 2006. For more information, visit www.storagedeluxe.com.

Republic Western Returns to Self-Storage

Article-Republic Western Returns to Self-Storage

After being placed on administrative supervision by the Arizona Department of Insurance (ADOI) in May, Republic Western Insurance Co. (Repwest), a subsidiary of AMERCO, has returned to offering self-storage owner and tenant insurance. ADOI issued an Order Abating Supervision on June 9, permitting the company to return to the storage marketplace. Repwest has been domiciled in Arizona as a property and casualty insurance company since 1973. It employs 250 professionals and operates claims-adjusting offices in seven states. Its tenant insurance, Safestor, is offered at 1,000 self-storage locations across North America. For more information, contact Doug Bell, vice president of marketing, at [email protected].

Trachte Adds Erection Services

Article-Trachte Adds Erection Services

Sun Prairie, Wis.-based Trachte Building Systems, a manufacturer and supplier of pre-engineered steel building systems for the self-storage industry, added building erection to its program of services. The company already offers options for building consultation, design and delivery. Now developers can also have Trachte erect their buildings on a prepared site. The turnkey service includes coordination of the erector, scheduling, payments and installation. It applies to the companys full line of self-storage products including single- and multistory storage, variable roof pitch, climate-control storage, boat/RV storage, partition systems and canopy structures. For more information, call 800.356.5824; visit www.trachte.com.