March 2004

  • Acworth, GA:  $1,750,000; 42,250 RSF.  Contact Broker Affiliate Dale C. Eisenman at 843-342-7650.

  • Belvidere, IL: $875,000; 19,900 RSF.  Contact Broker Affiliate Bruce Bahrmasel at 312-518-3550.

  • Manhattan, IL: $1,400,000; 132,000 RSF.  Contact Broker Affiliate Bruce Bahrmasel at 312-518-3550.

  • Egg Harbor Township, NJ:  $1,600,000; 15,000 RSF.  Contact Broker Affiliate Linda Cinelli at 908-303-8661.

  • North Reading, MA: $1,595,000; Development Site.  Contact Broker Affiliate Joe Mendola at 603-668-7000.

  • Salem, MA: $2,750,000; 23,843 RSF.  Contact Broker Affiliate Joe Mendola at 603-668-7000.

  • Fremont, NH: $950,000; 30,001 RSF.  Contact Broker Affiliate Joe Mendola at 603-668-7000.

  • Moriarty, NM: $400,000; 9,600 RSF.  Contact Broker Affiliate Dave Laney at 505-855-7600.

  • Scranton, PA: $1,600,000; 31,650 RSF.  Contact Broker Affiliate Chuck Shields at 610-862-1645.

  • Greenville, SC: $1,350,000; 47,625 RSF.  Contact Broker Affiliate Dale C. Eisenman at 843-342-7650.

  • Lake Geneva, WI:  $875,000; 31,904 RSF.  Contact Broker Affiliate Peter Hitler at 262-236-0612.

Check out all of our Current Listings
 

d   In Memoriam  c

The Argus Self Storage Sales Network has experienced the loss of one of its Broker Affiliates.  Mike Hansell of Lee & Associates - Las Vegas passed away on March 10th.  A memorial service and funeral were held in Las Vegas.  We would like to express our heartfelt sympathies for his family, friends and colleagues.  Mike will be greatly missed by all.  Cards and donations are being accepted.  Please go to www.leelasvegas.com for details.

_____________________________

Argus is pleased to welcome its newest Broker Affiliate, The Largent Team of Coldwell Banker Commercial / C&C Properties in Redding, California!  Ron and Curt Largent will be represent the Argus Self Storage Sales Network in North Central California.  Contact The Largent Team at 530-221-9672 or visit their website a www.LargentTeam.com.

_____________________________

It's Tax Time... Again
 Need comparisons to recent sales or tax assessments in your area?  Ask your Argus Broker Affiliate for free, no obligation real estate comps.  This is also a great comparison for insurance purposes.  Locate your local Argus Broker Affiliate ... Find a Broker

_____________________________

If you're a self storage owner and not receiving your copy of the Market Monitor newsletter, please call us to verify your mailing address 
1-800-557-8673

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Subscribe today!


Self Storage Owners... Don't miss a great opportunity to put your facility in front of thousands of potential renters!

Advertise your facility with a 5-page webpage for one year for only $79!  That's just half price -- your Argus Broker will pay the other half of the annual subscription cost and we'll waive the set up fee.

For more information, call 1-888-414-7871
www.selfstorage.com


  • "Selling Self Storage Seminar" PhoneSmart director Tron Jordheim will be leading a one-day sales seminar at the Atlanta Hyatt Regency Hotel on Tuesday April 20, 2004.   For more info: www.sellingselfstorage.com or call 866-639-1715. 
     

  • SSA Spring Conference & Tradeshow, April 21-24, 2004 in Atlanta.  For more information or to register, visit the SSA website at www.selfstorage.org.
     

  • SSA Fall Conference & Tradeshow, September 8-11, 2004 in Las Vegas.  For more information or to register, visit the SSA website at www.selfstorage.org.
     

  • Inside Self Storage Expo, November 17-19, 2004 in Miami.  For more information or to register, visit the ISS website at www.insideselfstorage.com/expo.

  

Where are rates headed? While opinions vary, research recently conducted by both Morgan Stanley and Bank of America predicts that 5-year and 10-year U.S. Treasury yields will rise by approximately 1% by the end of the year. This roughly equates to a 4.00% 5-year yield and a 5.00% 10-year yield by year-end based upon where rates stood when the report was released.  Read the Full Story on the Buchanan Capital Storage website. 

For more information or assistance contact Eric Snyder, Buchanan Storage Capital, at 1-800-675-1902 or via e-mail at  eps@buchananstreet.com.

Congratulations to Argus
Broker Affiliates

Clifford Crowe
of Lee & Associates - Carlsbad
on the sale of

Xtra Storage
in San Clemente, CA!
~~~~~~~~~~~
Dale C. Eisenman
of Midcoast Properties, Inc.
on the sale of

Storage Inn
in Martinsville, VA!

Many thanks to Argus Broker Affiliate Kathleen O'Brien of Wexford/O'Brien Associates for assisting Dale on this transaction.
~~~~~~~~~~~
 The Argus Self Storage Sales Network
"America's Self Storage Brokers"
1-800-55-STORE
info@argus-realestate.com
 

  • Public Storage 2003 Growth Low But Closes Strong 4th Quarter.   Net income for the year ended December 31, 2003 was $336,653,000 compared to $318,738,000 for the same period in 2002, representing a small increase of only 5.6%.  However, the Company closed the fourth quarter with net income of $85,970,000 compared to $67,214,000 for the same period in 2002, a 27.9% increase. The Company attributes the increase to improved operations of Same Store self-storage facilities, gains on sales of real estate assets and a reduction in losses from discontinued operations and increased net income from newly developed self-storage facilities.  Full Press Release
     

  • Bill passed in Ohio to permit late fees.  The State of Ohio has passed a bill allowing owners of self-storage facilities to charge a “reasonable” late fee for each month an occupant does not pay rent.  The Ohio law, similar to the law in Missouri, is supported by the Self Storage Association in that it falls within these guidelines:

    •

  1. The law clearly defines late fees as an untimely payment of rent and distinguishes late fees from other recoverable collection costs and expenses.
     

  2. The law provides self storage operators with clear parameters for setting late fees that are deemed reasonable by the legislature. The SSA supports the Missouri approach. A "reasonable" late fee is the greater of $20.00 or 20% of the monthly rent.
     

  3. The law permits storage operators with higher internal costs to impose higher late fees.

For more information, visit the SSA website.


Convert Callers Into Renters!

A TelePro specializes in Mystery Shopping Services to the Self Storage Industry. Launched by Brad North, a nationally recognized speaker, feature writer and consultant to the industry, A TelePro was established to help you Maximize your “Phone Sales Presentation” performance and enable you to convert more “Callers into Renters.” The company offers many advantages including electronic access to shops, charts and graphs, competitive pricing, training materials and much more.

Contact A Telepro at 866-535-2513 or visit their website at www.atelepro.com.
 

Looking for a vendor?  
Check out www.selfstorage.com! 
Search for a vendor by location or category, solicit
proposals or request a bid on the Marketplace, post a question or discussion topic on the Forum.
     

Alert on Self Storage is published by the Argus Self Storage Sales Network.  Questions?  Comments?  Please contact Melanie Aaron at melanie@argus-realestate.com or call 1-800-55-STORE.

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