• Craig, CO, $725,000, 22,000 RSF.  Contact Broker Affiliate, Joan Lucas at 720-855-6587.

• Rockford, IL, $650,000, 25,600+ RSF.  Contact Broker Affiliate, Bruce Bahrmasel at 847-676-1100.

• S. Chicago Heights, IL, $1,600,000, 49,600 RSF. Contact Broker Affiliate, Bruce Bahrmasel at 847-676-1100.

• Michigan City, IN, $950,000, 35,310 RSF.  Contact Broker Affiliate, Bruce Bahrmasel at 847-676-1100.

• Emporia, KS, $800,000, 29,060 RSF.  Contact Broker Affiliate, Larry Goldman at 816-931-3101.

• Boston, MA, $1,750,000, 20,282 RSF.  Contact Broker Affiliate, Joe Mendola at 603-668-7000.

• Lee's Summit, MO, $1,850,000, 31,800 RSF.  Contact Broker Affiliate, Larry Goldman at 816-931-3101.

• Hickory, NC, $385,000, 21,240 RSF.  Contact Broker Affiliate, Dale C. Eisenman at 843-342-7650.

• Little River, SC, $1,925,000, 41,200 RSF.  Contact Broker Affiliate, Dale C. Eisenman at 843-342-7650.

• Mt. Pleasant, TX, $535,000, 16,110 RSF.  Contact Broker Affiliates, Richard Minker or Tyler Trahant at 1-888-7-MINKER.

• Glade Hill, VA, $1,450,000, 36,650 RSF.  Contact Broker Affiliate, Kathleen O'Brien at 703-538-2382.

• Martinsville, VA, $2,750,000, 55,991 RSF.  Contact Broker Affiliates, Dale C. Eisenman at 843-342-7650 or Kathleen O'Brien at 703-538-2382.

• Kelso, WA, $200,000, 4,853 RSF.  Contact Broker Affiliate, Richard Arnold at 503-203-1911.

• Milwaukee, WI, $850,000, Development Site.  Contact Broker Affiliate, Peter Hitler at 262-236-0612.

• Argus is pleased to welcome new Broker Affiliate Rod Harbaugh of Lee & Associates in Las Vegas, NV.  Rod represents the ASSSN in the state of Nevada.  Welcome aboard, Rod!

• Did you say taxes?  Yes, it's that time of year again.  Check out the March issue of the Market Monitor for some great information on property taxes and valuation.  To see this article as well as past issues, visit our website.
  
  Are you going to the SSA Conference and Tradeshow in Orlando?  Bring your March 2003 Market Monitor to the Argus booth #404 for a special show offer!
  
  The next issue will be April 2003 -- and you don't want to miss this one!  Not a current subscriber?  Subscribe today!
  

• Sovran releases fourth quarter and year end financials.  Net operating income was $17.5 million in the fourth quarter, up 10.8% over the previous quarter. Overall occupancy was 84% and average rent per square foot for the portfolio was $8.61.  Same store NOI growth for the year was essentially flat due to increased operating costs.  Full Article
   

• According to an article in USA Today, "In America, you are what you keep."  It estimates that as many as one-fifth of Americans have things in storage.  However, some industry experts say this business is taking its first significant hit ever.  Full Article
   

• Public Storage will release Q4 2002 results on March 13th.  A conference call is scheduled for Friday, March 14, 2003, at 9:00 a.m. (PST).  See company Press Release for call details and replay instructions. 
   

• The state of Connecticut has recently enacted a sales tax on self storage facility rents as part of its 2002 budget bill. The sales tax applies only to self storage and specifically excludes other real property classes. Pennsylvania is the only other state to enact a self storage specific sales tax.  Check out the recent Market Monitor article on Sales Tax for more information.

   

Neal Gussis of Beacon Realty Capital tells us that 60-day loan delinquencies are the lowest in the real estate business for self storage properties.  This is approximately one half the rate of office, one quarter of industrial, and 10 times lower than that of hotels. 

It is also interesting to note that, according to Bear Stearns, 95% of the conduit loans written over the last 10 years are above today's rates, some by significant margins.

The Space Place Storage Center
Mt. Pleasant, TX

• 125 units, 34 climate controlled

• 16,110 RSF facility on 2.9 acres

• High occupancy

• 24-hour gate access

Located just a quarter mile north of I-30, this facility has plenty of vacant land available for future development.

For more detail, view the listing.  For the full property presentation, call Argus Broker Affiliates Richard Minker or Tyler Trahant at 888-7-MINKER.

• SSA Tradeshow, Orlando, April 1-4, 2003.  Visit the website:  http://www.selfstorage.org/. 
  
  Come by the Argus booth #404 to see all of our "for sale" properties and talk with an Argus broker.  Don't forget to bring your issue of the March 2003 Market Monitor!

Enjoy all the benefits of a 500+ store global storage network without sacrificing one bit of your independence! Shurgard Preferred Partners^sm allows independent self storage operators the opportunity to increase revenues and decrease expenses by adding Shurgard's marketing and management tools to their resources.  Program details include Shurgard's own 24/7 sales and service center, exposure/rentals/online payments through the Shurgard Global website, national commercial accounts business, group buying discounts, business consulting, training, mystery shopper quality control service, and many other benefits. Contact Jeffrey Lindstrom at 1-800-873-8594 or visit their website.

Virginia Tag Service would like to be your source for engraved plastic door numbers, mini storage numbers and signs.  We specialize in providing engraved plastic door numbers for the mini storage industry.  Our 1/16 inch thick plate will resist peeling, fading, and rusting in most environments.  Engraved plastic is far superior to vinyl stick-on numbers in both longevity and legibility. Plastic numbers and signs can be easily installed on a large variety of surfaces using the silicone rubber adhesive which we provide. Our long-lasting product can make a striking difference in the look of your building at a reasonable price. Please visit your new website at www.engravedplastics.com and request a sample.