Union Realtime LLC, a technology-services company that specializes in self-storage development data, has launched “The Compass Report,” an on-demand feasibility document that can be generated when using the company’s pay-per-use analytics platform, Radius. Reports can be run for any U.S. address and include details on supply/demand, competitive landscape, current and historical rental rates, demographics, development activity, and other site-specific information, according to a press release.

Designed for self-storage appraisers, brokers, developers, investors and owners, the report tool was developed in collaboration with TCF Bank “to understand the underwriting process and the metrics that matter most when evaluating a self-storage investment,” the release stated.

“Up until now, reliable and accessible third-party information has been desperately lacking in the self-storage industry,” said Jeff Bass, senior vice president of self-storage lending at TCF Bank. “Reviewing The Compass Report is now an essential step in our underwriting process.”

“Feasibility reporting has been by far the most requested feature by our users, and we are thrilled to work with one of the leading lenders in the self-storage industry to bring it to market,” added Cory Sylvester, principal at Union Realtime. “TCF Bank has been instrumental in the design by providing guidance on the metrics that matter most to the investor and lender community.”

Based in Wayzata, Minn., TCF Bank is a wholly owned banking subsidiary of TCF Financial Corp., a bank holding company.

Union Realtime uses technology solutions to deliver self-storage data and analysis. Among its offerings is Radius, an online tool that tracks market demographics, occupancy and rental rates in addition to new and existing self-storage supply. Its tracking data is updated daily.

As a self-storage operator, my company is always looking for ways to promote its locations online. So, when Google announced a new Google My Business (GMB) feature called Google Posts, we had to give it a try.

If you’re not familiar with this offering, don’t worry. Not many people are yet, although it’s been around for more than a year. Posts appear in Google search results and maps as part of your GMB listing’s knowledge graph. (See example below.)

Since we began using the feature a few months ago, we’ve seen a dramatic increase in our conversion rates. For the month of June, our click-through rate was 2.3 percent from organic search, 3.6 percent from our standard GMB listing and a whopping 8.1 percent from Posts. That’s a 125 percent increase! For some individual locations, we’ve seen percentages as high as 20 percent.

Trial and Error

Once we started using Google Posts, we experimented with the types of messaging to use. Originally, we were posting longer messages focused on facility features and the benefits of storing with us. While we received some clicks from these, they were low. We eventually discovered that by shortening the message and focusing on specials and promotions, we were able to dramatically increase the click-through and conversion rate.

We also tested various photos and graphics to appear next to the text portion. We found that simple graphics promoting sale messaging worked better than facility or storage-unit images. Google also accept video clips in this space, which we tried; but it decreased activity. The reason could be the video initially appears as a static image with the play button in the middle. If the image isn’t eye-catching enough, the video doesn’t get played.

Creating a Post

To create a Google Post, do the following:

• Sign in to your GMB account.
• If you have multiple locations, choose “Published Locations,” and then click on the menu to the right of the location for which you’d like to post.
• Next, click on “Dashboard,” and then “Posts” in the left navigation panel.
• Click on the “Create Post” icon in the lower righthand corner, or click in the box that reads, “Write Your Post.”
• When the “Create Post” screen appears, choose the type of post you want to create. Google has expanded the options. You can now choose between “What’s New,” “Events,” “Offers” and “Products.”

Post Types

Here’s a quick description of the four types of Google Posts you can create:

• What’s New: This allows you to announce new happenings at your company. It includes up to 300 words of text and an optional photo or video. You’ll also have the option to add a call to action (CTA) such as “Buy,” “Book,” “Get Offer,” “Learn More,” “Order Online” and “Sign Up.” We typically use the “Get Offer” CTA since we’re usually promoting a sale.
• Events: This allows you to promote an event at your business. It includes fields for title, details, and start/end dates and times.
• Offers: This allows you to advertise facility promotions. It also includes fields for title, details, and start/end dates and times, but you can also add a coupon code, link, and terms and conditions.
• Products: This allows you to post an individual product or service along with the price, details and a CTA.

Important Details

Google will display up to 10 posts in its carousel, but only the first two are visible on the search engine results pages. Also, to ensure content freshness, Google will remove your post after seven days. You can edit current posts at any time, but then you must post something new. You’ll receive an e-mail alert when a post is about to expire. If you have several locations, this is a good way to keep track of which ones you need to update.

It’s also important to know that Google doesn’t currently allow you to re-post past messages. We usually delete our old posts anyway, as they typically relate to sales and offers that are expired.

To track your clicks effectively, you’ll want to implement UTM (Urchin Tracking Module) codes into your landing-page URL. You can do this by using the Campaign URL Builder tool on the Google Analytics Demos & Tools site. For example, we use this format: http://[domain.com/location]/?utm_source=GMB&utm_medium=Banner&utm_campaign=GMB_Post_[location].

If you’re looking for a free way to promote your business, Google Posts may be the way to go. It’s been very effective for us, not only in attracting visitors, but in getting them to convert to renters.

Derek Hines is a writer for West Coast Self-Storage, a self-storage management, acquisitions and development company with facilities in California, Oregon and Washington. He writes extensively on all subjects related to self-storage. For more information, visit www.westcoastselfstorage.com. 

The pilot of a small aircraft clipped a building at Spencer Mini Storage in La Porte, Texas, before crashing into a nearby wooded area. The 39-year-old pilot had just taken off from nearby La Porte Municipal Airport around 6 a.m. when he experienced engine trouble and decided to land the Cessna T-36, according to a source.

The pilot sustained only minor injuries and was the only person on the plane. It isn’t clear if the self-storage facility incurred any damage.

The Federal Aviation Administration and Texas Department of Public Safety are assisting the National Transportation Safety Board with the investigation.

Sources:
CW39, Pilot Safe After Crashing Into Storage Building, Landing Plane in La Porte Woods, Police Say
Chron, Pilot Walks Away From Crash Landing Near La Porte Airport

East Penn Self Storage, which operates several facilities in Pennsylvania’s Lehigh Valley, has opened a new facility in Kutztown, its 12th in the region. The property at 100 Arrowhead Court is in the Arrowhead Industrial Park, just off U.S. Route 222 in Maxatawny Township. It’ll be operated as a satellite location to the facility at 8235 Schantz Road in Breinigsville, according to the source.

Property amenities include state-of-the art security cameras, computerized keypad-entry systems, convenient gate hours, truck rentals, package acceptance and climate-controlled units, according to the company website.

Headquartered in Center Valley, Pa., East Penn is owned and operated by The Fantozzi Family. The company opened its first self-storage facility, in Emmaus, Pa., in 1989.

East Penn has another project underway in Orefield, Pa. Once permits are approved, construction will begin at 3176 Route 100, just north of Claussville Road, according to co-owner Vince Fantozzi.

Source:
The Morning Call, East Penn Self Storage Opens 12th Facility

Update 8/22/18 – The Decatur Planning Commission has recommended against SIG’s proposed Space Shop Self Storage project. In reviewing the full proposal, commissioners indicated the facility wouldn’t fit the character of the area, and the required zoning change would set a bad precedent that could outweigh any financial benefit, according to the June 12 meeting minutes.

Several members of the community also spoke against the plan during public comment, urging officials to restrict commercial development to existing districts.

The commission was scheduled to review the issue on Monday.

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6/1/18 – Officials in Decatur, Ga., are considering a request from Stein Investment Group (SIG), an Atlanta-based private real estate investment firm, to annex property into the city and rezone it to allow a Space Shop Self Storage development. SIG intends to build a three-story facility on a little more than an acre at 1119-1123 Clairmont Road. The company has also asked for a special exception to reduce the off-street parking requirement for climate-controlled self-storage from 167 spaces to 13, according to the source.

"The applicant is an experienced developer of several self-storage [facilities] and is confident the 13 spaces provided on the attached site plan will be sufficient for the customers and employees," SIG officials wrote in the application.

The site is comprised of three parcels, two of which are outside the city limit. “The approval of the special exception will be a positive impact because it will allow for the redevelopment with an attractive building and increase in tax base for the city, without demand on schools or other city infrastructure,” SIG officials wrote.

SIG has been active in the Atlanta metropolitan self-storage market. It’s currently working with Eden Rock Real Estate Partners to convert a former school-administration center in the Hammond Park neighborhood of the city to more than 100,000 square feet of storage space. Last year, it sold three facilities comprising more than 300,000 square feet to self-storage real estate investment trust Life Storage Inc. and a joint-venture partner.

Space Shop operates nine self-storage facilities in the Atlanta market and one in Goose Creek, S.C.

Headquartered in Atlanta and founded in 2012, Stein Investment has developed, managed and sold more than 1.75 million square feet of self-storage space. Its current portfolio includes approximately 1.2 million square feet of self-storage, with nearly 600,000 square feet under development in Georgia and North Carolina.

Sources:
Decaturish.com, East Lake MARTA Plan, Storage Facility Will Be on Aug. 20 Decatur City Commission Agenda
City of Decatur, June 12, 2018 Draft Meeting Minutes
Decaturish.com, Decatur Considering Annexation and Rezoning Proposal for Storage Business on Clairmont Road

Kingdom Storage Holdings, which acquires and develops self-storage facilities, recently partnered with Youth With a Mission (YWAM) to build two charity homes in Ensenada, Mexico. These are the fourth and fifth houses the company has built and donated to Mexican families as part of YWAM’s “Homes for Hope” program, according to a press release. Kingdom covered the cost of the buildings and furnishes as well as travel expenses for volunteers.

The program is run by the YWAM San Diego/Baja, Calif., chapter. To date, it has produced more than 3,000 Mexican homes. It takes two to three days for a team of 15 volunteers to complete a house, the release reported. The 320-square-foot residences are made of wood on a concrete base and are outfitted for electricity.

To qualify for a home, families must complete an application process and meet certain criteria. In addition to needing quality shelter, they must earn less than $100 a week and include children under 18. They must also have rights to the land on which the home will be built, according to the YWAM website.

“Our goal for these trips is not only to build a house for a deserving family—that up until this point may have lived on a dirt floor—but also for others to share in the gratifying experience of being in mission,” said Kingdom Founder Scott Meyers, who also owns Self Storage Investing, which assists and educates industry investors.

Based in Fishers, Ind., Kingdom acquires, develops and syndicates self-storage projects nationwide through its various partners. It’s the asset manager for approximately 2 million rentable square feet of storage across 23 projects in 12 states.

Founded in the 1960 by Loren Cunningham, YWAM is a nonprofit Christian missionary organization. Today, it includes more than 15,000 volunteers from 181 countries.

Source:
YWAM San Diego/Baja Chapter, Website

Phoenix-based U-Haul International Inc., which operates more than 1,500 self-storage facilities across North America and frequently recycles existing structures for its new locations, plans to convert a former Toys R Us store in Battle Creek, Mich., to self-storage. The proposal includes adding a showroom and interior storage units to the 46,700-square-foot building at 5740 Beckley Road. The company will also build three new structures on the property, according to the source.

“We think we have a really good space for our business model,” said Jon Gilmore, president of the U-Haul Co. of Western Michigan. “We're really excited to get in there and spend about $5 million on this development to clean up this site.”

The Battle Creek City Commission introduced an ordinance during its Aug. 14 meeting to rezone the property, enabling the project to move forward. Commission members will take a final vote on Tuesday. An action summary from planning manager Christine Zuzga states the rezoning would allow for “productive use of the property that contributes to the tax base” and wouldn’t require any investment from the city.

U-Haul has dozens of conversion projects underway in several states. Its latest is the former Eagle Electronics building in Colorado Springs, Colo. The property is near the U.S. Air Force Academy.

Established in 1945, U-Haul owns more than 32 million square feet of storage space. The company’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, has led to dozens of conversion projects in recent years.

Source:
Battle Creek Enquirer, U-Haul to Revamp Former Toys "R" Us Building for Moving and Self-Storage Facility

 

An affiliate of Prime Group Holdings LLC, a New York-based real estate group that owns self-storage and other real estate interests, has acquired two storage properties in Massachusetts for a combined $6.6 million from an affiliate of retailer Koopman Lumber & Hardware. The deal includes land as well as Grafton Self Storage in Grafton, Mass., and Northbridge Self Storage in Whitinsville, Mass., according to the source.

The Grafton site is about 7.5 acres. The Koopman Family retained about half of the original 15-acre parcel, which includes its store and other retail businesses along Route 122.

Northbridge Self Storage on Douglas Road, which opened about a year ago, sold for $3.6 million. The phased project has city approval for eight storage buildings, the source reported.

Koopman Lumber & Hardware operates seven retail locations and two distribution centers in Massachusetts.

Headquartered in Saratoga Springs, N.Y., Prime Group owns and manages more than 200 self-storage facilities in 23 states. Its operating portfolio comprises more than 13.5 million rentable square feet.

Source:
Worcester Business Journal, Koopman Hardware Family Sells Land to Storage Business for $6.6M

Ever have a moment at work when you think, “I wish I’d known that sooner?” Or maybe you’ve had a heated interaction with a tenant and thought, “Why didn’t I say that instead?” Operating a self-storage facility comes with many challenges, and you may not always have the right answer for every situation. Fortunately, there’s always room from growth, and your peers are here to help!

In a recent thread on Self-Storage Talk, the industry’s largest online community, members are sharing their words of wisdom on a variety of facility-management topics including hiring, customer service, rental agreements and much more. Read their insight and share your own in this helpful thread.