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10.11.2014


After Extra Space, CubeSmart ranked second on Zakaria’s scorecard, followed by Public Storage, U-Haul and Uncle Bob’s.
Zakaria stressed that Extra Space performed well in four categories that were weighted heavily in his scoring system: No. For his analysis, Zakaria scored the five self-storage operators on overall supply and demand.
CubeSmart came out on top in the supply category, followed by Uncle Bob’s, Extra Space, U-Haul and Public Storage.
On the demand side, Public Storage led the pack, followed by Extra Space, CubeSmart, U-Haul and Uncle Bob’s. 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. Boxes, locks, bubblewrap and more are all conveniently available for purchase at our facilities at affordable cost. Extra Space in Leesville, Louisiana offers customers secure and affordable self storage services.
Extra Space Leesville is a very safe location with 24-hour camera surveillance and security gate access.
Beginning March 2nd, Stapleton residents and businesses will have another storage option: Extra Space Storage located in Stapleton’s Northfield Business Park. The three story self-storage facility will offer exterior units and state of the art climate-controlled interior units that range from 5’x 5’ to 10’x 35’ in size. Additionally, the facility utilizes a twenty-four hour security system giving Extra Space Storage tenants’ confidence that their belongings are safe. Furthermore, Extra Space said it had closed on the purchase of 35 of the 40 facilities mentioned in its third-quarter earnings release for a total price of $190.4 million. Extra Space’s 17-facility deal follows recent announcements of major acquisitions by two of its REIT rivals: CubeSmart LP and Public Storage Inc. For Extra Space, securing millions of dollars in acquisitions this year hasn’t been easy in what continues to be a highly competitive market for top-quality assets. Extra Space is predominantly buying properties at cap rates between 6 percent and 7 percent.
Kirk acknowledged that Extra Space that amid competitive bidding, the REIT has not been “overly successful” in landing facilities that have been actively marketed. As for development activity, Extra Space does not do ground-up construction on its own, but it does enter joint ventures that hold the opportunity for acquisitions down the road.
By most measures, the REIT’s third-quarter results either met or exceeded what had been already high expectations from Wall Street analysts.
Kirk credits the “great operating environment” for part of the REIT’s recent success—namely stable customer demand and limited new construction.


Extra Space marked a major milestone in the third quarter when it surpassed 1,000 branded properties in its portfolio. When asked why shares of Extra Space (NYSE: EXR) have risen by 40% in 2012, Kirk attributed the stock price increase to three factors. Second, the supply of new storage units for rent has remained stagnant since the end of a self storage construction boom which concluded in 2007. Third, Kirk said the internet, once thought to be the great equalizer among self storage competitors, has in reality become the great divider as the ability to quickly adapt to rapid changes in paid internet search and search engine optimization has swung to the larger players in the market. Kirk went on to explain Extra Space differentiates itself from other large players in the self storage market by having the largest percentage of properties in the top 20 metropolitan markets, as well as focusing on giving self storage shoppers a unique internet experience with Extra Space compared to their larger competitors. It is this competency in attracting and then engaging self storage customers on the internet combined with projected flat growth in new self storage unit construction which has Extra Space well positioned to continue its stellar performance into 2013 and beyond, Kirk said. Kirk also emphasized that 90% of the self storage businesses in the United States are still mom and pop operations.
Kirk confided the popularity of television shows featuring auctions of abandoned property from self storage units has driven attendance at these auctions. The big picture, Kirk said, is these auctions mean a former customer is losing their assets and their possessions which they had stored away. The analysis included facilities owned and operated by the companies, as well as those managed under third-party deals. Percentage of vacant housing units in a five-mile radius: Extra Space and Public Storage (tie), 9 percent.
Supply gauges the competition that a company’s facility faces from other facilities in a certain trade area, while demand measures the strength of demand from customers in that area.
He first moved to Austin in 1999, when downtown Austin wasn't nearly as lively as it is today. I wonder what more Uncle Bob’s could do in the short term to rank higher, since it is #2 for supply.
This white paper identifies major trends and best practices in rate management, occupancy analysis, rental contracts and profit management. This makes moving, packing and storing your valued possessions as safe, secure and convenient as possible.
Our two local storage facilities provide convenient public storage solutions at the best value. Lisa Glynn and Tom Razo will be opening their second Stapleton self-storage facility to serve both the commercial and residential needs of the community. Tenants will also have the ability store their goods long-term or temporarily with a flexible month-to-month leasing agreement. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page. 4, the self-storage REIT announced it had signed a deal to buy 17 storage facilities in Virginia for $200 million in cash. These 35 facilities are in 12 states, and contain about 23,600 units with 2.6 million square feet of rentable space.


4 announcement, Extra Space this year has purchased or is purchasing a total of 87 facilities for more than $730 million. Chris Sonne, executive managing director of the Self Storage Industry Group at commercial real estate firm Cushman & Wakefield, said the four self-storage REITs are “flush with cash” and prefer to buy existing facilities rather than build facilities from the ground up. The company has a track record of strong growth that it has maintained over several quarters, and is “firing on all cylinders” with its third-quarter results, according to an Oct.
Street rates rose, while discounts to new customers declined, resulting in same-store revenue growth of 7.8 percent for the quarter.
However, the company is leveraging favorable market conditions along with its own strong operating platform to produce double-digit growth in funds from operations (FFO), an important financial yardstick for REITs. So far this year, the REIT has added 72 branded facilities to its third-party management program for a total of 253.
Since then, new self storage construction has stalled and virtually none was built in 2012, Kirk related. As these smaller operations seek to sell, Extra Space will continue to buy them, even though prices for existing enterprises are rising due to a combination of demand and lack of new storage business construction. More bidders mean in higher prices and thus profits from these sales, but companies like Extra Space view this as an unfortunate part of their business.
1 spot, thanks largely to its big presence in the land-constrained New York City metro area. We have space for anything from boats and motorcycles to household furniture and business documents. We also sell moving and packing supplies at our property, and customers can use our kiosk – located in front of the office – to make payments or rent a new storage unit at any time.
Extra Space Storage Northfield Stapleton will be conveniently located just north of I-70 on the Central Park Blvd Exit between 50th and 51st Ave at 5062 North Central Park Blvd, Denver, CO 80238.
In general, Extra Space has been outbid by as much as 10 percent on marketed properties, Kirk said. Excluding one-time acquisition charges, the company’s year-over-year FFO growth was 21 percent in the third quarter.
Self storage rental space is a demand based product that does well in good economies as well as bad. The portfolio comprises about 14,000 units with about 1.5 million square feet of rentable space. Whatever the state of the economy may be at any given time, life events including birth, death, moving, marriage, divorce, and attending college all are among many factors which drive demand for self storage, Kirk shared.



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