Access Opens in New Jersey

 

Access Self Storage opened a new facility in Egg Harbor, New Jersey.

 

 

 

 

 

 

Universal Rebrands to Stellar Storage Containers

 

Universal Storage Containers has rebranded as Stellar Storage Containers. The brand of portable storage containers has a new look and logo. It will operate as a division of Universal.

 

SmartStop Makes IPO Debut

 

SmartStop Self Storage REIT raised $810 million in its initial public offering April 1. The company sold 27 million shares for $30 each and at that price has a market value of $1.54 billion.

 

Five Star to Manage in Wisconsin

 

Five Star Storage will manage a facility in New Richmond, Wisconsin.

 

SnapBox to Manage New Jersey Property

 

ARCO/Murray and Renard Management completed a new storage facility in North Bergen, New Jersey. SnapBox Storage will operate the facility.

 

Miami Development Site Sells

 

Coastal Storage Group brokered the sale of a storage development site in Miami, Florida.

 

Meridian Brokers Tennessee Facility

 

Meridian Storage Group brokered the sale of 840 Storage & Parking in Murfreesboro, Tennessee.

 

MV Building Florida Storage

 

MV Investment began construction on a storage facility in Lecanto, Florida, with completion expected in early 2026.

 

Aune Joins Elevate Structures

 

Elevate Structures hired Ben Aune as vice president of construction and promoted Darby Owenby to vice president of operations.

 

Urow Brokers Ohio Sale

 

Urow Real Estate brokered the sale of Affordable Self Storage in Wooster, Ohio.

 

TractIQ: 2024 Tough for REITs

 

Self storage had a challenging 2024, according to a report from TractIQ. Among the findings: REIT advertised rates dropped 18.4%, and REIT advertised rates were 14.1% lower than achieved rates.

 

Middle School will Convert to Storage

 

STORExpress plans to convert a former middle school in Butler, Pennsylvania, to a combination of self storage units and salon suites, according to the Butler Eagle. The school has stood vacant for three years.

 

Developer Opens California Storage

 

American Recess opened a new storage facility in Rancho Cordova, California. Extra Space Storage will manage the property.

 

Yardi: 822 Storage Properties Sold in 2024

 

In 2024, 822 storage properties were sold, totaling $3 billion in investment sales, according to Yardi’s StorageCafe.

 

Five-Property Portfolio Changes Hands

 

Madison Capital Group and affiliates of Cerberus Capital Management sold a five-property self storage portfolio including three in the metro area of Houston, Texas, and two in Providence, Rhode Island.