CubeSmart, a publicly traded self-storage real estate investment trust and management company, has been named among the “2019 50 Most Engaged Workplaces” in North America by Achievers, an employee-engagement platform provider. The annual award, now in its ninth year, recognizes employers who display leadership and innovation in engaging their staff. The winners will be honored at an awards gala on Sept. 9, at the Harold Washington Library Center, in conjunction with the Achievers Customer Experience Conference.

“We believe that our teammates are the heart of CubeSmart, and the experiences they have working here matter to us,” said Christopher P. Marr, CEO and president of CubeSmart. “That’s why this recognition means so much to us. It confirms that the culture we work so hard to build and protect is truly special.”

A panel of 10 judges comprised of employee-engagement academics, industry analysts, thought leaders, journalists and influencers evaluated this year’s applicants. Winners were selected based on Achievers’ eight elements of employee engagement: leadership, communication, culture, rewards and recognition, professional and personal growth, accountability and performance, vision and values, and corporate social responsibility.

“The companies we honor have proven their forward-thinking directly leads to a more positive employee experience,” said Jeff Cates, CEO and president of Achievers. “Through the development of a people-first culture, the organizations epitomize an innovative, engaged and accomplished workforce.”

CubeSmart owns or manages 1,165 self-storage facilities across the United States. Its operating portfolio comprises 78.8 million square feet.

The Achievers Employee Success Platform provides tools for organizations of all sizes to help them reach higher levels of employee engagement. It’s a subsidiary of Blackhawk Network Holdings Inc., a provider of branded value solutions for businesses.

Sources:
CubeSmart, CubeSmart Recognized as One of the Achievers 50 Most Engaged Workplaces in North America
PR Newswire, Achievers Honors the 50 Most Engaged Workplaces with its Ninth Annual Awards

Inside Self-Storage (ISS) has published its 2019 Technology Digital Issue, an all-new publication including in-depth articles about modern innovation and tools to improve business efficiency, performance and the customer experience. Written by industry experts, it provides information on smart devices and systems, security, self-service kiosks, staff training, management software, tech support, and more. Specific topics are:

• How the Internet of Things is transforming the way self-storage operators do business
• Three major technology developments in access control and property security
• How a kiosk can act as an extension of the management office and staff
• Strategies for training staff on new technology
• Tips for choosing management software
• What to expect from tech support and making the most of vendor resources

The publication is available for free download from the ISS Resource Center under “Digital Issues.” Past issues on other storage-related topics can be viewed through the same page.

For more than 28 years, ISS has provided informational resources for the self-storage industry. Its educational offerings include ISS magazine, the annual ISS World Expo, an extensive website, the ISS Store, and Self-Storage Talk, the industry’s largest online community.

Vern Frykholm Jr., co-owner of Sequim, Wash.-based All Safe Mini Storage, recently donated $2,000 on behalf of his self-storage business to the Northwest Colonial Festival, an annual summer re-enactment of the battles of Lexington and Concord from the American Revolution. The sum was in addition to a $12,000 bestowment made to the event by the Frykholm Foundation and a $2,000 personal gift provided by Vern Frykholm Sr., a veteran of World War II and the Korean War, according to the source.

The Frykholm Family has been a longtime supporter of the festival, which is hosted by George Washington Society and the Northwest Colonial Reenactors Association on the grounds of the George Washington Inn in Port Angeles, Wash. The luxury bed and breakfast is a West Coast replica of Washington’s Mount Vernon home. This year’s festival will be held Aug. 8-11. In addition to four days of reenactments, the event includes period artisans, colonial demonstrations and kids’ activities.

Frykholm Jr. is well known in the area for his portrayal of George Washington. In addition to his annual appearances during the colonial festival, the self-storage owner has portrayed Washington in classrooms across the state as well as for private parties and groups. Since he began portraying Washington in 2012, he’s made more than 300 appearances in front of more than 20,000 people, according to his website.

Frykholm Jr. co-owns All Safe with Tom Schaafsma. The company operates eight self-storage facilities in Sequim under the All Safe brand name and two as Rainshadow Storage.

Sources:
Sequim Gazette, Frykholms Help Fund the Festival
Northwest Colonial Festival, Facebook Page
George Washington Speaks, Website
All Safe Mini Storage, Website

Update 8/5/19 – The 50-property portfolio purchased in June by SROA Capital Fund VII was acquired from HVP III, a joint venture formed in 2015 between self-storage real estate investment trust (REIT) CubeSmart and real estate investment firm Heitman LLC. The sale price was $293.5 million, according to the REIT’s second-quarter earnings announcement.

The properties were part of a 68-property portfolio owned by the joint venture. On June 6, CubeSmart acquired Heitman’s 90 percent ownership interest in the venture’s remaining 18 properties for $128.3 million. The REIT paid $120 million in cash and $8.3 million in proceeds earned from the joint venture’s sale of the 50 facilities, the release stated.

As SROA rebrands the portfolio under Storage Rentals of America, CubeSmart continues to manage most of the facilities, according to Tim Martin, CubeSmart’s chief financial officer.

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7/16/19 – An investment fund managed by SROA Capital LLC, an equity investor focused on the self-storage industry and operator of the Storage Rentals of America and Storage Zone brands, has acquired a 50-property portfolio across six states. SROA Capital Fund VII LP, a joint venture between investment and state-pension funds, made the purchase. The properties comprise more than 3.15 million net rentable square feet of self-storage in 21,787 units. They’ll be rebranded under Storage Rentals of America, according to a press release.

The seller was a joint venture between an unidentified institutional-investment adviser and a publicly traded, self-storage real estate investment trust. The deal, which includes facilities in Florida, Georgia, Michigan, North Carolina, South Carolina and Tennessee, is believed to be the largest “non-merger transaction” in industry history, the release stated.

“The level of interest generated by the portfolio transaction was a strong indicator of the health of the self-storage market, overall,” said Aaron Swerdlin, vice chairman of Newmark Knight Frank (NKF), the real estate firm that represented the seller. “Its successful sale gives the industry confidence that self-storage remains one of the strongest product types, one in which institutional investors are still eagerly interested.”

The portfolio is comprised of “mature properties with a long, stable cash flow history,” according to Kenneth Cox, executive managing director of NKF, who co-leads the company’s Self Storage Group with Swerdlin. “The self-storage sector continues to be well-positioned to deliver exceedingly strong operating metrics,” Cox said. “The headline risk remains centered on new supply, but interest rates and stable revenue growth are driving any surprises to the downside.”

A May filing with the U.S. Securities and Exchange Commission indicates that SROA Capital Fund VII intended to raise up to $250 million.

Based in West Palm Beach, Fla., SROA Capital is a real estate investment company focused on the acquisition and operation of self-storage properties nationwide as well as direct-equity investments with developers. The company operates more than 7 million rentable square feet of storage space at 140 properties. In 2017, it changed its name from Elite Stor Capital Partners LLC to better align with the Storage Rentals of America brand name. It acquired the Storage Zone portfolio in Ohio last year.

NKF is a commercial real estate advisory firm that provides valuation and consulting services for the self-storage industry. Its global workforce includes 16,000 professionals operating out of 430 offices on six continents.

Source:
SpareFoot Storage Beat, CubeSmart Joint Venture Unloaded 50-Facility Portfolio for $294 Million

Although it might seem like most self-storage operators are conducting their auctions online these days, not everyone has made the leap. While it’s true that many of the real estate investment trusts have largely adopted the online method, they only make up 15 percent to 20 percent of the industry; and even they’re not using an online platform 100 percent of the time.

If you haven’t made the shift to online auctions, you’re not alone or behind the times. There hasn’t been an overarching verdict in the industry about whether a live or online format is best. Still, online sales have become increasingly popular, with more self-storage operators are using them every day. You might find yourself thinking about your best practices for lien sales. How do online auctions compare to live ones? What changes can you expect if you move to an online platform? Let’s take a look.

The Similarities

The premise of an auction is the same whether it’s live or online: Property is sold to the highest bidder. Your goal is to have a “commercially reasonable” sale and recover the most amount of money you can toward the debt owed to you by the tenant.

Whether you use an auctioneer or an online platform, you’ll have to pay fees for its use. That said, you might find the fees are typically lower for an online platform. This is because it doesn’t require an auctioneer to drive to the facility, using his vehicle and gas. The overhead is simply lower for an online sale.

Whether your auction will be live or online, ask how the provider will advertise and bring bidders to your sale. The single biggest failure of any auctioneer or auction website is not selling the unit.

Many of your rules and procedures surrounding auctions will remain the same regardless of format. You’ll provide winners a certain amount of time to clean out their units following the sale. You’ll decide when and how they can access the property. You’ll ask that they respect your property, don’t use your dumpster, don’t leave garbage behind, don’t smoke on site, etc. You’ll identify which methods of payment you accept. Whichever auction format and provider you choose, you’ll want to make sure you aren’t prevented from enforcing your policies.

The Differences

While some things remain the same, there are noticeable differences between live and online lien sales. First, every convert will say his favorite thing about online auctions is they eliminate the need for an “auction day.” You no longer have 50 to 100 people showing up at your property making a mess of your site. No more parking and traffic issues. You no longer need to schedule additional staff or close your office to accommodate the sale. Only your winners will visit your property, and that’s to pay for and collect their goods. They likely won’t even come at the same time. Online auctions don’t create the same disruption to your operation as live.

But maybe you don’t think this lack of a crowd is a good thing. Certainly, there’s an element of excitement in live auction calls. The reason auctioneers talk fast and chant is to create enthusiasm and inspire people to bid more.

To emulate live auctions, most online platforms have adopted a “soft-close” policy. This means if a bid is placed in the last minute of the countdown, the timer will extend another minute or two or three. This allows bidding to continue until the highest price has been reached. The soft close also prevents “sniping” or sneaking in a bid at the last second, which is a common tactic in an online auction. Bidders want to sneak their offer in last so nobody has the opportunity to outbid them.

Often, but not always, online bidders will be anonymous, which gives you a better chance of recovering the most debt. In a live auction, competition can drive up the bid, but it can also lead to collusion to save money. This happens when two bidders get together and split the cost of a unit rather than bid against each other. The anonymity of online auctions prevents this from happening.

What to Expect Online

If you’re thinking about making the move to an online platform, there are some things you should know. An online auction is most successful if the listing includes 10 to 15 clear, high-quality photos of the unit from several angles. It isn’t necessary to go inside or move items around, but the better your photos, the more money you’re likely to make. Bidders like to zoom in to examine bar codes and serial numbers on unit contents. Looking at the pictures for several days gives them a much better chance to decide what’s in the unit than the five minutes live bidders have while standing in front of the unit door with a flashlight.

Though initially hesitant to embrace online auctions because they brought more competition, bidders have come around in recent years. They’ve discovered it’s far less of a time investment. They don’t have to be out in extreme temperatures. They know if they’ve won, and they don’t spend the day in an auction caravan only to go home empty-handed.

There are many factors to consider when deciding on an auction method. What do you consider a success? Do you want the unit cleaned out as quickly as possible or to recover the most debt? Do want minimal disrpution? Do you like the human aspect of interacting with an auctioneer and live crowd? Answering these basic questions will help you decide which procedures and providers are the best fit for you.

Cheli Rosa is an auctioneer and strategic account manager for StorageTreasures, managed by OpenTech Alliance Inc., a Phoenix-based provider of self-storage kiosks, call-center services and other technology. With nearly a decade of industry experience, she helps her clients carry out successful auctions and increase their debt-recovery percentages. She regularly speaks at industry events and contributes to self-storage publications. For more information, visit [email protected]; visit www.opentechalliance.com.

The five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc.—have released financial statements for the quarter that ended June 30. In general, the companies showed gains in key areas, particularly funds from operations (FFO) and net operating income (NOI). Occupancy figures tended to stay about equal or showed slight declines.

“We had a very active and productive second quarter,” said Christopher P. Marr, president and CEO of CubeSmart. “We remain focused on maintaining a disciplined approach to capital allocation and generating attractive risk-adjusted returns for shareholders.”

“We are pleased to have completed the planned recycling of selective assets from mature, lower-rental-rate stores into facilities in lease-up with higher rental rates and growth prospects,” added Joseph Saffire, CEO of Life Storage. “Our acquisition pipeline remains strong, with the inclusion of stores under contract in new strategic markets with attractive demographics. Second-quarter results were solid operationally, having achieved the high end of our adjusted FFO guidance range, and we remain diligent in continuing to drive revenue growth and control costs as our markets absorb new supply.”

CubeSmart

CubeSmart reported FFO per share of $0.42 during the quarter, a 2.4 percent year-over-year increase. Same-store NOI at its 467 facilities grew 1.3 percent year over year. The company attributed this to a 2 percent growth in revenue and a 3.8 percent increase in operating expenses. Same-store locations contributed 94.2 percent of the REIT’s property NOI during the quarter.

Same-store physical occupancy was 93.7 percent as of June 30, down from 94.1 percent last year. The company’s total-owned portfolio, representing 516 facilities and comprising 36 million square feet of rentable space, had a physical occupancy of 91.6 percent at the end of the second quarter.

CubeSmart acquired 21 properties during the quarter for $148.8 million, with seven each in Massachusetts and South Carolina, two each in Florida and Tennessee, and one each in Arizona, Georgia and North Carolina. On June 5, the REIT’s joint venture, HVP III, sold 50 of its 68 facilities to SROA Capital Fund VII LP, managed by West Palm Beach, FL-based real estate investment firm SROA Capital LLC, for $293.5 million. On June 6, CubeSmart acquired its joint partner’s 90 percent ownership interest in the venture’s remaining 18 properties for $128.3 million.

On May 14, the company declared a dividend of 32 cents per common share, which was equal to the previous quarter. The dividend was paid on July 15 to common shareholders of record on July 1.

CubeSmart owns or manages 1,164 self-storage facilities across the United States. Its operating portfolio comprises 78.8 million square feet.

Extra Space Storage Inc.

Same-store revenue and NOI increased 3.9 percent compared to the same period in 2018. Core FFO, excluding adjustments for non-cash interest, was $1.22 per diluted share, resulting in 6.1 percent growth compared to the second quarter the previous year. Same-store occupancy was 93.6 percent as of June 30, which was down from 94.2 percent year over year.

During the quarter, the company acquired one facility at Certificate of Occupancy and completed one development project for a total investment of about $20.2 million. In conjunction with joint-venture partners, the REIT acquired 11 operating stores for approximately $228.5 million, of which the company contributed $36.6 million. It also sold one facility for $11.8 million.

The company paid a quarterly dividend of 90 cents per common share, which was up from 86 cents the previous quarter. It was paid on June 28 to common shareholders of record on June 14.

Headquartered in Salt Lake City, Extra Space owns or operates 1,752 self-storage properties in 40 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 1.2 million units and 134 million square feet of rentable space.

Life Storage Inc.

Same-store revenue grew 2 percent, while same-store NOI increased 2.4 percent, year over year. FFO for the quarter was $1.45 per fully diluted common share, compared to $1.39 for the same period in 2018. Adjusted FFO was $1.42, compared to $1.39 a year ago.

Net income attributable to common shareholders for the second quarter was $40.7 million, or $0.87 per fully diluted share. For the same period in 2018, net income attributable to common shareholders was $39.3 million, or $0.84 per fully diluted common share.

Revenue for the company’s 505 wholly owned stabilized facilities increased 2 percent year over year, helped by a 3 percent growth in rental rates and partially offset by a decrease in average occupancy of 100 basis points. Overall occupancy as of June 30 was 90.8 percent, with units renting for an average of $14.27 per square foot.

During the quarter, the REIT acquired four properties for approximately $43.2 million. Three of the facilities are in Cleveland, Ohio, and one is in Jacksonville, Fla.

Subsequent to the end of the quarter, the company approved a quarterly dividend of $1 per common share, which is equal to the previous quarter. It was paid on July 26 to shareholders of record on July 16.

Based in Buffalo, N.Y., Life Storage operates more than 800 self-storage facilities in 28 states and Ontario, Canada. Its portfolio of owned and managed facilities comprises more than 57 million square feet.

National Storage Affiliates Trust (NSAT)

Core FFO per share was $0.38 during the second quarter, an 11.8 percent year-over-year increase. Its net income was $17.7 million, a 36 percent increase compared to the same period in 2018. The increase was primarily attributed to NOI generated from 76 wholly owned properties acquired during the previous 12 months. Same-store NOI was up 5.5 percent, driven primarily by a 4.7 percent increase in same-store total revenue and a 2.8 percent increase in same-store property operating expenses.

Same-store average occupancy was 89.6 percent, up from 89.2 percent during the same period in 2018. Average annualized rental revenue per occupied square foot for same-store facilities was $11.81 during the quarter compared to $11.38 in 2018.

During the quarter, the company acquired 24 wholly owned facilities across eight states for $185.3 million. The properties comprise about 1.8 million net rentable square feet in approximately 12,300 units.

On May 22, the company declared a quarterly dividend of $0.32 per common share, which was up from 30 cents the previous quarter. It was paid on June 28 to holders of record on June 14.

Headquartered in Greenwood, Colo., NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas throughout the United States. The company has ownership interest in 729 storage facilities in 35 states and Puerto Rico. Its portfolio comprises approximately 46.5 million net rentable square feet. It's owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.

Public Storage Inc.

Revenue for same-store facilities increased 1.9 percent, or $11.5 million, over the same quarter in 2018, primarily because of higher realized annual rent per occupied square foot. Operations costs for same-store facilities increased 5.1 percent, or $8.1 million, compared to the previous year.

FFO was $2.57 per diluted common share, compared to $2.65 for the same period of 2018, marking a 3 percent decrease. NOI increased $7.9 million compared to last year, including $3.4 million for same-store facilities.

During the quarter, the company acquired 10 facilities across six states for $116.7 million. Four of the properties are in Florida, with two in Virginia and one each in Arizona, Colorado, Michigan and Texas. Together they comprise 700,000 net rentable square feet. It also completed two new development and various expansion projects that added 1.1 million net rentable square feet to its portfolio for $89.7 million.

The company reported a regular common quarterly dividend of $2 per common share, which was equal to the previous quarter. It also declared dividends with respect to various series of preferred shares. All the dividends are payable on Sept. 27 to shareholders of record as of Sept. 12.

Based in Glendale, Calif., Public Storage has interests in 2,456 self-storage facilities in 38 states, with approximately 166 million net rentable square feet. Operating under the Shurgard brand name, the company also has 231 facilities in seven European countries, with approximately 13 million net rentable square feet.

Sources:
CubeSmart, CubeSmart Reports Second Quarter 2019 Results
Extra Space, Extra Space Storage Inc. Reports 2019 Second Quarter Results
Life Storage, Life Storage Inc. Reports Second Quarter 2019 Results
National Storage Affiliates, National Storage Affiliates Trust Reports Second Quarter 2019 Results
Public Storage, Public Storage Reports Results for the Three and Six Months Ended June 30, 2019

A woman reported missing in April was found dead last weekend inside the unit she rented at Hillsboro Mini Storage in Hillsboro, N.H. Police were called to the property on West Main Street about 3 p.m. on Saturday after the owner of the self-storage business opened the unit and found the body of Linda J. Minery, 53.

The unit was equipped with roll-up doors on either end of the space. Both were locked at the time her body was discovered, according to reports. One entry had been locked after Minery entered the unit, according to police, though officials indicated there wasn’t any suspicious activity in connection to her death. She also didn’t die as a result of being locked inside, investigators said. No cause of death was reported.

Minery left the home she shared with her mother early on April 7. Her family told police they believed she had an undiagnosed mental-health issue. Prior to her disappearance, she had displayed “extreme paranoid behavior” and resorted to primarily communicating through written notes, police said.

“Our deepest sympathies go out to the family. This is not the way you’d like to close a missing-person case,” Hillsboro Police Lt. Derek Brown told a source.

Sources:
Concord Monitor, Missing Hillsboro Woman Found Dead in Storage Unit
Sentinel Source, Body of Missing Hillsboro Woman Found in Storage Unit

E-mail marketing is everywhere. It’s used in every industry to drive sales and build brand awareness. Eighty-five percent of U.S. Internet users have an e-mail address, according to data-marketing company Statista, making e-mail an ideal platform for communicating with your existing and future self-storage customers.

Lead generation and conversion are critical in any successful storage operation, and e-mail marketing is a great tool for this purpose. It allows you to gently remind people that you exist. Sending well-designed, mistake-free messages will create brand awareness and present your facility as professional, active and well-run.

If yours is a small operation with limited marketing resources, consider investing in e-mail marketing. E-mails are 40 times more effective than social media in helping a business acquire new customers, according to consulting firm McKinsey & Co. They’re also a great way to target customers who aren’t active on social media. Campaigns can even be accomplished for free or at a low cost through platforms such as AWeber, Constant Contact and MailChimp.

But what makes a good e-mail? How can you encourage tenants and prospects to open and read your messages? People respond to creative, well-planned campaigns. Let’s talk about how to create an e-mail list, what your messages should include, when to reach out to customers and more.

Building Your Lists

Are you collecting e-mail addresses from all existing tenants? If not, start now. You can request them when new customers sign their rental agreements. If you’re missing addresses for current customers, reach out via phone or mail to update their file. Compile the e-mails into a spreadsheet for easy organization, and update the list frequently, adding new addresses as necessary.

Create a separate e-mail list for potential customers. While it may seem more challenging to gather these contacts, it really isn’t. There are many ways to get this valuable information. You can collect e-mails over the phone or through a “contact us” link on your website. When someone stops by the office or reaches out to you via social media, ask for an e-mail address where you can send the information they seek. Again, keep the list updated. Move people from this one to “current tenants” when applicable.

Don’t send the same e-mail to everyone whose address you’ve collected. Keep your list of prospects separate from renters to ensure you aren’t bombarding anyone with irrelevant messaging. Failing to separate your lists can lead to opt-outs (people who unsubscribe), damaging the power of your marketing reach. You don’t want your messages to be taken as spam.

Note: Always respect a person’s request to be removed from your mailing list. Your recipients can unsubscribe any time and nobody is obligated to open your messages. Remove the address and don’t re-add it without the customer’s consent. Not only is it rude, in many cases, it’s illegal.

Creating Effective Content

So, you’ve got your lists. Now the fun begins—writing and designing! Open your preferred e-mail platform and use a template. You can design your own messages, but templates are great for beginners. Add your logo and edit the content to match your facility branding.

First, having a clear message is key, and don’t ever send an e-mail without a purpose. Timing is everything when it comes to e-mail marketing. Use it sparingly. Wait until you have something exciting, important or valuable to share. Are you running a new special? Hosting an event? Do you have a property feature, product or service to unveil? These are the perfect times to send a captivating message.

Second, don’t fall prey to common beginner’s mistakes. For example, don’t send a message every day, which is too frequent, or even every holiday. Not everyone celebrates the same things. By sending holiday messages, you may unintentionally offend some recipients.

Next, consider your audience. We spoke earlier about separating your current and prospective customer lists. Within those might be smaller segments. Let’s say your key market is college students. The kinds of messages in which they’d be interested will be different from those you would send to a community of retirees. You want to send offers and information to which they can relate, such as student discounts, or deals for referrals, or tips on how to choose and pick the right unit for storing dorm-room contents during summer.

Once you’ve decided on the key intent of your message, make the gist clear in the e-mail subject line. You can get a bit cheeky, but don’t get so creative that recipients don’t understand what’s in it for them. People are more likely to open e-mails that look like they provide services or information, whether it’s a change in hours, a referral discount or something else entirely.

Finally, think beyond text. Multi-media content increases page views by almost 94 percent, according to communications company PRNews Group. Whether you have photos, videos or gifs, create an e-mail that engages readers and helps them understand your brand. Customers feel good about supporting small businesses and love seeing pictures of employees and community involvement.

Using Data

Earlier, I mentioned AWeber, Constant Contact and MailChimp, which are great, low-cost, easy-to-use e-mail platforms. Their analytics capability is huge reason why I recommended them. Most e-mail marketers can track who opened your messages, how often and from where. This data can be invaluable as you develop your “voice” and learn what works best for you and your audience. Over time, these platforms will help define your audience segments and allow you to tailor e-mails to certain groups.

Don’t be deterred by what you believe to be poor open rates. Every industry and market will be different. Across the real estate industry, the average e-mail open rate sits at about 20 percent. That’s a decent goal. It may not seem like much, but getting 20 percent of an audience to open your e-mails means your content is working!

Do you feel ready to send a great e-mail announcing your longer operating hours, new security features or online rental tool? Go forth! Create a message, captivate customers and gain new business. Add your logo and brand colors to make it your own. When used effectively, e-mail marketing might just be the secret to filling your empty self-storage units.

Laura Gattis is a marketing specialist for The Storage Group, a provider of self-storage technology products and services including website design, search marketing and an industry progressive web app. She earned a master’s degree in media innovation from the University of Nevada. Her expertise lies in social media management, digital marketing and strategic communications. For more information, visit www.storageinternetmarketing.com.

Public Storage Inc., a publicly traded self-storage real estate investment trust and third-party management firm, has appointed Google executive Tariq M. Shaukat to its board of trustees. Shaukat, 47, officially joined the board on July 30, according to a press release.

“We are pleased to welcome Tariq to the board of trustees,” said Joe Russell, president and CEO. “The company and its shareholders will be well-served by his proven leadership and unique perspective as the self-storage industry landscape continues to evolve.”

Shaukat is president of partner and industry platforms for Google Cloud at Google LLC, where he oversees operational and customer-based initiatives, including analytics and machine learning. He was previously president of global customer operations, in which he led Google Cloud’s go-to-market operations for sales, customer support and other professional services, the release stated.

Prior to joining Google in 2016, Shaukat was executive vice president and chief commercial officer at Caesars Entertainment Corp. He joined Caesars in 2012 as executive vice president and chief marketing officer. He was previously a partner with consulting firm McKinsey & Co., where he held leadership positions at various technology-based companies.

Shaukat holds bachelor’s and master’s degrees from the Massachusetts Institute of Technology as well as a master’s from Stanford University.

Based in Glendale, Calif., Public Storage has interests in 2,444 self-storage facilities in 38 states, with approximately 164 million net rentable square feet. Operating under the Shurgard brand name, the company also has 231 facilities in seven European countries, with approximately 13 million net rentable square feet.

Source:
Public Storage, Public Storage Announces the Appointment of a New Director