What the Fed Hike Means for Self-Storage Loans
A new year brings new challenges for self-storage operators. It also brings changes to the financial markets, in particular the end of last year brought news that the Federal Reserve plans to gradually raise interest rates.
Marcus & Millichap Arranges the Sale of a 55,225-Square Foot Self-Storage Facility
ZEPHYRHILLS, FLA., Dec. 30, 2015 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Seminole Storage, a 55,225-net rentable square foot self-storage facility located in Zephyrhills, Florida.
Budget Self Storage in Temple, Hills, MD, Sold
Budget Self Storage, a 64,440-net-rentable-square-foot facility in Temple Hills, Md., recently sold to a growing self-storage investor with properties in Maryland and Pennsylvania, according to a press release by Marcus & Millichap, the commercial real estate firm that brokered the transaction. The seller was local real estate investor who has owned the property for nearly 20 years.
Weekly Self-Storage Development Round Up
Phoenix, AZ-based Wentworth Property Company is converting a former semi-conductor plant at Thomas Road and Pima Road in Scottsdale into a 120,000-square-foot self-storage facility. Completion is expected during the second quarter. The facility will be managed by US Storage Centers.
7 Self-Storage Companies to Watch in 2016
New development projects began to emerge across the country in 2015, so it should come as no surprise that our list of storage companies to watch in 2016 is dominated by developers. Some have been in the industry for decades, and some are just getting started. We expect these companies, and several more not mentioned here, to make headlines in the coming months as new supply ramps up.