South Florida needs more self-storage space, commercial real estate broker says
The late George Carlin famously kvetched about needing a place for his stuff. Self-storage developers in South Florida haven’t heeded his call, according to a new report from commercial real estate brokerage Marcus & Millichap.
“Nationwide, self-storage supply is estimated at 8.3 square feet per capita,” the company says. “The self-storage supply in the Miami-Fort Lauderdale-West Palm Beach MSA is well-below the national average at 5.2 square feet per capita. It also falls well below the state average of 9.4 square feet per capita.”
At least one developer sees opportunity, though. Elite Stor last year paid $750,000 for a former mattress warehouse at 1016 Clare Ave. in West Palm Beach. It says its 20,000-square-foot, high-tech storage facility opens this month.
Valet Self-Storage Startup DBox Launches in Vancouver, Canada
DBox Storage Inc., a startup business specializing in valet self-storage services, recently launched in Vancouver, British Columbia, Canada. The company uses an online platform that allows customers to schedule free item pickup, maintain an image catalog of belongings, and schedule delivery of items to their home.
US Storage Centers Expands Arizona Footprint
US Storage Centers announced today that it has acquired the self storage facility in Phoenix, Arizona located at 4860 North 83rd Avenue. This property is the eighth facility owned and operated by the company in Arizona. It consists of 729 units in six buildings with a total net rental area of 82,432 square feet.
“Arizona is an exciting market with lots of opportunity and this new facility will be a valuable addition to our portfolio,” said Marketing VP Jason Lopez. “We’re well established in the greater Phoenix market with an operational competitive advantage that enables us to provide our customers with the quality storage experience they expect.”
The majority of the storage units at the facility feature true climate control—a much needed feature in the community because the majority of the surrounding storage facilities are older buildings that do not offer this option.
Several popular businesses, eateries, and a bank are located next to the property. Additionally, the facility is located on a highly visible corner where two arterial roads, West Camelback Road and North 83rd Avenue location, intersect.
US Storage Centers has been a leading operator in the storage industry for nearly 30 years. It has experienced double-digit growth in its third-party management division since 2009 and is now one of the largest operators in the country.
About US Storage Centers
Founded 1985, US Storage Centers is an owner / operator of self storage facilities in 13 states. The Company is a fully integrated operator that develops, acquires and manages its own portfolio—additionally, the company provides third-party management services. As of February 2015 it has over 6.5 million rentable square feet under management and employs over 200 people. US Storage Centers is a founding partner of the 501(c)3 Kure-It, a non-profit organization that raises money for underfunded cancer research, and Charity Storage, a 501(c)3 that uses vacant storage units to raise money for local charities. To date, Kure-It has raised over $2.5 Million and Charity Storage has raised nearly $200,000.
New RV-Storage Facility Proposed for Palm Springs, CA
An RV-storage facility has been proposed for an empty 4.8-acre lot near Palm Springs Airport Self Storage in Palm Springs, Calif. Ariel Valli, president and principal architect of Valli Architectural Group, recently presented the project to the city’s Architectural Advisory Committee. The members have asked him to refine and resubmit plans
U-Haul Buys Capitol View Self Storage in Jefferson City, MO
U-Haul International has acquired the former Capitol View Self Storage in Jefferson City, Mo., and rebranded it as U-Haul Moving and Storage of Jefferson City. It’s the company’s first facility in the state capital.