Inside Self-Storage

FEB 2019

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 The Inside S Early-bird registration rates for the Inside Self-Storage World Expo at The Mirage Hotel & Casino in Las Vegas, April 1-4, will expire on Jan. 29. The discounts allow attendees to save $350 on the All-Access Pass, $175 on the Seminar-Track Package and $40 on the Expo-Only Package. They'll also save $200 on each of eight workshops. Details can be found and registration completed at The Inside Self-Storage Store has released its 2019 Guidebook Series covering all aspects of the storage business. The new set of publications can be purchased in on-demand or hard-copy formats and are available individually or in a discounted bundle. Options are the "Building/Investing Guidebook" and the "Facility-Operation Guidebook." Details can be found at The ISS Store has also released its Self-Storage Maintenance Package 2019: Monthly Task Calendars and Guide. Designed for facility managers, the package includes detailed, customizable monthly calendars for 2019, which outline tasks by day, week and season. It also includes a 64-page digital book containing expert advice on industry-related maintenance. The package is available for purchase at Operators in the Sp Bob and Linda Snyder, owners of Catawba Mini Storage in Port Clinton, Ohio, awarded 45 grants totaling $155,000 to local nonprof ts in November using funds collected from their community thrift store, Portage Resale Center. The couple established the store in 2011. They've gifted $594,000 to various agencies since its inception. Extra Space Storage Inc. has partnered with solar-power company Pivot Energy to add 2.7 megawatts of capacity at 23 of its locations in Colorado and Illinois. The environmental impact of the solar projects will be the equivalent of taking more than 600 cars off the road each year. Stor-Age Property REIT grew its quarterly dividend 9.1 percent during the sixth-month period that ended on Sept. 30, to 51.3 cents per share. The growth was the third highest among property-focused stocks on the Johannesburg Stock Exchange during the period. The company also sponsored the f fth annual "Old Boys Tens" rugby and netball tournament in November at the Stor-Age Pirates Rugby Club in Johannesburg. The tournament served as a fundraiser for the nonprof t Education Endowment Fund, which is designed to improve educational opportunities in disadvantaged communities. W. P. Carey Inc. completed a merger with its managed fund CPA:17 – Global (CPA:17). The $5.9 billion deal brought 44 net-lease self-storage properties, among other assets, fully under the W. P. Carey wing, boosting its portfolio to 1,186 net-lease properties comprising 133 million square feet. KingKho Mini Storage opened the f rst self-storage facility in the Hadong District of Hanoi, Vietnam. The facility comprises more than 1,000 square meters of storage space in four unit sizes. Co-founders Vinh Do and Lorenz Wagener believe Vietnam's growing economy will help fuel consumer demand for self-storage. The Leader in Self-S Insight and Edu Guidebook 2019 2019 GUIDEB SERI $129.00 US Out of the Ord Wilbur James Whalen Jr., owner of Whalen Mini-Storage in Elkton, Md., was arrested and charged with maintaining a drug-related common nuisance and disorderly house. Police claim Whalen is allowing people to live inside the storage units in exchange for cash. Police responded to 26 calls for service at the facility between Oct. 9 and Nov. 26, including those for drug possession and overdose, f ghting, theft, and a stabbing. A manager at an Extra Space Storage facility in Fairf eld, N.J., stumbled upon two pounds of marijuana after mistakenly opening a package addressed to one of the company's tenants. The manager notif ed authorities after realizing the parcel delivered by mail contained two vacuum-sealed packages of the suspected cannabis. When the tenant, Mark Barsoum, arrived to claim the package, he was arrested. A man who purchased the contents of a self-storage unit for $500 discovered a safe inside containing $7.5 million in cash, according to Dan and Laura Dotson, owners of American Auctioneers, the company that presided over the sale. After the discovery, the man was approached by an attorney representing the safe owner, who offered him $600,000 to return the money. He declined the original offer but settled on $1.2 million, refunding the remainder of the cash. In Memor Self-storage veteran Richard (Rick) Jeffery Yonis, president of Sentry Self Storage and past-president of the Florida Self Storage Association (FSSA), passed away peacefully at his home in Grapevine, Texas, on Nov. 14 after a fight with sarcoma, a rare kind of cancer. He was 61. Yonis served as president of the FSSA from 2007 to 2010 and was division vice president at Storage USA for 13 years prior to joining Sentry. He is survived by his wife, Robin; children Caitlin Lewis, and David and Joshua Yonis; and additional family members. 6 ISS I February 2019

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