Storage Choice Obtains $9.2M Refinancing for Three Texas Self-Storage Facilities

Jul 15, 2010

Storage Choice refinanced three of its self-storage facilities, totaling 1,670 units, for $9.2 million. The fixed-rate securitized loan is with JPMorgan Chase Bank.

The three properties are Storage Choice West Airport in Houston with 647 units; Storage Choice Mira Vista in Fort Worth with 547 units; and Storage Choice Dickinson in Dickinson with 476 units.
Colby Mueck, associate director of the Houston office of HFF (Holliday Fenoglio Fowler L.P.) arranged the refinancing.

Storage Choice is a Texas-based operator of self-storage facilities with a portfolio consisting of more than 5,500 units.

HFF has 17 offices nationwide, providing commercial real estate and capital markets services to the U.S. commercial real estate industry.

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StorageFront Search Engine Adds Bilingual Web Pages for Self-Storage Customers

Jul 15, 2010

StorageFront recently added bilingual Web pages to meet the needs of the growing Hispanic self-storage market.

According to a report from comScore, a marketing research company that provides marketing data and services to Internet businesses, the Hispanic online demographic is growing 50 percent faster than the overall U.S. online population.

Bilingual services enable companies to overcome cultural barriers and ensure their products and services reach a larger target audience. With this in mind, StorageFront President Rich Cray decided to make StorageFront the first self-storage search engine to have bilingual pages.

StorageFront hired professional interpreters to translate the StorageFront site into Spanish. To view the company’s website in Spanish, visitors simply click the Habla Espanol icon on the site’s front page.

“Our clients at StorageFront are thrilled with the bilingual feature, especially in the South, because a huge part of their customer base speaks Spanish as their first language, and oftentimes as their only language,” Cray said.

StorageFront launched in 2009 as an independent online marketing resource for the self-storage industry. A bilingual search engine and marketing portal, StorageFront serves storage owners and renters with an advanced directory comprising more than 40,000 U.S. storage facilities.

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Upickstoragesupplies.com, Wholesale Website

Jul 15, 2010

Upickstorage.com, the provider of an online facility-comparison shopping tool for self-storage customers, launched a new website at Upickstoragesupplies.com to provide wholesale product to self-storage operators. Facility owners and managers can purchase locks, moving and packing equipment, manager accessories, and maintenance supplies through the site.

Upickstorage.com hopes to extend its customer base, take advantage of cross-marketing opportunities, and help facility operators nationwide save money on their supply and marketing costs, according to a press release. Any facility owner who purchases product from Upickstoragesupplies.com will receive an in-kind trade of equal value from Upickstorage.com. By purchasing products, they will get online marketing for free.

“In these times of economic uncertainty, we facility owners are tired of getting nickel and dimed to death,” said Brandon Braud, president of sales and marketing. “We wanted to create a way for facility owners to buy the products they need to resell at their locations, and have the customers we send them regularly pay for those products. In essence, we wanted to make the entire Upick experience free.”

Upickstorage.com is an online portal that custom matches self-storage consumers with nearby facilities, allowing them to compare options and find the best prices.

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East Dorset Self-Storage Facility Hosts Habitat for Humanity Tag Sale and Auction

Jul 14, 2010

Habitat for Humanity will hold an auction and tag sale at A Safe Place Self Storage in East Dorset, Mass., July 24. All funds raised will be used to help Habitat build new and renovate existing homes in Bennington County for low-income families in need of safe, affordable housing. The homes will be built almost entirely by volunteers. There is no profit in the sale price and no interest charged on the mortgage.

Quality donations for the auction are still being accepted, and tax receipts will be provided. During the auction, major credit cards will be accepted.

Bennington Area Habitat depends entirely on locally raised funds and receives no financial support from Habitat International.

The tag sale and preview begins at 9 a.m., with the auction held at 10 a.m. Tent cover and refreshments will be provided; attendees are urged to bring chairs, as seating is limited.

Source: Manchester Journal, Habitat auction set for A Safe Place

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ISS Blog

Spelling Errers and Other Gramatical Mistackes!

Jul 14, 2010

Before shooting off a “You’re an idiot, Editor” e-mail to me, you should know I made the mistakes in the headline on purpose. How many of you caught it right away?

As an editor, I often read the same article, news item or blog several times. After a while, my eyes tend to put words and punctuation where they actually don’t exist, or I sometimes even gloss over blatant errors. We all make mistakes while typing quickly, our brains moving faster than our fingers. Or maybe we’re unclear about the spelling or correct usage of word and take a chance. But it becomes a problem when we don’t proof what we write before calling it done.

Earlier this week, a press release came across my desk from a storage company. The release had four misspelled words. Easy words, ones that most readers would likely catch. Was the writer in a hurry, typing quickly, then shooting it off to the news outlets? Did the author’s computer lack the spell-check function? Regardless, there’s no excuse for the sloppiness in this press release.

The goal of a press release is to attract attention. And while misspelled words and grammatical mistakes will attract the attention of an editor, it’s not the kind you want. Some editors, I’m betting, saw the errors in this news release, had a negative reaction and hit “delete” rather than posting it to their news outlet. Other editors likely corrected the mistakes while shaking their heads in wonderment. While I applaud the self-storage company for attempting to garner some publicity via a press release, the execution could’ve been so much better.

There are a few lessons we can learn from this example. First—and the most obvious—check your spelling and punctuation. Errors like these tell your reader, “I don’t care enough about your time to make sure I have everything correct.” If you don’t have a spell-check function in whatever software program you’re using, ask someone else to give your copy a read.

If you’re unsure about punctuation or word usage, there are a number of good websites you can turn to for guidance. Some good resources include Grammar Girl, Merriam-Webster or Your Dictionary.com, which includes this gem, 100 Most Often Misspelled Words in English.

Also, always, always proof your copy at least three times before considering it finished. Proof it on the computer screen and print it out so you can review a hard copy. Then ask someone else to proof it as well.

This should apply to everything you do—your website, brochures, rental agreements, press releases and other printed copy. Think of it the same way you do your facility’s curb appeal. Cracked asphalt, overgrown weeds and burned-out signage send a negative message to potential customers. So do brochures or rental agreements riddled with errors. Just like you take the time to ensure your facility is in top shape, put the effort into your printed and online material. You’ll find the extra effort will be well worth it.

Do you have a go-to grammar website you’d like to share? Want to relate your own story of writing-gone-bad? Post a comment below or head over to Self-Storage Talk, the industry’s best forum.

Westy Self Storage Awarded Partner of the Year by Dress for Success

Jul 14, 2010

Westy Self Storage was awarded Partner of the Year by Dress for Success of Mid-Fairfield County, a project of The WorkPlace Inc.

Westy Self Storage supported Dress for Success of Mid-Fairfield County as part of its Four for Four Charity Donation Drive. The self-storage company collected and delivered 3,684 pieces of interview-ready attire, including shoes and accessories, to Dress for Success over the past nine months.

Dress for Success of Mid-Fairfield County promotes the economic independence of disadvantaged women by providing professional attire, a network of support and the career development tools to help women thrive in work and in life.

“It is an honor to receive the Partner of the Year Award. Westy is proud to accept this on behalf on the entire community of Fairfield County. Without the contributions of so many, this notable distinction would not be possible,” said Joe Schweyer, district director of Westy Self Storage.

Westy continues to collect donations for Dress for Success at all six of its Connecticut facilities. Donations can be made every day during office hours.

With corporate headquarters in Stamford, Conn., Westy Self Storage spans the tri-state area with six facilities in Connecticut, three in New Jersey and seven in New York.

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Self-Storage Industry Expert Tom Litton Graduates From Auction College

Jul 14, 2010

Self-storage industry expert Tom Litton, who specializes in facility marketing and management, graduated last month from the World Wide College of Auctioneering in Mason City, Iowa.

Litton successfully completed a course of instruction that covers all phases of auctioneering and is taught by 18 professional instructors, many of whom are world auctioneering champions. He received training in real estate, automobile, farm, antique, charity, fundraising and specialty auctions, as well as schooling in the areas of auction law, vocal control, auction chant, bid calling, business management, auction marketing and auction networking.

Established in 1933, the World Wide College of Auctioneering has trained more than 35,000 auctioneers worldwide. The school has graduated more champion auctioneers than any other.

Litton began his career in the self-storage industry during its infancy and has managed more than 150 self-storage facilities in 11 states. Based in Lodi, Calif., he currently fee manages and consults throughout Australia, Canada, England, France and the United States through his company, Litton Property Management. He also runs Storage Auction Pros, which provides professional auction services for self-storage operators.

A regular speaker at the Inside Self-Storage World Expo, Litton will present his popular “Marketing and Sales Boot Camp” as well as an additional educational seminar as part of the ISS Expo in New Orleans, Sept. 29-Oct. 1. For details about his workshops and the show in general, visit www.insideselfstorageworldexpo.com.

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FBR Capital Rates Self-Storage REITs

Jul 14, 2010

FBR Capital Markets Corp., an investment bank serving the middle market, initiated coverage on four self-storage real estate investment trusts (REITs).

By initiating coverage, FBR will consider the REITs' past stock performance to observe indicators for future performance. It also released its first assessment of the four REITS.

Sovran Self Storage and U-Store-It Trust started with an Outperform rating. Public Storage and Extra Space Storage have a Market Perform rating.

An FBR analyst said the self-storage industry is slowly recovering, marked by a weak demand and low supply. However, the analysts said the REITs have a distinct advantage in today’s commercial sector and expect above-average operational performance from the industry as a whole.

Source: StreetInsider.com, FBR Capital Initiates Coverage on Self Storage REITs: Demand in Hibernation

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