European Self Storage Operator Shurgard Hits 250-Store Milestone

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust Public Storage Inc., has reached its 250th location with the opening a facility in Argenteuil, a commune in the northwest suburbs of Paris. The eight-story building comprises 75,347 square feet in more than 1,100 units, according to a press release. We are thrilled to have opened our 250th property in Europe, especially in the Paris region, which is key to our expansion plan.” Shurgard has been ramping up its European expansion through acquisitions and development since…

StorageMart Acquires Two New Facilities in the UK

With the recent acquisition of two former CityStore properties in Aylesbury in Buckinghamshire and Dunstable in Bedfordshire, StorageMart extends its influence in the competitive UK market. These locations fit very nicely into our existing portfolio of assets and our Greater London strategy. We have had a banner year for performance of our existing UK portfolio, and expansion of our UK footprint makes a lot of sense for us at this time as a result.” The new UK locations are two of many in a series of acquisitions, joining recent US closings in Indiana, Iowa, and Maryland. With more acquisitions either planned…

Tulfra Real Estate Acquires Land in Jersey City for 2,422-Unit Self-Storage Project

Locally based developer Tulfra Real Estate has acquired land in Jersey City for the construction of a 2,422-unit self storage project. The facility will be located at 300 Thomas McGovern Drive and will have a gross square footage of approximately 261,000 square feet, including an adjoining parking structure will also be constructed as part of the project. Thomas Walsh of Walker & Dunlop brokered the land deal. A groundbreaking date will be announced in the coming days. According to Tulfra, there are approximately 159,000 housing units and 22,500 new apartments…

Stor-Age Shouldn’t Be Ignored

Since listing in late 2015, self storage property specialist Stor-Age has hardly put a foot wrong. Without stretching its balance sheet, it has built sturdy growth legs in SA and the UK. Like financial services specialist Transaction Capital (which listed three years earlier), it came to market with a fresh and innovative offering. But while transaction capital has been riding high, the market has still not properly grasped the longer-term growth and value proposition at Stor-Age. The share, in fact, trades roughly at NAV. Some punters may see this as…

How Safe Are Your Access Control Solutions? Part One

Safety and security are hallmarks of today’s self storage industry. In competitive markets, solutions that protect tenants’ physical safety and the security of their possessions are differentiating factors — they separate market leaders from the rest of the pack. Increasingly, the quality of your operation’s safety and security solutions directly impacts tenant acquisition and retention. Yet it may be tempting for owners and operators to inadequately evaluate their choice in security solutions — a mistake that can have serious consequences for the bottom line of your business. If a single…

Glasgow

Using the Market Discovery Data Tool from StorTrack’s MarketView Platform (MVP), we were able to view market data for Glasgow, the most populous city in Scotland and the fourth-most populous city in the UK. Despite strong population metrics, the city has only 1.07 square feet of storage per capita, nearly 70% less than the national average of 1.58. To view additional metrics and learn if this area presents a viable investment opportunity, visit the link labeled “Click Here to View Market Information“.

Construction Begins on Industrial Business Park

Work has now started on a 30,000 sq ft industrial and warehouse business park in Monks Cross, York. The MX Park features 11 industrial units, ranging from 1,925 sq ft to 3,550 sq ft in size, which are available to lease on flexible terms. Experience has shown us these types of units appeal to a wide range of businesses due to their flexible nature and the ability to install mezzanine floors. Monks Cross has been one of the most successful out-of-town developments in North Yorkshire over the past 20 years,…

Market of the Month: Milton Keynes

Using the Market Discovery Data Tool from StorTrack’s MarketView Platform (MVP), we were able to find Milton Keynes, the largest town in Buckinghamshire, England. With 12 stores in the city and one known development in the pipeline, investors considering entering Milton Keynes should evaluate the market’s tolerance for new supply diligently. To view additional metrics, visit the link labeled “Click Here to View Market Information“.

Storage Vault of Scotland to Accept Bitcoin for Self Storage Payments

Storage Vault Ltd. is now accepting Bitcoin as a form of payment from customers. The cryptocurrency will be acceptable in CoVault, the company’s flexible-workspace division, according to a press release. Storage Vault accepting Bitcoin as a payment option because of its benefits and to offer more payment choices for tenants. Company officials believe cryptocurrency will become more common in future. We are the first self storage and workspace business in the U.K. to accept Bitcoin.” Bitcoin was invented in 2008. It is not controlled by a bank or administrator. Rather,…