Archive for July, 2007
arcus & Millichap’s national platform has paid off for its clients once again, connecting an East Coast client to a West Coast property in a $7.35 million sale. Marcus & Millichap’s The Mele Group, in cooperation with Bobby Loeffler in Sacramento, brokered the sale of All Size Storage in Elk Grove, Calif.Michael A. Mele and The Mele Group Investment Associate Scott Rutherford joined forces with Bobby Loeffler, Director of the National Self Storage Group at Marcus & Millichap, combining their self-storage expertise and investor connections to ensure the All Size Storage property earned top dollar in the competitive California market.
“The All Size Storage property was a prime acquisition as it is quickly approaching stabilization and offers Class A construction quality,” said Michael, who is also president of the Florida Self Storage Association. “Although there are markets in California that are overbuilt, this Elk Grove facility assures the investor a strategic advantage with little competition.”
Click here to read the rest of this release.
July 9th, 2007
When South Lamar Storage & Wine Cellar opens its doors on July 16, area residents and businesses will be introduced to a whole new approach to self-storage, according to a press release about the opening.
In addition to traditional storage services for general household and office items, the company will offer climate-controlled self-storage solutions for fine wine, tobacco and archival collections, and concierge services to meet the needs of downtown Austin’s high-end clientele.
Will Steakley, vice president of residential sales at urbanspace Realtors LLP in Austin, explains that as Austinites move into small urban spaces, their storage needs are evolving. “As our youth and empty nesters trade in a garage full of lawnmowers for the simplicity of a maintenance-free box in the sky, the demand for accessible long- and short-term storage within our urban core will become more and more precious,” he said.
I applaud this out of the box thinking. It may not be a whole new approach to self-storage in some regards. Wine storage is nothing new, but this is definitely a fresh approach that will have no trouble finding media attention in Austin, which is a great media market. Congratulations to South Lamar Storage for its innovation — and its commitment to communicating its differences in the local market.
Click here to read the rest of the release about South Lamar Storage.
July 6th, 2007
According to the AT&T 2006 Business Continuity Study, nearly 30 percent of companies across the nation have suffered from a disaster: 19% from extreme weather, 16% from fire, 19% from floods, 10% from earthquakes, 7% from terrorist attacks, and 8% from tornados. However, U.S. government studies report that only a quarter of companies are prepared for emergencies.
According to the FBI, there are several benefits to establishing an Emergency Action Plan, or EAP, such as restoring a sense of security to workers and reducing missed workdays. An Emergency Action Plan is a comprehensive system that spells out how a company or facility prevents, prepares for, and responds to an emergency. It offers guidelines and steps to follow in the wake of an emergency. For many companies, portable storage should be part of that plan.
“Portable storage is an integral part of emergency preparation for home dwellers and companies alike,” said John Finnessy, CMP, Executive Director the National Portable Storage Association, or NPSA, a nonprofit membership association dedicated to the advancement of the portable storage industry. “Custom-order shipping containers can be fitted with windows, electricity and plumbing. What’s more, these containers can withstand the winds that accompany a Category 5 hurricane. That means items stored inside are safe and sound.”
Click here to read the rest of this release.
July 5th, 2007
Zacks Equity Research highlighted Public Storage (NYSE: PSA) as the Bull of the Day. Shares of PSA have traded down about 17% since mid-April.
Zacks attributes this to a correction in the sector as investors are taking profits after multi-year gains. Zacks thinks the sell-off has been overblown and PSA is still operating in an excellent environment for self-storage.
The company continues to have strong earnings momentum, and as the economy strengthens, the company should see even greater returns. With the acquisition of Shurgard, PSA removed a major competitor, and is by far the largest self storage operator in the U.S. Zacks is also encouraged by a slowdown in new supply coming on line in major markets.
This is good news for all of self-storage because PSA is a good indicator of industry health. I’m glad Wall Street is watching. It gives us a real look at the industry, not just what the internal pundits say. If I were in charge of marketing for Public Storage, I would amp up my marketing right about now. In fact, if I were marketing for any quality facility, now is the time to beef up marketing/branding campaigns to leverage this rebound.
July 3rd, 2007
As the dust settles on the National Portable Storage Association’s (NPSA) 4th biannual Resale Expo in Monterey, Calif., industry leaders are beginning to implement many of the best practices and cutting-edge strategies that were discussed.
Now, members who were not present, as well as portable storage industry players who want to tap into the benefits of the association’s educational and business resources, can obtain video of the speaker presentations. This is an unprecedented opportunity to discover knowledge that is not available anywhere else in the convenience of your home or office.
“The Resale Expo is a premier portable storage industry event that gathers the industry’s thought leaders for a meeting of the minds,” said John Finnessy, CMP, Executive Director of the NPSA, a nonprofit membership association dedicated to the advancement of the portable storage industry.
Click here to read the rest of this release.
July 2nd, 2007
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