Inside Self-Storage

SEP 2018

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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NEWS Looking for news on industry acquisitions, sales, new hires, new products, events, legislation and more? Keep on top of late-breaking news with the ISS news feed or newsletter. Choose your option at VendorWorks Storage Treasures LLC, which owns online-auction platform StorageTreasures. com, has acquired competing auction provider StorageStuff.Bid. As part of the transaction, StorageStuff auctioneers Cheli and Chris Rosa, a married couple, will off cially join the team at OpenTech Alliance Inc., which manages the Storage Treasures website and is the company's majority stakeholder. Storage Business Owners Alliance LLC has partnered with property-management technology f rm Motili to provide a maintenance platform to its members that will offer electrical, equipment, HVAC and plumbing services. Motili provides nationwide invoicing, ordering and scheduling for property maintenance and repair as well as equipment replacement. StoreLocal has partnered with Janus International Group LLC to offer the SecurGuard Smart Entry System to its members. The product will be integrated with StoreLocal's digital signage, new-tenant interface, and online search and rental platform. SiteLink has added an interactive map to myHub, the browser-based companion to its Web Edition software. The new functionality helps tenants visualize unit locations and reserve units directly from the map, which works on multiple browsers, screens and devices. Yardi Systems Inc. has released a "National Self Storage Report" through its Yardi Matrix self-storage data-services platform examining the impact of self-storage supply across the United States. The six-page report includes information on development projects and rental rates for 31 markets. Research f rm Union Realtime LLC has partnered with Life Storage Inc. on an initiative to consolidate development data across the self-storage industry. Life Storage will add its development information into Union's database of more than 2,400 projects. XPS Solutions has released two reputation-management products for facility operators: Reputation Optimizer and Reputation Surveyor. The offerings aim to bolster customer reviews for independent sites as well as improve overall scores. Colliers International Group Inc. has agreed to acquire a 75 percent stake in investment-management f rm Harrison Street Real Estate Capital LLC (HSRE). The $450 million deal is expected to close during the third quarter. Christopher Merrill, co-founder and CEO of HSRE, will serve as CEO and remain the f rm's largest individual shareholder. HPI Horne Storage, a joint venture between HPI Real Estate Services & Investments and self-storage developer Hugh Horne, plans to build a national portfolio across eight to 12 markets nationwide. The company has raised more than $30 million through its HPI Storage Fund I, intending to fund up to 10 projects. The company envisions developing more than 20 facilities in the next three to five years. International real estate f rm Hines intends to diversify its commercial portfolio with three self-storage facilities planned for the Phoenix metro market. It's considering projects in Glendale, Scottsdale and Surprise, Ariz., as well as Colorado and Texas. Getting Literary Adam Baumann, owner of three self-storage facilities in British Columbia, is the subject of a new book coming out soon. "The Upside of Hunger, a True Tale," written by Roxi Harms, will chronicle Baumann's immigration to Canada from Hungary, his time as a teenage World War II soldier and his business ventures. Proceeds from book sales will benef t the Adam Baumann & Roxi Harms Scholarship Fund. Baumann and his wife, Jean, own OK Mini Storage, Penticton Self-Storage and Vernon Mini Storage as well as several other ventures. Author Jay Bonansinga, best known for writing "The Walking Dead" novels based on the Robert Kirkman comic-book series, is working on a movie adaptation of his supernatural thriller "Self Storage." Released in 2016, the story revolves around Johnny Fitzgerald, a graphic illustrator with a heroin habit. When Johnny accidentally gets trapped inside a deserted self-storage facility with his 6-year-old son, he is forced to face demons both real and imagined. Actor Lew Temple will play the title role. 10 ISS I September 2018

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