DOCSLIB.ORG

An Introduction to Self Storage

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
An Introduction to Self Storage AN INTRODUCTION TO SELF STORAGE COMPETITIVE ENVIRONMENT Looking at the state-of-the-art facilities across the country, it is hard to believe that less than 50 years ago our industry was a “Mom and Pop” operation. The lack of information on building and operating storage properties in the ’60’s and ’70’s forced owners/operators to rely on their own business intuition and knowledge of community needs. However, these early entrepreneurs had a significant advantage, because there was virtually no competition in the marketplace! In almost every instance, the customers’ demands for self storage space were far in excess of supply. Today’s storage investor operates in a very different environment, facing a highly competitive marketplace, and keeping abreast of the competitive edge requires a new level of sophistication in choosing your location and developing your project for maximum profits. POWER OF A PROFESSIONAL ASSOCIATION The Self Storage Association has compiled information with the “third generation” owner/operator in mind. Self storage, like other forms of real estate, is a fixed investment with relatively little fluidity. However, knowledge is power and the SSA is providing a variety of tools for the self storage professional to maximize profitability, reduce liability, and prepare for an ever changing business environment. As with all real estate ventures, the adage “location, location, location” is the key when choosing your site, thus stressing the importance of “doing your homework” by obtaining a feasibility study from a reputable company. Therefore, it is no longer advisable to build out your “5 acres” without knowing the storage saturation level in your market area. And, the Self Storage Association can provide access to self storage vendors, education products, certification programs, trade show and conferences that are providing valuable information to new developers as well as seasoned storage owners and managers. WHAT IS SELF STORAGE Self storage is the term applied to facilities offering rental on a month-to-month basis where the tenant applies his lock, hopefully one that you have sold him from your retail sales inventory, and has sole access to his unit. Basically, we do not want to create a bailment by taking the care, custody or control of the customer’s goods. While many types of structures have been converted from warehouses, car dealerships, and other prior-use buildings, the most common types of facilities were designed specifically for the purpose of storing a customer’s goods. A typical storage facility might be on approximately 2.5 to 5 acres with five to seven one-story drive up buildings, possibly one to two story buildings, with a good unit size mix of (forty to eighty-thousand square feet of rentable space), large roll-up doors and direct drive-up access to conventional outside units. It may also offer outside parking for boats and motor vehicles. Some storage properties offer climate controlled units, whether newly constructed or renovated buildings, usually offer access from interior hallways. Multi story construction, popular for climate control, also provides access through interior hallways and elevators. Usually, dollies and furniture carts for moving customer goods are provided as a customer service tool. Facilities vary in size, quality, construction, materials, and surveillance measures, and added services may include: • 10,000 square feet to an excess of 100,000 square feet. • Wide range of standard sizes - 5' x 5' to 10' x 30' or larger with the average unit size being about 100 square feet (10x10). • Outside parking for RV’s, boats, etc. • Single and/or multi level facilities. • Resident Manager apartment on-site. • Converted buildings (old supermarkets, big box retail warehouses, etc.). • Units divided by corrugated steel panels (most widely used), chain-link fencing, plywood upon stud and drywall or stud and particle board. • Movable module units (storage containers). • Automatic gates with keypad computerized access. • Surveillance cameras and monitoring stations. • Individual door alarms. • Well lighted. • Completely fenced. • Paved or concrete driveways. • Retail merchandise available. • Ancillary income sources (e.g. cell towers, US Postal service, private mailboxes, EBay, overnight shipping, business centers, utility payments, etc.). 2 REAL ESTATE CHARACTERISTICS The following is a list of the distinctiveness you will find in the self storage business which includes: 1. Simplified building structures. 2. A short construction period enabling rapid initial rentals. 3. Low operating expenses and non-energy intensive. 4. Month to month leases, highly responsive. 5. Adjustable unit mix due to movable partitions. 6. Not labor or maintenance intensive. 7. High building rentability (near 100% for single story, 75% for multi story). 8. Many tenancies, spreading vacancy risk factor. 9. Basic function resistant to economic shifts. 10. Cash flow oriented real estate investment. Historically, the storage industry is marked by past success. As a real estate investment, storage compares favorably with other real estate investments which benefited from inflation during the 1970's. In the past, the formula, simply stated, was to build inexpensively and expect big dollar returns. With increasing land costs, escalating city and county building requirements, developers are getting more creative at finding and developing self storage sites. SELF STORAGE HISTORY We believe that personal storage first began in England when British banking institutions were asked to safeguard valuables for clients embarking on extended voyages. Overcrowded vaults quickly forced bankers to seek storage in lofts from drayage (moving) companies. In the 1850’s, the first warehouse specifically constructed for household and personal items was built. This two story structure was built with packing on the lower floor and private storage rooms on the second. For the next sixty years, the storage industry stayed relatively unchanged. Warehouses began increasing in size to as much as ten stories utilizing freight elevators to reach the storage rooms. During the 1950’s, the storage industry was faced with rising cost of warehouses and land. As a result, palletized warehousing was developed. Tenants' goods were crated and stacked three high in wooden boxes moved around with a forklift. While the concept worked well, it was inconvenient and costly to the customer. In the mid 1960’s, Texas saw the first generation “self storage” facilities as we know them today. Becoming immediately successful, development of facilities spread quickly to the west coast and then throughout the United States and Canada. Then, the concept of “self storage” was being constructed in Australia, Europe and around the world. The majority of facilities operating today may be classified as "second generation" self storage. These include: typical row buildings, some multi story facilities and conversion of older buildings. The "third generation" of self storage is characterized by the following: retail locations, light commercial or even multi family residential neighborhoods (rather than the traditional industrial corridor or location in heavier commercial areas). These newer facilities emphasize aesthetics in construction, designed to blend in with the "retail" nature of the neighborhoods they serve. 3 Landscaping has also become a prime consideration, as well as development of storage in conjunction with a planned tract of offices, retail stores, or business park development, combining “incubator” office space with storage or “super centers” (retail strip mall with storage complex). All this with the goal of creating a stable, secure, upscale image that develops a strong perception of trust among local consumers. RENTAL RATES The first projects which, in 1969, were renting for .15 cents per square foot per month in 1985, were renting for .60 cents per square foot per month, in the late 90’s averaging $1 per square foot, and the 20th century has seen average rents of $1.50 up to $4 per square foot per month in high population markets. Investors were attracted to storage early on because of the return on investments and the perceived ability to increase that return with a "small dollar" rent increase which yields a considerably larger percentage of return. Will this ability to raise rents continue? The past few years have witnessed the first signs of strong competition in specific local markets. In some areas the supply of storage units has begun to outstrip the demand. Older projects (at least those which were poorly or cheaply built) have suffered, with an increasing share of the market dollar going to the more sophisticated and aesthetically pleasing facilities that meet the market's demand for upscale, high tech product. These newer facilities will be considerably more expensive to construct than the facility of the past. The value of the land in a favored location can now be as much as 50 percent of the project, with debt service a significant factor in the cost. All these factors must be considered by the prospective investor or lender prior to entering the mini storage market as it exists today. Self storage has matured as a viable real estate form and is now prevalent throughout the United States and several foreign countries. While still viewed by many in the real estate industry as an "ugly duckling", self storage has proven its value as a basic real estate product with many unique, high performance characteristics. Self storage has spread, survived good and bad economic conditions, and developed as an industry with its own association and specialized suppliers. It has also demonstrated great popularity as an investment, and begun to attract substantial new interest in the real estate community with the evolution of "third generation" properties which maximize both the business and real estate aspects of the industry. The upheavals in the real estate industry the past few years have left self storage in a much more favorable position in comparison with other real estate types. As self storage has spread, the market has become familiar with it, in some places to a greater extent than in others.
Load more

Recommended publications
  • Sustainability Report
    TABLE OF CONTENTS Message from the CEO 1 Sustainability Highlights 2 Sustainability Strategy 3 Portfolio Overview 4 Environmental Report 5-7 Social Report 8-15 Company Awards 9 Employee Demographics 11 Governance Report 16-17 Resiliency 18-19 ESG Targets 20-21 Appendix 1: Consumption Data 22-24 Summary 22 Like-For-Like 23 Intensity Rates 24 Appendix 2: SASB Index 25-26 Appendix 3: COVID-19 Response 27-28 Corporate Information 29 WELCOME TO OUR SUSTAINABILITY REPORT Fellow Stakeholders, In 2020, we felt the weight of the COVID-19 pandemic and the clear work still needing to be done to address systemic social and racial injustices. In a year with many challenges and unknowns, our dedication to Environmental, Social, and Governance (ESG) Initiatives and our company values of integrity, excellence, innovation, teamwork, and passion helped Extra Space to maintain performance and continue to improve. Our sustainability initiatives are based on a long-term perspective for our company; we are building Extra Space to be a strong, successful enterprise for decades to come. We are proud of the innovations we are putting in place today to make our company and the world better tomorrow. Good ESG policies and practices benefit shareholders, communities, employees, customers and the environment. This report shows how we fulfil our commitment to be a responsible investor, owner, and operator of self-storage properties, and a disciplined steward of shareholders’ capital. Highlights from the report include celebrating the 10th anniversary of our solar program, continuing our diversity and inclusion initiatives that have been building since 2018, impressive progress on our ESG targets, and our COVID-19 response that prioritized employee and customer health.
    [Show full text]
  • The King of Storage the SSA Rocks Vegas September 5–7
    Vegas Conference & Trade Show Co-Sponsored Info by the Inside… Nevada SSA! FOUNDATION VOL. 11, NO. 9 SEPTEMBER 2012 ISSUE $8.00 / ANNUAL $96 THE OFFICIAL VOICE OF THE SELF STORAGE INDUSTRY The King of Storage The SSA Rocks Vegas September 5–7 TROUBLED WATER HAIL, CAESARS! KEEP ON Truckin’ P.8 P.14 P.20 FOUNDATION September 2012 Published for the SSA by the Self Storage Association Foundation Viewpoint. .................... 4 Legal Q & A .................. 35 TROUBLED WatER Las Vegas storage operators are up in arms SSA Education ................ 54 over a controversial water surcharge. P. 8 2012 CSSM List ............... 56 SSA Member Benefits .......... 58 State Association News ......... 65 HAIL, CAESARS! The SSA’s host hotel has welcomed many Around Self Storage .............81 memorable movies, TV shows and sporting events. P.14 Globe Advertisers .............. 85 Data Depot. 86 KEEP ON TRUCKIN’ U-Haul International Chairman Joe Shoen looks to the future in his SSA convention keynote address. P.20 CLASS IS IN SESSION We profile each of this year’s SSAF scholarship recipients. P.28 SSA HALL OF FaME The SSA is proud to induct John Yelland and Lorin Christean into its Hall of Fame. P.47 TRADE SHOW TIPS Here are some suggestions on how best to maximize your trip to Vegas. P.52 Cover photo by Ben Zimmerman, taken at National Self Storage in Las Vegas, Nevada. Publisher The SSA Globe is published by the Art Director Michael T. Scanlon, Jr. Self Storage Association Foundation Jan Sklennik [email protected] 1901 N. Beauregard Street, Suite 450 Alexandria, VA 22311 Staff Writers Executive Editor Phone 703.575.8000 Timothy J.
    [Show full text]
  • Self Storage
    SELF STORAGE ANNUAL INDUSTRY REPORT 2020 UK Industry Customer Public Europe Overview Survey Survey Survey P.70 P.12 P.22 P.40 P.58 SUMMARY OF KEY FINDINGS OCCUPANCY ON THE UK AVERAGE CURRENT LETTABLE NET RENTAL SPACE IS RATE IS 76.2% £22.82 DOWN FROM 77.2% PER SQUARE FOOT LAST YEAR PER ANNUM RENTAL RATES FOR THE FIRST TIME IN LONDON IN 8 YEARS THE 13% INDUSTRY SAW A INCREASED OF OPERATORS DECREASE INCREASED THEIR MORE THAN ANY LEVEL OF DISCOUNTS OTHER REGION IN IN OCCUPANCY AND IN 2019 THE YEAR RENTAL RATES 2 Cushman & Wakefi eld RATES AND TAXES MAKE UP 69% 41.1% OF SELF STORAGE OF SELF STORAGE 22% USERS ARE CUSTOMERS HAVE OF STORE 40 – 79 USED SELF STORAGE EXPENDITURE YEARS OLD PREVIOUSLY DIVORCED OR SEPARATED 72% 86% PEOPLE ARE OF BUSINESSES OF PEOPLE TWICE AS THAT USE SELF TRAVEL LESS THAN STORAGE HAVE LESS 30 MINUTES TO THEIR LIKELY THAN 10 STAFF SELF STORAGE UNIT TO USE SELF STORAGE 32% 91% 48% OF SELF STORAGE OF CUSTOMERS OF THE PUBLIC HAVE CUSTOMERS ARE SATISFIED WITH A GOOD AWARENESS ARE INVOLVED IN THE SERVICE FROM OF SELF STORAGE MOVING HOUSE THEIR SELF STORAGE PROVIDER Self Storage Association UK 3 CONTENTS INTRODUCTION AND METHODOLOGY 06 COVID-19 IMPACT ON THIS REPORT 07 INDUSTRY OVERVIEW 08 UK INDUSTRY HIGHLIGHTS 10 UK ECONOMIC AND POLITICAL OVERVIEW 12 INDUSTRY SURVEY 22 CUSTOMER SURVEY 40 PUBLIC SURVEY 58 EUROPE 70 US COMMENTARY 72 CONTRIBUTORS 74 CONTACTS 75 4 Cushman & Wakefield Self Storage Association UK 5 INTRODUCTION AND METHODOLOGY This is the 14th year the Self Storage Association UK (SSA UK) has surveyed its members and produced an annual industry report.
    [Show full text]
  • U.S. Self Storage Investment Forecast Marcus & Millichap
    2018 SELF-STORAGE U.S. Investment Forecast 2018 U.S. Self-Storage Forecast To Our Valued Clients: The impressive growth illustrated by the self-storage sector over the past several years has given way to the inevitable wave of construc- tion currently coming to market, but the outlook remains particularly compelling. Strong economic growth, including robust job creation, rising wages and elevated confi dence levels, will align with positive demographics to reinforce demand trends. The storage needs of the 80 million-strong millennial generation should support self-storage, particularly as this generation favors the fl exibility and mobility of a rental lifestyle. In addition, the anticipated expansion of small businesses in the coming year could reinforce the need for self-storage space. Together, these positive demand drivers should nearly keep pace with construction on a macro level. Self-storage construction has been concentrated in markets with vast population and employment growth, but numerous metros have yet to see a signifi cant wave of development. While this has caused the investment climate to become increasingly tactical, a wide range of options remain available. Even within metros that have seen signifi cant development, niche opportunities exist. Numerous service innovations and fl exible storage solutions have begun to emerge that could reshape the sector. For hands-on investors who are illingw to engage innovative ideas, the potential for outsize growth remains. The new tax law could play a signifi cant role in the outlook for self-storage investment. In addition to spurring economic growth and lifting sentiment among consumers and businesses alike, the fi nalization of the law has begun to alleviate the uncertainty that modestly slowed investor activity.
    [Show full text]
  • MARKET Storage Operators Worldwide Compare Their Challenges, Victories and Goals
    www.insideselfstorage.com INSIDE: • Rebooting in Asia • Building in the Philippines • Growing in Australasia • Maturing in Europe • Fostering in Finland • Breaking ground in Germany • Building up in Latin America INTERNATIONAL • Weighing risk in Canada APPLYING INDUSTRY FUNDAMENTALS TO THE GLOBAL MARKET Storage operators worldwide compare their challenges, victories and goals EXPAND YOUR KNOWLEDGE Learn what you need to be successful in any global self-storage market. Fall 2017 $15.00 US www.iss-store.com INSIDE SELF-STORAGE INTERNATIONAL I FALL 2017 FEATURES 4 The Storage Industry Surges Ahead 21 Demand on the Rise in Finland Development is surging as major population centers Although the Finnish self-storage market is still relatively continue to embrace the product and institutional new, the demand for the service is great. Cityvarasto, funding looks for scalable development partners. the country’s largest operator, is leading the way for Here’s global view of industry trends, awareness industry growth. and transactions. By Ville Stenroos By David Blum 23 Embracing Mixed-Use Development 7 The Sun Shines on Asia in Scotland A year after a fatal fire at a facility in Hong Kong, the When Storage Vault set out to build its second property, industry is starting over. Operators and investors are the company first examined the needs of its customer optimistic about growth and the opportunity to build a base. What it discovered would take the growing sustainable business platform. company down a new path. By Luigi La Tona By Amy Campbell 9 Building an Empire in the Philippines 24 An American Builds in Germany Howard Sy eschewed the family shoe business to build The market remains largely untapped and ripe for his own self-storage empire.
    [Show full text]
  • Self Storage Investment Opportunity
    SELF STORAGE INVESTMENT OPPORTUNITY Acorn Storage Center 19199 State Highway 413 Branson West, MO 65737 JARED JONES, CCIM Jones Investment Properties 6350 S. Lewis, Suite B | Tulsa, OK 74136 | 918-948-3941 | [email protected] Confidentiality & Disclaimer The Argus Self Storage Sales Network (Argus) is not the listing agent for this property. Offers to buy or sell this property can only be made through the listing agent identified herein. Argus is a marketing consultant that provides certain marketing assistance to the listing broker and is not a party to the listing agreement or any other agreement relating to the property. The Seller is the owner or the authorized agent of the owner, of the property offered for sale and the subject of the listing agreement between Broker and Seller. Disclaimer: Neither the Seller, Owner, Broker, or Argus represents, warrants, either by implication nor express statement, the accuracy or completeness of the information contained in this property presentation. The information contained herein has been prepared from sources believed to be reliable but has not been independently verified by the Broker or Argus as to accuracy or completeness. No warranties or representations, express or implied, are made as to the information presented herein. Warranties or representations can only be made by the Seller or Owner in a written and fully executed purchase and sales agreement between Seller and purchaser. Projections in the presentation are based on assumptions and interpretations based on future events, market conditions, managerial operations beyond the control of Argus, Broker, Seller or Owner, and, therefore, subject to error and change without notice.
    [Show full text]
  • Planning Commission Meeting Agenda
    Columbia County Planning Commission 114 South 2nd Street, Dayton, WA 99328 Meeting Agenda Monday, June 10th, 2019 @ 5:30 PM 1) Call to Order 2) Roll Call and Establish Quorum 3) Approval of Meeting Minutes th a. May 13 , 2019 4) Public Hearings a. None scheduled 5) New Business a. Public request for amendment of Light Industrial zone 6) Old Business a. 2020 Comprehensive Plan Update i. Comprehensive Plan submitted to the Department of Commerce ii. Presentation of tentative schedule 7) Commissioner Reports 8) Director Report 9) Comments from the public and items not present on the agenda 10) Adjournment th a. Next meeting: Monday, July 8 , 2019 @ 5:30 pm Page 1 of 1 Columbia County Planning Commission 102 Fairgrounds Lane, Dayton, Washington 99328 (Youth Building) Meeting Minutes Monday, May 13th, 2019 @ 5:30 PM 1) Call to Order a. Chair Jason Towery called to order the regular meeting of the Columbia County Planning Commission at 5:33 pm. 2) Roll Call and Establish Quorum a. Commission members present: Jay Ball, Jason Towery, and Chuck Reeves Members absent: Bryan Martin Staff: Meagan Bailey, Planning Director Special guest: Ben Floyd, Consultant for Comprehensive Plan Public: Sign-in Sheets 3) Approval of Meeting Minutes a. April 22nd, 2019 i. Reeves made a motion to approve the meeting minutes as presented; Ball seconded. None opposed; motion carries. 4) Public Hearings a. None scheduled 5) New Business a. 2020 Comprehensive Plan Open House i. Consultant Ben Floyd opened the discussion with a presentation on the Comprehensive Plan update, including an update on recent proceedings for the update, new code additions, as well as a brief discussion on the GMA and the goals/intent of the Comprehensive Plan.
    [Show full text]
  • 2019 Annual Conference the Woodlands Waterway Marriott October 13-15, 2019 | the Woodlands, Tx
    2019 ANNUAL CONFERENCE THE WOODLANDS WATERWAY MARRIOTT OCTOBER 13-15, 2019 | THE WOODLANDS, TX Stand Strong in the Face of Change TEXAS SELF STORAGE ASSOCIATION txssa.org 888.259.4902 SCHEDULE-AT-A-GLANCE SUNDAY, OCTOBER 13 12:45 – 2:00 p.m. Board Meeting 3:00 – 6:00 p.m. Sunday Social at Top Golf (offsite) 7:00 – 10:00 p.m. Charity Poker Tournament & Poker Alternative: The Chill Zone MONDAY, OCTOBER 14 7:00 a.m. – 6:00 p.m. Registration Open 7:30 – 8:00 a.m. Early Bird Mini Session: Top 5 Things to Know About Getting Into the Self-Storage Business 8:15 – 8:45 a.m. New Member & First-Time Attendee Orientation 9:00 – 10:00 a.m. OPENING GENERAL SESSION: Perceptual Reality: The Secret to Thriving in a Competitive Environment 10:00 – 10:30 a.m. MEET UP: Developers & Looking for Investment Partners 10:30 – 11:30 a.m. EDUCATION SESSIONS STAFF / TEAM LEADERSHIP DAILY OPERATIONS PROPERTY DEVELOPMENT STRATEGIC VIEWPOINT Building and Maintaining a Great Show Me the Money: Managing Propaganda or Truth? Really Navigating the Current Acquisitions Self-Storage Workforce/Team Revenue in a Competitive Market Understanding Your Market Landscape 11:30 – 11:45 a.m. MEET UP: New to Industry and/or Looking for Mentor 11:45 a.m. – 1:00 p.m. Membership Luncheon 1:15 – 2:15 p.m. EDUCATION SESSIONS STAFF / TEAM LEADERSHIP DAILY OPERATIONS PROPERTY DEVELOPMENT STRATEGIC VIEWPOINT Are Your Store Employees Ideal Manager Workshop, Part 1 Building Your First Facility: A Primer Anatomy of an Industry Disrupter: Dishonest? How to Catch Them CallBox Storage 2:30 – 4:00 p.m.
    [Show full text]
  • STORMAX STORAGE & INDUSTRIAL Offering Memorandum
    Offering Memorandum STORMAX STORAGE & INDUSTRIAL 101 Mauldin Rd NW • Calhoun, GA 30701 1 NON- ENDORSEMENT AND DISCLAIMER NOTICE Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided.
    [Show full text]
  • Self Storage Primer
    SelfSelf StorageStorage IntroductoryIntroductory GuideGuide Brought to You By: The Self Storage Difference What is Self Storage? Unit rental on a month-to-month basis Tenant has sole access to unit Tenant uses his own lock No bailment by facility: Facility does not provide care, custody or control of renter’s goods Self Storage is not for use as: A residence A place for conducting business A place to store hazmats or perishables Self Storage Development History A typical storage facility: On 2.5 to 5 acres 5 to 7 one-story drive up buildings Possibly two-story buildings Good unit size mix of 40,000 – 80,000 sq. ft. of rentable space Average facility is 46,000 s/f rentable space Large roll-up doors Many offer climate controlled units Outside parking for boats, RVs and other motor vehicles Self Storage Development History 1st Generation Facilities - mid 1960’s: North America and later to Europe, Australia 2nd Generation Facilities: Row buildings Some multi story facilities Converted older buildings 3rd Generation Facilities : Retail locations, light commercial Multi family residential neighborhoods Emphasize aesthetics in construction Designed to blend-in Growth Patterns Initially: Western US & Sunbelt due to job growth & climate there 1978 one of the greatest growth years in the industry. Mid 80's increased construction on East Coast of US, and in Canada, Europe, Australia Early 90’s – economically foreclosed facilities purchased by local & national operators. 2008 -Over 50,000 self storage properties currently in operation in US; 60,000 worldwide Expanded to business tenants - 30% or more of the total tenants in some facilities are commercial accounts Real Estate Characteristics Typically: simplified building structures-short construction period- rapid initial rentals.
    [Show full text]
  • Self Storage Industry News | Keep Remotes Away from Toddlers During
    Self Storage Industry News | Keep Remotes Away From Toddlers During... http://www.extraspace.com/news/post/2010/06/04/Keep-Remotes-Away... HOME SELF STORAGE FAQs SELF STORAGE TIPS WHY EXTRA SPA Keep Remotes Away From Toddlers During Moving an By John Stevens Self Storage Industry News The biggest danger most people associate with moving is the likelihood of a strained back or Home reminding us that if young children are around, it is wise to be especially careful while packing contain lithium batteries. John Stevens's Bio See All Contributing Editors Lithium batteries, which look like buttons, are used to provide power for everything from televi John Stevens is an greeting cards. It is very important to keep electronic gadgets -- especially remote controls -- a outdoor enthusiast, who, entertain children while they pack or move, they must make sure that children are not left alon after many years ... remove the button battery from a television remote -- with disastrous or fatal consequences. [Read More] Teething babies and toddlers, who like to put everything they find into their mouths, and presc for candy, are most at risk. Parents and caregivers commonly believe that the biggest risk from choke. Button cell batteries are indeed a choking hazard, but they are also much more dange esophagus can conduct electricity, allowing an electric current to flow out of the battery, burni stays in the body, the more severe the damage is likely to be. Some children require feeding t battery. Category list “It’s like drain opener or lye....It’s not something you want in the esophagus of your child,” Dr.
    [Show full text]
  • MS360 Approved Locations and Surfaces
    Approved Locations: • Airline terminals, airports, bus stations, train stations, transportation terminals, public facilities, shipping terminals, travel rest areas, waysides, cruise ship terminals, subway stations, refueling facilities, truck stops, customs houses and facilities, • Automobiles, cars, trucks, campers, RV's, trailers, automotive garages, auto repair centers, bicycle shops, All Terrain Vehicles (ATV's), motorcycles • Boats, ships, barges, cruise lines, cruise ships, watercraft, cargo ships, personal watercraft jet-ski (PWC), yachts, pleasure & commercial fishing vessels, commercial fish processing ships • Boxcars, tankers, and tank trucks, • Buses, public transportation, trains, taxis, airplanes, helicopters, ferries, water taxis, shuttles, subway trains, hovercrafts • Delivery trucks, garbage trucks, maintenance vehicles, tractor trailer freight trucks, • Emergency vehicles, ambulances, police cars, fire trucks, critical care and (organ transport), mechanized law enforcement vehicles • EMS & fire facilities Police stations, crime scenes, courthouses, correctional facilities, municipal government buildings, prisons, jails, penitentiaries, correctional institutions, behavioral health facilities, fire houses, training facilities, barracks • Military barracks, tent cities, military transport vehicles, troop carriers, mechanized infantry vehicles, armored vehicles, airplanes, helicopters, battleships, supply ships, hospital ships, submarines, tactical & interdiction watercraft, M.A.S.H. units. Command centers, administrative
    [Show full text]