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Seattlemay be known for dreary weather, but the Emerald City has plenty for the self-storage industry to like other than coffee. John Eisenbarth, vice president of operations at West Coast Self-Storage, said a strong economy has helped fuel robust fundamentals in the Seattle self-storage business. While Cushman & Wakefield’s third-quarter report on the Seattle metro area labeled the region as over-supplied, self-storage operators said the market is so large and varied that some submarkets within the area might be over-supplied while others actually are under-supplied. Cushman & Wakefield’s Self Storage Data Services surveyed 281 facilities, or 47 percent of the market, for its third-quarter report. Still, Cushman & Wakefield’s Garey said the overall market is considered fairly strong.
In fact, some industry players are beginning to build again after a hiatus that began around 2007 as the housing crisis put real estate into a tailspin. Don Arsenault is vice president of the Washington Self Storage Association and a commercial investment adviser with Arsenault Realty Advisors.
But the risk always exists that developers will overbuild and existing operators will get hurt.
Eisenbarth, whose company has 10 facilities in the Seattle area, said he’s aware of eight properties in the metro region that either have just opened or are in development—the most he’s seen in the past six years. The four publicly traded self-storage REITs probably would like to get a bigger foothold in Seattle as well, but there’s no evidence that existing facilities will be changing hands anytime soon.

However, he said, it remains to be seen whether investors will hold onto high-quality assets or decide it’s a good time exit the business.
Barriers exist to adding new supply in Seattle, making acquisitions—when they can be done—quite attractive, Garey said. Eisenbarth said West Coast Self-Storage’s properties in the Seattle area all are doing well, with performance up across the board over last year.
Going forward, Eisenbarth expects operators in the region to see continued growth in their rental and occupancy rates. 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. Why waste hours on the phone to utilities companies?YourPorter arranges all of your utilities connections fastand free of charge.
Asking rental rates dropped 4.8 percent in the third quarter compared to the year-ago period, according to the report. If self-storage owners already refinanced their properties and are making decent money, they may not have the incentive to sell, Garey said.

This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management.
It is widely considered to be one of the company's best driving models and, according to Autocar magazine, could achieve the benchmark sprint to 60mph in a lightening 4.2 seconds and top 170mph flat out - figures that wouldn't disgrace a supercar of today. And Boeing, although its headquarters flew off to Chicago several years ago, maintains a big presence in the region.
The 350bhp and 290lbft of torque on tap were provided by a 3605cc version of TVR's in-house straight-six so called 'Speed Six' engine that was mated to a five-speed manual gearbox. Braking was by sizeable discs front and back operated by AP callipers, while the suspension comprised racing-style double wishbones at all corners. This macho-looking entry level Convertible was designed by Lee Hodgetts and Darren Hobbs and designed to fill the gap left by the departing Chimaera and Griffith models. The TVR is now offered for sale complete with service history courtesy of both franchise dealers and marque specialists. A relatively rare and exciting opportunity for the many enthusiasts of this much loved British marque.

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Author: admin | 23.12.2014 | Category: How To Build A Garden Shed

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