Inside Self-Storage

OCT 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.

Issue link: http://digital.insideselfstorage.com/i/1018838

Contents of this Issue

Navigation

Page 7 of 59

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 page or e-newsletter. Visit insideselfstorage.com/happenings/news or insideselfstorage.com/newsletter. Operators in the Spotlight Robert Moser, president and CEO of Prime Group Holdings LLC, donated $2.5 million to the new pediatric emergency room that recently opened at Albany Medical Center in Albany, N.Y. The gift was made to the $50 million medical center during its annual "Light Up the Night" fundraising gala. English self-storage operators Armadillo Self Storage, St. Neots Self Store and Storage King are participating in the nationwide "Wave of Gratitude" campaign, which celebrates women who contributed to their communities during World War I. The companies are seeking stories about local heroines. The most inspiring accounts will be imprinted on facility banner displays. National Storage Affi liates (NSA) has formed a joint venture with an aff liate of Heitman Capital Management LLC to acquire 112 Simply Self Storage facilities from a private real estate fund managed by Toronto-based Brookf eld Asset Management Inc. The $1.325 billion deal comprises 8.7 million rentable square feet across 17 states and Puerto Rico. NSA intends to rebrand the locations as iStorage. 72nd Street Self Storage in Ralston, Neb., has been identif ed as a community landmark by a new city-sanctioned preservation committee. Now, its buildings could be designated as historic. The facility served as home to Omaha Brickworks from 1946 to 1996. U-Store Management Corp. partnered with Sign of the Times Cultural Workshop and Gallery to restore "The Washington Mural," which adorns a wall at a U-Store Self Storage location in Washington, D.C. The refreshed artwork, which celebrates the arts and music history of the nation's capital, was unveiled on July 17. The mural depicts several artists including Roberta Flack, Marvin Gaye, Denyce Graves and Davey Yarborough. A Los Angeles facility owned by real estate investment trust Public Storage Inc. now displays a plaque identifying it as the site of a former movie studio. Established in 1912, Keystone Studios was best known for producing comedic scenes in which a pie in the face was common. A plaque on a corner of the last remaining original building reads, "This was the birthplace of the motion picture comedy." Don Temple Storage U-Store & Lock in Long Beach, Calif., which proclaims to be Southern California's f rst self-storage facility, celebrated its 50-year anniversary in July. A party to honor the milestone and facility owner Don Temple, who died in 2013 at age 85, was held at Long Beach Police Off cers Association Park. Open to the public, the three-hour event included music, refreshments and giveaways. Life Storage Inc. recently made several upper-level staff changes. The company appointed Jonathan Attea as director of acquisitions and hired Joe Magiera as project director of construction management. It also promoted Michael Osciak and Dale Payne to directors of human resources and business development, respectively. Out of the Ordinary A 19-year-old construction worker fell to his death in July while working on the roof of a CubeSmart facility in Baltimore. Cesar Ismael Villalobos Lima tried to use his foot to stop a large cart from rolling off the roof, but the piece of equipment pushed him over the edge. Maryland Occupational Safety and Health is investigating the incident. Police shut down Shogun Self Storage in Spokane, Wash., in July after years of alleged code violations. A 150-page abatement warrant f led in Spokane County Superior Court describes the business as a "drug nuisance property." The facility, now boarded up, has been under investigation since 2011. A 30-year-old woman was arrested after allegedly ramming her car into a self-storage tenant's vehicle at Murphy Street Mini Storage in Missoula, Mont. An unidentif ed man called police claiming Amber Marie Silva was preventing him from leaving the storage property by blocking his car. By the time police arrived, a collision between the two vehicles had occurred. The Superior Court of Pennsylvania has upheld a lower-court decision to throw out a tenant lawsuit against Weigh Scales Mini Storage Inc. of Shamokin, Pa. The statute of limitations for the plaintiff, a woman identif ed only by the last name of Woodland, to make her claim had expired. Woodland rented a self-storage unit in October 2014 and discovered in March 2015 that it was infested with mice, who allegedly caused damage to her belongings. Though she vacated the property by May 31, 2015, she later was diagnosed with Lyme disease, which she believed was contracted from the mice in her unit. She then sued the self-storage operator for negligence. Male human remains were found at a self-storage facility in Okleigh, Australia, a suburb of Melbourne. The body was wrapped in plastic and stuffed inside a garbage bin at Total Self Storage & Removals. It was discovered by workers who'd been clearing the premises after the property was sold. Police have identif ed the remains and deemed the death suspicious. Some shareholders of U.K. self-storage operator Big Yellow Group PLC are against the company's revamped remuneration policy. The company has proposed executive salary increases as high as 40 percent to occur over a three-year period. Investment f rm Royal London Asset Management, one of the operator's largest shareholders, has already indicated it will oppose the pay hike. ISS Store Offers 2018 Top-Operators List Package The Inside Sel f-S torage Store has released its 2018 To p-O perators List package featuring separate data rankings on 100 of the industry's largest sel f-s torage owners and 50 thir d-p arty management companies. Containing a customizable Excel spreadsheet with a full breakdown of real estate investment trusts, mult i-f acility operators and property managers as well as a PDF analysis report, it's available on demand at iss-store.com by selecting "To p-O perators List" from the lef t-h and navigation bar. 6 ISS I October 2018 www.insideselfstorage.com

Articles in this issue

Links on this page

Archives of this issue

view archives of Inside Self-Storage - OCT 2018