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05.06.2015 admin
Abandoned and Past Due storage units We will start with the store in Ridgeland then go to the stores on I-55, then West St., and finish with Mcdowell Rd. The seven self-storage facilities, which span more than 575,000 square feet, were acquired in five separate deals.
Amherst, NY-based Sovran financed the purchases with existing lines of credit and proceeds from facility sales.
Unlike the other three publicly traded self-storage REITs, Sovran didn’t make any big portfolio acquisitions in 2013. The sale of the two other facilities closed in January; both facilities were controlled by Chicago investor Kent Haeger and operated under The Store Room brand.
That sale was arranged by Haeger’s attorney Tom Angelo, who told the South Florida Business Journal that six bidders competed for the two facilities. Angelo said this deal ranks as one of the highest per-square-foot sales for self-storage in his region.
Welcome.The Storage Facilitator is the modern self-storage professional's destination for useful education, intriguing news, diverse expert perspectives, technology updates, and beyond. Get our free white paperThe Four Pillars of Profitable Self-Storage Management is an in-depth resource that empowers facility owners and managers to get more out of your business and stay ahead. The information contained herein has been obtained from third parties and we cannot guarantee the accuracy or completeness of the information. Despite a muted year on the acquisition front, Sovran Self Storage Inc., operator of Uncle Bob’s Self Storage, posted double-digit growth in 2013. The Amherst, NY-based REIT boosted revenue over the previous year by 17 percent to $273.5 million.
Total profit in 2013 climbed to more than $74 million, a 34 percent jump over the previous year. Average same-store occupancy reached 89.5 percent in 2013, surpassing the previous average by more than 2 percent. The reduction in activity came, in part, because Uncle Bob’s was outmuscled by competitors in bidding for some of the largest portfolio deals of 2103. The company said it plans to spend more money on acquisitions this year, with six acquisitions totaling $86.7 million on the books so far in the first quarter. The company also found itself on the other side of real estate deals in 2013, but not as often as in 2012. Rogers said the company’s sell-off strategy involves exiting markets that are overly competitive or replacing older facilities in markets where it has bought newer facilities. In considering future acquisitions, Rogers said the company isn’t as concerned about going cap rates as it is with a property’s future potential. Andy Gregoire, chief financial officer at Sovran, said the company is ready if more opportunities arise. Paul Powell, executive vice president of real estate investment at Sovran, said the company also is tracking 57 facilities under development that could spark competition in markets where Uncle Bob’s operates. The company is watching out for third-party management opportunities with some of these new developments, Powell said. Asked about Uncle Bob’s branding, Powell said: “We like Uncle Bob, and we think he is the right guy to lead us to the next level.
In the third quarter, Sovran saw one of its most aggressive quarters in terms of rate increases on existing customers. Funds from operations (FFO)—a key financial indicator for REITs—were 98 cents a share in the third quarter, compared with 85 cents a share for the same period last year.
Thousands of shoes collected by StorageMart recently lined the stairs at the Missouri Capitol. Columbia, MO-based StorageMart recently put its soul—and it soles—into a project to raise awareness of foster care in Missouri. StorageMart collaborated with the Central Missouri Foster Care & Adoption Association for the first-ever “Shoe In for Foster Care” campaign. StorageMart collected shoes at five facilities in Columbia and one facility in Jefferson City.


After the event, the shoes were donated to Hope for Caribbean Kids, a nonprofit that plans to sell them to finance construction of schools in Haiti, and to benefit clean-water programs in Haiti and Kenya.
Tampa Bay Buccaneers running back Doug Martin greeted fans and signed autographs May 17 at an Uncle Bob’s Self Storage facility in Tampa, FL.
An injury sidelined Martin in November, but he recently was cleared to return to the gridiron.
Storage owner, operator and manager AC Self Storage Solutions has teamed up with Charity Storage to support cancer research and wounded veterans. California-based AC Self Storage Solutions has 11 facilities in five states: California, Colorado, Nevada, Tennessee and Texas. Do you have news to share about a special event or a charitable activity involving your storage facility? Auction hunters aren't allowed to enter this Uncle Bob’s Self Storage unit before bidding on it. AUSTIN — Like day laborers waiting for work, 30-odd people mill around outside Uncle Bob’s Self Storage early on a Tuesday morning. Almost half this morning’s crowd appeared to be spectators along for the ride or working up to making a bid. Storage Wars premiered on A&E Network in 2010 and went on to become the highest-rated show in the cable network’s history. Before the television shows, according to those in the business, the main inspiration for would-be auction hunters was Glendon Cameron. In a recent YouTube webisode, Cameron harangues buyers for taking Storage Wars too seriously. Nefty Gonzalez, a photojournalist from FOX 29 in San Antonio, films Rory Vuckner, owner of two Dominoes Pizza franchises in Austin, as he rummages through a storage unit whose contents he bought for $350. Garcia got his story as the purchasers of two packed units agreed to go on camera as they rummaged through their units.
William Head, CAI, AARE, CES, BAS, CAGA has earned the Certified Auctioneers Institute (CAI) designation, the most highly respected educational designation in the auction industry.
Contact us today and let us provide you with the professional consultation and results you deserve (601) 879-3344.
This is a 2696 square foot, 4 bedroom 3 bath, single family home, sitting on 21 beautiful acres. Located in the Sandalwood subdivision this 4 bed 2 bath 2200 square foot home sits on 1.3 acres. This truck terminal is located in Leland MS.12 foot door crossdock with 2348 sf dock are and 1033 sf office area. Instead, the company cherry-picked acquisitions in markets where it already had a presence. The multistory storage facilities feature wine storage and cater to an upscale clientele, he said. During the final three months of last year, the REIT unloaded one facility each in Christiansburg, VA, and Dayton, OH, and two in Tallahassee, FL, for a total of about $11.8 million. This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management. CEO David Rogers attributed the growth to strong occupancy levels, higher rents and a bump in tenant insurance commissions. Paul Powell, executive vice president of real estate investments, said Uncle Bob’s might sell five to 10 facilities this year but isn’t marketing any properties for sale right now. 30, the self-storage REIT bought three facilities for $28 million: two on Long Island, NY, and one in Colorado Springs, CO. The company said it has offers on the table—totaling more than $400 million—for more than 30 self-storage facilities. Still, new development remains muted compared with self-storage development that was under way in the early part of this decade, he said. In the third quarter, the company signed leasing deals to rebrand and operate four self-storage facilities formerly known as Westy Self Storage.


A self-storage facility donates a unit, and customers and community members contribute items to fill it; the items then are auctioned off. He first moved to Austin in 1999, when downtown Austin wasn't nearly as lively as it is today. Waiting in blue jeans, ball caps and striped shirts, they aren’t hoping for a paycheck – they’re banking on a gamble.
The episodes revolve around the fortunes of five professional buyers who all rely on the contents of storage units for their resale businesses. Robert Cavanaugh, an auto parts specialist at Ace Discount Glass in Austin, has yet to win a unit in his several months on the scene. He started buying storage units in 2002 and worked his way up from garage sales, flea markets and storefronts to eventually running a 9,000-square-foot warehouse space.
He’s seen too many novices drop large sums of cash on units just because they think “it’s got to be in there.” “It” being the hidden moneymaker, such as vintage ice skates or valuable Boy Scout badges, that often turns up on the TV show but is generally absent in real life.
The next auction on the day’s circuit was on the southern end of South Congress Avenue, and a TV news crew from Fox 29 in San Antonio was filming a feature on storage unit auctions. Part of the fun of storage unit auctions is that bidders can’t go inside or touch anything before bidding.
A sturdy wooden box contains used kitchenware, a jewelry box containing plastic bracelets, and a dresser with dirty clothes. CAI graduates have the knowledge and skills necessary to provide high-quality services to all types of clients.
This estate contains signs, safes, clocks, RV, MG replica, tins, brass, scales and so so much more. It has a fenced in yard that has a gas pump with underground tank and two 12 foot rollup doors.Corner lot on Greenway Dr. During the first nine months of 2013, Sovran bought six facilities in five states at a total cost of $50.2 million. Further bolstering growth were tenant insurance commission at the company’s same-store locations, which grew 26 percent over the previous year to $7.1 million. That’s less than half of the $189 million the company spent during the previous year to buy 28 facilities. It also has two facilities under contract: one in Toms River, NJ, and another in Palm Beach, FL. Make sure we have the ability to take down those big acquisitions if they come along,” Gregoire said.
The facilities, which Sovran has an option to buy for $120 million, are in Connecticut and New York.
The shoes then were lined up May 13 on the steps of the Missouri Capitol in Jefferson City to create a visual representation of the “forgotten souls” in the state’s foster care system. Led by an auctioneer, hunters crisscross the metropolitan area trying to lay claim to an abandoned storage unit. The buyers briefly inspect storage units before engaging in a bidding war over what’s inside.
After assessing the value of a door, a leaf blower, some tools and a pair of speakers, he said he’ll just about make his money back. Five of the recent deals closed during the fourth quarter, bringing Sovran’s total acquisition activity in 2013 to about $94.9 million.
Buffalo, NY-based Sovran operates close to 500 facilities under the Uncle Bob’s Self Storage brand name. As recently as two years ago, five people might show up at a morning’s kickoff like this one. Contents can include workout equipment, trash bags of clothing, bedrooms sets, tool collections, jewelry, kitchenware, various knickknacks or nearly anything else that can be packed away in a confined space and left behind.



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