A man suffered non-life-threatening injuries on Sunday after being shot in the neck and back while visiting a Public Storage facility in Geneva, Ill. The 30-year-old victim was taken to Northwestern Medicine Delnor Hospital, where he was still being treated on Monday, according to a source.

The shooting at 2324 Gary Lane happened around 9 p.m. Investigators believe the St. Charles, Ill., resident was the intended target. The man’s 26-year-old girlfriend was also present but not injured during the incident. No arrests have been made, and police haven’t released information about a suspect, the source stated.

Based in Glendale, Calif., Public Storage is a self-storage real estate investment trust with 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:
Chicago Tribune, St. Charles Man Shot at Self-Storage Facility in Geneva

U.K. self-storage operator Safestore Holdings PLC has released its financial statement for the third quarter of its 2019 fiscal year, which ended July 31. The company experienced growth in revenue and occupancy for most of its operating portfolio in France and the United Kingdom, as well as moderate increases in average rental rates within the group.

Total revenue for the period was up 4.8 percent to £38.2 million, with “like-for-like” growth for the group up 4.2 percent, using constant exchange rate, in both operating regions. Same-store revenue in the U.K. grew 4 percent, while the company’s Paris business increased 6.1 percent compared to the same period in 2018.

Occupancy across the company’s portfolio was 77.5 percent at the end of the period, an increase of 1.7 percent. Same-store occupancy was 78.6 percent, an increase of 2.1 percent. U.K. occupancy was 76.7 percent, a 2 percent bump from a year ago. Rental rates across the U.K. portfolio increased 1.3 percent year over year, while same-store facilities increased rates 1.5 percent. In France, occupancy was 80.7 percent, up .2 percent from a year ago, while rental rates fell 1 percent.

"I am pleased to report another good performance in the third quarter despite annualizing a strong third quarter in 2018,” said Frederic Vecchioli, CEO. “Our top priority remains the significant organic growth opportunity represented by the 1.4 million square feet of unlet space in our existing fully invested estate.”

Subsequent to quarter-end, Safestore launched a joint venture (JV) in August with global private-equity firm The Carlyle Group to acquire the M3 Self Storage portfolio in The Netherlands. The company will invest €5.2 million for a 20 percent state in the Dutch operation. “The group’s investment in the JV is expected to be immediately accretive to group earnings per share from completion and will support the group's future dividend capacity,” officials said.

Safestore operates 146 self-storage facilities, including 119 facilities it owns in the U.K. and 27 in France. Its storage properties comprise 6.37 million square feet of storage space and serve approximately 64,000 customers.

Source:
Safestore, Third Quarter Trading Update for the Period 1 May 2019 to 31 July 2019

Commercial real estate firm Marcus & Millichap has released its semi-annual national self-storage report for the second half of 2019. The four-page PDF offers analytical insight on a national and regional level. Produced by the firm’s National Self-Storage Group and released through its research-services division, it’s available for free download from the company website.

The publication examines the impact of construction, employment, rate and vacancy trends on a national scale. It also includes regional breakdowns for the Midwest, Mountain, Northeast, South, Texas/Oklahoma and West.

Though construction activity has slowed, consumer demand remains high, which continues to spur investment interest. “While supply pressures have weighed on property fundamentals in many markets, positive demand trends and favorable yields keep buyers active,” the report states. “Although self-storage [capitalization] rates have compressed in recent years, softening interest rates have widened margins. Initial returns can also exceed those of other property types, further encouraging investment.”

Marcus & Millichap produces more than 1,000 research products each year, according to company officials. Its research-services department offers a range of publications, from national economic perspectives to market-specific analyses. Its website enables users to search for reports by property type, location or keyword.

Founded in 1971, the company is a commercial property-investment firm with nearly 2,000 investment professionals in offices throughout Canada and the United States. It closed more than 9,400 transactions in 2018 with a value of approximately $46.4 billion.

A new three-day event will provide free education to self-storage professionals in an online format. The Self Storage Summit, Nov. 19-21, will feature dozens of industry experts and sessions on a wide range of topics.

The editors of Inside Self-Storage, the summit’s platinum sponsor, sat down with event creator and producer Jim Ross, owner of Self Storage Domination Management and host of “The Self Storage Show” podcast, to discuss the virtual platform and what attendees can expect.

Tell us a bit about your industry background.

I started in the industry as a manager when I was 20 years old and ran two locations. Then I moved on to a regional role and managed locations throughout the Western United States. For the past few years, I've created a lot of content via videos and podcasts to bring value to those in our industry by interviewing others, and just providing resources and strategies along the way.

What inspired you to launch the Self Storage Summit?

I have a passion for bringing as much value as I can to others online. With the podcasts and videos, my goal has always been to be a source of education. Putting together this online conference was a natural next step in the evolution of bringing something to our industry. It's a format that can reach many people who otherwise haven't been able to experience a conference in person. It's the next best thing to being there.

How does the platform work?

For the three days this summit is live, attendees can participate for free. Everyone who’s registered will receive an e-mail each morning giving them the links to all of that day's sessions. It’s approximately 10 per day! But those sessions are only available for 24 hours, then they become locked. The option is to purchase the All-Access Pass (a great package title I “borrowed” from the ISS World Expo), which offers unlimited access, plus several bonuses.

What’s included in the All-Access Pass?

I really want to overdeliver on this package, which is worth about $2,000. For $197, attendees will get some amazing resources to help their self-storage business. In addition to unlimited access to all video session (30-plus hours), they’ll receive:

• The 2019 Self Storage Summit Guide: The printable PDF workbook is designed to help attendees capture key insights from all sessions.
• Success Blueprints From Managers to Managers: These interviews from some of the top self-storage managers in the country provide words of advice and strategies.
• Downloadable MP3s: I’m taking each of the video sessions and turning them into audio versions for attendee convenience.
• Private Facebook group: During the live event, we'll be having fun in the group and randomly giving away $25 Amazon Gift Cards.
• Manager Mastery Monday: In this exclusive bonus session, I invite attendees to join me and kick off each week on Zoom video conferencing with fellow managers. They’ll get business tips, motivation and community! This is available immediately.

How many presenters will there be? Please give us a sneak peek into the lineup.

I have 30 speakers who’ve agreed to participate. I hand-picked those who are at the top of their self-storage game. They're investors, owners and operators and, most important, they're teaching from experience, not theory. All I can say is, you're in for a treat!

The lineup includes Chris Baird, Anne Ballard, Kris Bennett, Dean Booty, Thomas Brooks, Terry Campbell, Bob Cooper, Dan Dotson, Stevie English, Matt Eoff, Jim Ferguson, Marc Goodin, Mark Helm, Kerry Henriksen, Daniel Higuera, Guy Javarone, Tron Jordheim, Matt Lang, Jamie Lindau, Jon Loftin, Stacie Maxwell, Scott Meyers, Brad Minsley, Jim Mooney Jr., Tommy Nguyen, Tevis Paxton, Magen Smith, Brandon Snyder, Yonah Weiss, Scott Zucker and others.

How do people register?

Registration is at www.insideselfstorage.com/summit. All that’s required is an e-mail address! Once registered, you’re all set to enjoy all the presentations as they go live. You’ll also be given the option to purchase the All-Access Pass.

What do you hope attendees will take away from the event?

My goal is for every attendee to come away having learned something new and, more important, have action items they can implement for immediate positive impact on their business. At the conclusion of the event, I want every single attendee to say to themselves, “That was amazing.” I want this to be fun and educational. Most important, I want them to have a better self-storage business because of the value that was delivered to them.

Call centers have become increasingly popular in self-storage. Not only are they able to handle heavy call volume, they’re often the most cost-effective, efficient way to supplement or replace facility employees. The challenge for many owners lies in believing call-center agents will handle calls as well as (or better than) onsite staff. While a call center likely won’t be better than your managers, it can be more available; and availability is critical in securing rentals.

Though answering a phone is a simple concept, it’s amazing how complex the systems are that allow a call center to be an efficient extension of your business. When considering the use of a call center, it’s important to know what features to seek. Here are three key elements to keep in mind: integration, automation and reporting.

Integration

When shopping around, one of the most important aspects to consider is whether the call center can integrate with your management software. This is important because it allows agents to see your unit pricing and availability in real time. If they can’t view this information, they’ll only be taking messages, which isn’t much better than voicemail. It’s good if they can process payments and better still if they can perform a full rental.

Phone calls are leads and should be treated like gold. The most effective time to solidify a sale is right when the customer is on the phone ready to buy. If the call center is required to forward a lead or reservation to the facility manager for follow-up, there’s a good chance it’ll be too late by the time the prospect is reached. A trained agent who can process a rental over the phone is an asset to your business.

Automation

Though self-storage tenants are increasingly comfortable with paying bills online or via autopay, some still prefer to call the facility to pay their bill. One call-center feature that can help minimize costs and increase convenience is an interactive voice response (IVR) payment system, which allows tenants to pay by phone.

The IVR system will need to integrate with your management software so it knows the tenant’s balance and can authenticate his account. The tenant can then pay using his phone keypad at any time of day, without having to speak to a person. Once the payment has processed, it’ll be reflected in the tenant’s account and any reports you run. This level of automation increases customer convenience and comfort without sacrificing functionality.

Reporting

The reporting capabilities of a self-storage call center are significant. If you’re going to use a call center, find out which specific metrics it tracks. Here are some it might measure:

• Average caller wait time
• Abandoned call percentage
• Service level
• Number of rentals
• Number of payments
• Current tenant callers vs. new customers
• Spam calls

The No. 1 goal is for each call to be answered in a timely manner, so understanding your average caller wait time is key. It’s also important to know the types of calls your facility receives. There’s a perception that most calls to established storage facilities are new customers trying to rent, but data indicates that 70 percent to 80 percent are from existing tenants. Getting new business may be your top priority, but a close second should be taking care of current customers and keeping them happy. A good call center will provide key phone metrics specific to your facility, so you know when and where to focus marketing efforts and other resources.

Learning to Trust

Trusting a call center to help your business may be a little nerve-wracking at first. That’s completely understandable. Talk to industry peers to see how they like the service and which features have helped them the most.

You’ll likely discover that each call center offers something unique that sets it apart. Look for one that suits your business and the way you like to run things. Some centers will be flexible about what they can do for you, while others won’t offer as many options. Either way, a reputable partner should provide the technology and features to help you cut costs, increase efficiency and enhance the overall customer experience.

Christian Thurgood is director of the call-management department for Easy Storage Solutions, a provider of Web-based management software and other technology for small to mid-sized self-storage facilities. His team has helped thousands of business owners automate their facilities and increase profitability and efficiency. For more information, call 888.958.5967; visit www.storageunitsoftware.com/call-management-services.

Inside Self-Storage has signed on as the platinum sponsor for The Self Storage Summit, a new online conference providing free education to industry professionals. Taking place Nov. 19-21, the event will include dozens of presentations from experts on a wide range of topics. It’s being hosted and produced by Jim Ross, owner of Self Storage Domination Management and host of “The Self Storage Show” podcast. Registration is available at www.insideselfstorage.com/summit and requires only an e-mail address.

To date, 30 speakers have agreed to participate. They include industry consultants, owners, managers and suppliers. A full roster and agenda are available on the event website.

Each morning of the live event, registered attendees will receive an e-mail containing links to that day's sessions, which will be available for free for 24 hours. For unlimited access and bonus material, attendees have the option to purchase an All-Access Pass for $197. Perks of the upgrade include a printable PDF workbook, downloadable MP3s, access to a private Facebook group and weekly video conferencing.

“My goal is for every attendee to come away having learned something new and, more important, have action items they can implement for immediate positive impact on their business,” Ross said. “At the conclusion of the event, I want every single attendee to say to themselves, ‘That was amazing.’ I want this to be fun and educational. Most important, I want them to have a better self-storage business because of the value that was delivered to them.”

Ross began his career in the self-storage industry more than 20 years ago as a facility manager. He later advanced to regional manager, overseeing properties in several states. He operated his own self-storage auction company for a time before launching 3 Mile Domination with co-founder Matthew Van Horn. The business partners co-authored the book “Self-Storage Domination.”

Launched in 2018, “The Self Storage Show” offers more than 50 episodes, including interviews with facility managers, consultants, real estate brokers, owners and others. A free streaming app is available in the Apple App Store and Android Market.

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.

 

StorageMart, which operates more than 200 self-storage properties across Canada, the United Kingdom and the United States, launched several new athletic and charity partnerships for the 2019 football season. The company will sponsor athletic programs for Iowa State University, University of Kansas, University of Missouri and the University of Nebraska. It also has a new national partnership with Big Brothers Big Sisters of America.

As part of the deal, StorageMart is sponsoring a “Tackle Tracker” at each school, donating $10 to Big Brothers Big Sisters after every tackle made by one of the teams involved. Two games into the season, the total sits at $4,460. Fans can follow the donation on the StorageMart website or using the #DefendTheFuture hashtag on social media.

The partnership with the four universities was secured by Learfield IMG College as multimedia rightsholder for the respective athletic departments.     

“We have had a wonderful relationship with Big Brothers Big Sisters Canada since 2018, and we're excited to make the partnership an international one as we embark on this new journey with Big Brothers Big Sisters of America. It's a great cause we can serve to make an impact on a local basis in the communities we call home,” said StorageMart President Cris Burnam.

Founded in 1999 and based in Columbia, Mo., StorageMart is privately owned and operated by the Burnam Family, which has been in the storage industry for three generations. Its portfolio consists of more than 16 million square feet of storage. It serves more than 75,000 self-storage customers, and operates in Chinese, English, Punjabi, Quebecois French and Spanish.

Source:
PR Newswire, StorageMart Launches Five New Athletic and Charity Partnerships

 

Update 9/13/19 – U-Haul will hold a community open house on Sept. 14 at the Waukesha self-storage facility to celebrate completed renovations, including 576 updated units, new security features and an enclosed loading/unloading area. The company had been running services out of a temporary showroom, according to a press release.

The open house, 11 a.m. to 4 p.m., will include a behind-the-scenes facility tour and giveaways. A free lunch will be served on a first-come basis.

"Our facility is located 1.3 miles from Carroll University and is right on the edge of a growing neighborhood with new subdivisions and apartment complexes," said Christine Laclaw, general manager. "Waukesha is a thriving community with diverse demographics. We're excited to expand our reach here to meet the self-storage demands of our customers."

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5/1/17 – Phoenix-based U-Haul International Inc., which operates more than 1,300 self-storage locations across North America, has acquired two self-storage facilities in the Greater Milwaukee area for $17 million: The Vault of Menomonee Falls and The Vault of Waukesha. The properties are within 15 miles of one another and 20 miles from Milwaukee.

The Menomonee Falls facility at N58 W15500 Shawn Circle is near U.S. Route 45 and Interstate 41, and adjacent to the Bruceton Manor neighborhood and several retail stores. Built in 2016, it comprises 39,573 rentable square feet of storage space in 451 units. Phase two of the project, which is under construction and expected to be complete within the next 12 months, will expand the site to 80,230 net rentable square feet and 768 units.

The Waukesha site at 1450 S. West Ave. was built in 2014 and expanded to twice its original size a year later. It comprises 64,648 rentable square feet of space in 582 units. The property is less than a mile from Wisconsin Highway 59, less than five miles from Interstate 94, and within two miles of Carroll University. It faces the residential community Sunset Heights and a McDonald’s.

"We are very excited to be a part of this acquisition," said Mike Schneider, president of the U-Haul Co. of South Eastern Wisconsin. "There is a big demand for U-Haul products and services in Menomonee Falls and Waukesha. We also have unique services including wine storage, safe deposit boxes and weapons storage."

The sale price for these two assets is the highest on record for a self-storage portfolio in the Milwaukee-Waukesha-West Allis Metropolitan Statistical Area, according to a press release from Marcus & Millichap, the real estate firm that brokered the deal.

“After a thorough national marketing campaign, we had multiple offers from both the public and private sectors. The level of interest in these facilities, although still in lease-up, was commensurate with the quality of these best-in-class assets,” said Sean Delaney, first vice president of investments in the Marcus & Millichap Chicago-Oak Brook, Ill., office. “Despite the fact that we are still in an uncertain and changing market, this transaction clearly demonstrates the continued demand by investors for quality assets.”

The buyer and the seller, a private investor, were represented in the transaction by Delaney and Michael Mele, senior managing director of investments in the Marcus & Millichap Tampa, Fla., office as well as members of The Mele Group.

The acquisitions were driven by U-Haul’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, according to a company press release. U-Haul’s adaptive reuse of existing structures eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings, U-Haul officials said.

Established in 1945, U-Haul has more than 44 million square feet of storage space at its owned facilities throughout North America.

Founded in 1971, Marcus & Millichap is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.

Officials in St. Louis Park, Minn., are working on changes to the city’s comprehensive plan and zoning ordinance that would define self-storage as a conditional, permitted use within industrial parks and general industrial-zoning districts but prevent it from being allowed in business parks. The city prefers a plan in which business-park districts are reserved for a mix of uses within existing structures or to promote new development. The industrial areas in which self-storage would be allowed tend to be along freeways and railroad corridors, according to the source.

“We identified in the land-use study that self-storage was allowed in the business-park district because it was grouped in with warehousing and storage, and so our desire here is to eliminate that use from the business-park district and limit that only to industrial areas,” planning and zoning supervisor Sean Walther told the source.

Central to the discussion is a 13-acre site at 3745 Louisiana Ave. that houses a former Sam’s Club store. The property is near a planned Southwest Light Rail Transit station along Louisiana Avenue. The zoning changes were prompted by the city’s desire to promote “transit-oriented” development in the area, allowing for at least 500 housing units and 98 jobs, the source reported. The site has been under a yearlong development moratorium, which was extended last month for another 120 days.

On Sept. 3, the city council voted 6-0 to change zoning at the site from commercial to transit-oriented development. The plan is to change the northern half of the property from general commercial to a business park and designate the southern half for high-density residences. Self-storage would be excluded, according to Walther.

The city council is scheduled to take a final vote on Sept. 16, after which it will submit its comprehensive-plan changes to the Metropolitan Council, a policy-making body serving the Twin Cities region that can either accept or reject such amendments.

Source:
Sun Sailor, St. Louis Park Council Votes to Rezone Former Sam’s Club Site