Diamond Opens Maryland Life Storage

 

Diamond Point Development, LLC, in partnership with The Ardent Companies, opened a Life Storage in Frederick, Maryland.

 

Extra Space Eying Life Storage

 

After Life Storage rebuffed Public Storage’s $11 billion all-stock takeover of the company, Extra Space Storage is said to be considering making an offer. Bloomberg, Reuters and other media outlets reported this week that Extra Space may make an offer, causing Life Storage’s stock price to rise Wednesday.

 

   

 

Copper Launches C3 Call Center

 

Copper Storage Management launched C3, its call center solution for self storage owners and operators. C3 offers a full-service call center to handle rentals, reservations, and more. Integrating with management software, C3 provides access to recordings, collections, and conversions seven days a week, 12 hours a day in all four time zones.

 
Absolute Pushes West

 

Absolute Storage Management expanded its management services into Arizona and Colorado during the first quarter of 2023, the company’s first presence in the western United States. Absolute is one of the largest private, third-party self storage management companies in the U.S.

 

Talonvest Secures Loan

 

Talonvest Capital, Inc. closed a $114 million acquisition bridge loan secured by a 14-property portfolio of assets in Utah and California for William Warren Group. Talonvest team members responsible for the assignment were Kim Bishop, Eric Snyder and Ivan Viramontes.  

 

MV Plans Florida CubeSmart

 

MV Investment is developing a new storage facility in Winter Haven, Florida. The property will be managed by CubeSmart.

 

Versal Sells California Asset

 

Versal brokered the sale of Valley Center Self Storage, a fully entitled development site in Santa Clarita, California. Bill Bellomy, Michael Johnson, Logan Foster, and Hugh Horne represented the seller, HPI Self Storage, LLC, an Austin, Texas based investor. Versal also procured a private buyer.

 

Marcus & Millichap Brokers Missouri Deal

 

Marcus & Millichap brokered the sale of Eldon Self Storage in Eldon, Missouri, for $1.5 million. Sean Delaney and Robert Cook marketed the property on behalf of the seller, a Missouri-based limited liability company, and secured the buyer, a Missouri-based limited liability company.

 

CushWake Index Falls

 

Cushman & Wakefield’s self storage performance index decreased 2.1% compared to Q3 2022 and increased 7.4% compared to Q4 2021. The index now stands at 176.3. C&W reports asking rental rates decreased 3% from Q3 2022 but remained up from 2021.

 

Makris Joins Marcus & Millichap

 

Marcus & Millichap hired Andreas Makris as senior associate for The Bledsoe Self Storage Group working with buyers and sellers in the Mid-Atlantic and Northeast markets.

 

Michigan Plans New Facility

 

Michigan Self Storage LLC intends to build a storage facility in Manistee Township, Michigan. The town planning commission has approved a site plan and special use permit, according to Manistee News Advocate.

 

SSGT Buys in Fort Myers

 

Strategic Storage Growth Trust III, Inc. acquired a facility in North Fort Myers, Florida. The property will operate at SmartStop Self Storage.

 

SAFStor Bets on Philadelphia

 

SAFStor, Inc. opened a facility in Philadelphia, Pennsylvania. Life Storage will operate the facility.

 

Miranda Joins LaTerra Development

 

LaTerra Development named Bryan Miranda as managing director to lead expansion of the company. Miranda was previously western regional vice president of Public Storage. LaTerra has a joint venture with a fund managed by Macquarie Asset Management to focus on storage development in Southern California.

 

CubeSmart Recognized for Engagement

 

CubeSmart was recognized as one of Achievers 50 Most Engaged Workplaces of 2023. This award recognizes top employers who demonstrate leadership in employee experience, recognition, and company culture.