Devon Self Storage released an operations update covering the company’s performance during the first six months of 2010 in its first-ever quarterly newsletter. Written by Angus Morrison, senior vice president of operations, the update covers company expansion, occupancy, rental-inquiry activity, Website activity, marketing efforts, closing ratios and more.
 
From Jan. 1 through June 30, Devon added three third-party management sites to its portfolio and successfully integrated a larger 10-property portfolio into the company.
 
The company’s facilities gained a combined 66,198 square feet of net occupancy through the end of June. Devon Self Storage was also able to raise posted rents by nearly 8 percent and successfully restarted existing-tenant rent increases.
 
Rental-inquiry activity was fairly strong, with some regional exceptions, according to the update. The company’s 46 self-storage facilities received more than 16,948 inquiries in the first six months of the year. Devon Self Storage continues to see an increase in Web-based inquiries.
 
Devonselfstorage.com received 42,395 unique visits in the first half of the year, with 7,542 visits in June alone. Of the site’s visitors, more than 6,705 called a facility, 1,436 printed promotional move-in coupons, and 2,979 requested quotes. Overall, the company’s facilities had a total tracked-inquiry closing percentage of 46.7 percent. Of the closed leads, 80.3 percent were from walk-ins, 41.1 were from direct calls to facilities, and 24.3 percent were from the call center.
 
Devon Self Storage continues to focus on SEO (search engine optimization) and pay-per-click marketing. Yellow Pages, while a declining overall source of leads, is still a significant generator of activity, with more than 6,056 tracked calls from the first six months of the year for those sites with tracking phone numbers. Morrison said the company expects Internet leads to cost about $8 per lead depending on the market, while Yellow Page leads can cost $40 or more. For this reason, the company continues to strategically reduce Yellow Page expenditures while increasing its online focus.
 
The Devon operations team is led by April Noel, Jim Mooney, Michael Vinciguerra, Jerry Ostach and Jacob Steele.

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Construction is underway for New London Self Storage, a 300-unit facility in New London, Conn.

The developer, Len Goldstein, is the owner of Sign-A-Rama, which is located directly behind the new development. Goldstein is also the former owner of Goldy's restaurant in New London.

The facility will feature climate-controlled units, and security features including keypad entry, a security gate and perimeter fencing, and video surveillance. The business also expects to offer climate-controlled automobile bays that could be used to store classic cars and trucks.

Source:  The Day.com,  NL Businessman Building 300-Unit Self-Storage Site

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A-1 Self Storage has committed to a $500,000 matching gift to fund the Cristo Rey Network’s new financial sustainability model. The Cristo Rey Network is comprised of 24 high schools that provide Catholic, college preparatory education to urban young people who live in communities with limited educational options.

The grant will support the implementation of the Cristo Rey Network’s shift to a diversified revenue plan by matching school-based revenue and new foundation revenue dollar for dollar up to a maximum of $500,000.

“Since the inception of the Network Center Office, 80 percent of the funding has been from two national foundations,” said Robert Birdsell, CEO for Cristo Rey Network. “The new revenue model, comprised of multiple stakeholders, is crucial for the ongoing success of the Network and our schools.”

The major change projected in the revenue model is the amount of school-based revenue the Network Center Office generates from Cristo Rey Network schools. Currently, the Network Center Office receives a minimal fee from each Network school after its third year of operation.

In three years, the Cristo Rey Network anticipates that at least 40 percent of the Network Center operations will be funded by school-based revenue and 60 percent by national and corporate foundations, college partners, individual donors, and the Network board of directors.

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In an effort to rebuild areas impacted by deforestation, Watson & Taylor Self Storage has committed to plant 10 trees for every new self-storage customer in August.

The Addison, Texas-based self-storage company has partnered with Trees for the Future with the goal of planting more than 5,000 trees. Trees will be planted in areas desperately needing reforestation to sustain natural and human needs.

"As the world becomes more aware of our need to be more environmentally responsible, we felt strongly that our involvement in this program is the right thing to do. Countries like Haiti are suffering enormous consequences due to deforestation and we're certain we can help," said George Watson, principal of Watson & Taylor Self Storage.

In business for 35 years, Watson & Taylor Self Storage owns or operates 23 storage facilities in Texas.

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Boat and RV owners often find there are limited places in which to store their prized possessions. Many cities and homeowners’ associations have banned the storage of larger vehicles in driveways and on curbsides, forcing boat and RV owners to seek alternative storage. In addition, a key requirement of storage for most boat and RV owners is their vehicles’ protection from the elements including rain, wind, snow, water and sun.

In fact, the sun is the single greatest factor in the deterioration of boats and RVs. Solar radiation destroys the finish on these vehicles and weakens materials. Heat from the sun causes materials to expand and then shrink when the temperature cools. This constant cycle can cause irreparable damage.

To keep boats and RVs out of the harmful rays of the sun—and other inclement weather—many owners are turning to self-storage to safely and securely store their vehicles. Smart self-storage operators are exploring the use of solar carports as an eco-friendly and lucrative alternative to uncovered vehicle storage.

Criteria for Solar Carports

RV- and boat-storage facilities not only provide a valuable service to customers, this niche product can also have an excellent return on investment for the self-storage operator. Now, this investment can be enhanced even more with photovoltaic (PV) systems, which allow a storage facility to harness the sun’s energy to generate power while providing protection for RV, boat and vehicle storage.

As with any self-storage construction project, certain criteria must be met to achieve the best results. Sites suitable for PV systems must have an adequate source of sunlight, up to five hours daily; the building orientation should have a southern-exposed roof; and the carport should also have acceptable shading conditions. Other key components include:

• Solar panels, which convert sunlight to electricity.
• The solar support system. This has a dual purpose: supporting the panels that generate electricity and providing covered parking.
• Inverters, which convert DC power to utility-grade AC power.
• Monitoring equipment, which ensures all components of a PV system operate at expected efficiency levels.

Generating Revenue

Solar shading structures are an ideal way to generate revenue for shaded parking while offsetting rising utility costs. Electricity rates have spiked dramatically in the last five years, leaving many operators scrambling to finds ways to cover the extra expense. 

PV-solar carport systems can also be a revenue generator for some operators. There are several areas of the country where businesses that produce more energy than they use can sell the power back to the electric company so it can be used as energy for other businesses. 

Financial Incentives

In states where solar is a much sought-after source of energy, such as Florida, the government offers hefty tax incentives to businesses investing in solar equipment. Grants, cash rebates and other enticements are also available from a variety of sources, including utility companies, to help offset the costs of PV systems.

Currently, the federal solar tax credit for commercial buildings is 30 percent for an eligible property. Net metering is also available in some states. Operators can use surplus energy from the spring to pay for extra power needed in the summer, for example.
 
Do Your Homework

If you’re considering adding a solar carport to your self-storage facility, you should first study what you’ll need to make a solar project work, structurally and financially. You should also understand the effect of site location and panel configuration, and how energy costs relate to a facility’s success.

Contact a qualified company that can coordinate the solar panel and canopy installation. A solar and construction professional will perform a site evaluation that allows the design and engineer team to determine the best placement and slope for the panels, which will ensure your facility achieves the greatest success.
 
To learn more about specific state and federal incentives, visit the Database of State Incentives for Renewable Energy at www.dsireusa.org.
 
Robin Heuer is chief operating officer, chief learning officer and a board member of iParkSolar, a developer of solar-integrated carports, RV/boat storage and integrated electrical-vehicle charging stations. For more information, e-mail [email protected].

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