Inside Self-Storage

MAY 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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California Association Hosts Owners Conference The California Self Storage Association is hosting its annual Owners Conference in Napa, Calif., May 8-9. The event will take place at the Silverado Resort. It will include an optional charity golf tournament and wine-tasting tour on May 8, followed by a full day of education on May 9. The theme for this year's conference is "Where Technology Meets Operations." Presentations include a small owner's meeting focused on operational best practices, "Split Roll Tax Update & Impact," a legislative update, "Economic Picture," a keynote speech by Steve Hartman, "The Future Now" panel discussion and "Five Worst Self-Storage Claims." It closes with an evening reception. Details and registration information can be found at californiaselfstorage.org. Inside Self-Storage will participate as a Gold Sponsor, distributing free magazines and other information via its networking station. NEWS Legislation The West Virginia Legislature is considering an update to the state's self-storage lien law that would enable facility operators to send default notif cations via e-mail or text, advertise auctions by e-mail or a website, and conduct lien sales online. House Bill 2761 was introduced to the senate judiciary committee in February. It would supplant the state's current lien law, which was passed in 2001. The New Hampshire Self Storage Association and national Self Storage Association have written an update to the state's self-storage lien law that would enable facility operators to send sale notif cations via e-mail, conduct lien sales online, place value limits on stored items, charge late fees, and tow motor vehicles from spaces that go unpaid. Senate Bill 192 was before the Commerce Committee at the time of this writing. 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 insideselfstorage.com. Resources Yardi Systems Inc., which provides management software for self-storage and other types of real estate, has released a "National Self Storage Report" through its Matrix data-services platform examining the impact of supply across the United States. The six-page publication compiles data from more than 2,000 properties in the pipeline. It includes information on development projects and rental rates for 31 markets. Commercial real estate f rm Marcus & Millichap has released a 2019 U.S. investment forecast, available for free download from the its website. The 51-page PDF report offers analytical insight on a national, regional and local level. List Self Storage, an online platform for the sale and purchase of self-storage properties, will now offer InSite Market Reports from StorTrack, a provider of competitor-pricing data, market- analysis tools and f rst-stage due diligence, via its online platform. The reports combine StorTrack's pricing data with key market indicators, such as demographics, to offer valuation insights on any chosen market. ISS World Expo DVDs Available for Pre-Order The education DVDs recorded during the 2019 Inside Self-Storage World Expo in Las Vegas, April 1-4, are available for pre-order. Customers can choose from 42 individual seminars and multiple discount packages, including by education track. Individual sessions will also be available in July as on-demand video. For more details, visit iss-store.com. VendorWorks Insurance industry executive Mario Macaluso has launched Best Self Storage Insurance LLC, an independent agency offering integrated insurance solutions to the storage industry. Programs include business policies and tenant insurance. Macaluso co-founded the SBOA Tenant Insurance program, the insurance arm of the Storage Business Owners Alliance LLC buying group, in 2011. Easy Storage Solutions, a provider of Web-based management software for small- to mid-sized self-storage operations, has launched a third-party management and consulting division. It'll be led by Rick Beal, vice president of management and development. Self-storage real estate investment trust and third-party management f rm Extra Space Storage Inc. is now offering a bridge-lending program targeted at non-stabilized storage facilities. The company entered the f nance sector to f ll a capital void in the market, according to company off cials. Janus International Group, a global manufacturer and supplier of building solutions and technology for the self-storage industry, will release an updated and enhanced version of its original Model 3100 roll-up door. Available this spring, Model 3100 IM will offer increased mounting options, including steel and wood jams. Hampshire Real Estate Cos., a private real estate investment f rm and self-storage operator, has entered a joint-venture partnership with real estate f rm Harrison Street to develop self-storage facilities along the Interstate 95 corridor from Boston to Washington, D.C. The f rst project will be a newly built, seven-story facility in Providence, R.I., which is expected to break ground this quarter. 6 ISS I May 2019 www.insideselfstorage.com

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