Welcome self storage facility owners. Argus Real Estate, the leader in Self Storage purchases and sales, is pleased to present articles on self storage ownership, self storage sales, valuation of your self storage facility and other useful tips for self storage owners and prospected self storage owners.
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Market Monitor Articles
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Is Now the Time? July 2009
In our previous column, I described the economic terrain for those that presently own a storage facility in an effort to help owners be aware of the rocks in the landscape that appear in such lousy real estate markets. However, there is a different view of this market and that is of the potential buyer seeking to take advantage of the highest returns we've seen in years.
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Broker Roundtable: The North Central States June 2009
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An Open Letter: This is Different! May 2009
Mike McCune writes this letter to give you his absolutely unvarnished thoughts on today's real estate market and what he believes are an owner's options in this market.
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Broker Roundtable: The Southeast States April 2009
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Broker Roundtable: The Northeast States March 2009
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Predator, Prey or Unaware? Which One are You? February 2009
The economic environment of the last several months has been devastating not only to the stock market but also to the commercial real estate market. In fact, the problem is even more intensified in the real estate world because not only have prices dramatically fallen, but there are virtually no economically viable loans available to owners who want to refinance or for purchasers of properties.
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Is It Time to Take Some Chips off the Table? January 2009
In these difficult times, many self-storage owners are giving some thought to selling their property rather than waiting out the market. If you 'really are a seller' Mike McCune has outlined some important considerations to think about
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Are These Good Times? - Maybe, If You Are a Buyer! November 2008
Cap rates are up, prices are down, interest rates are just a little higher, competition is down and best of all, Cash on Cash returns - the Holy Grail of investing, are up!
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A Checkup You Can't Afford to Miss July 2008
No doubt you've heard that "an ounce of prevention is worth a pound of cure" and that "an apple a day keeps the doctor away." While these cliches strike a chord when thinking about our physical health, I propose that applying the same concepts to your business will help keep your storage facility running smoothly for years to come. In these uncertain economic times, a facility checkup is a crucial exercise to ensure a healthy future for your business.
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Broker Roundtable: Northeast States March 2008
The "credit crunch" is quite real and still has a long way to play out. While the
residential loans have been clobbered, the commercial loans appear to be holding up
well. However, a recession could negatively impact rents and occupancies. Given the
loose underwriting of many recent commercial loans there is certainly a possibility for
the infection to spread. Luckily, self storage has the lowest default rate of any real estate
class and most of the facilities we see are moderately leveraged.
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Just the Doldrums? Time to get your compass out! IV 2008
The doldrums are certainly present in today's real estate markets, including self storage. The winds are quiet. Sellers are hoping to get yesterday's prices and most of the very aggressive buyers of a year ago are long gone. The remaining buyers tend to be very experienced self storage owners and they are being very cautious.
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The Times Have Changed III 2008
The Big Picture
Yes, there is a new sheriff in town! It is now abundantly clear that the so-called sub-prime mortgage debacle may be just the tip of the iceberg of the problems in the modern finance markets. Easy to obtain, cheap credit is the great lubricant that makes the engines of commerce really hum. Unfortunately the "easy to obtain" and "cheap" characteristics are the part of the formula that ultimately cause the credit system to break down. Credit availability is largely a function of the lender's confidence that they will be paid back with reasonable interest. Unfortunately, there are fewer institutions, or individuals, that find they have enough confidence in borrowers to lend money without what would have been significantly excessive guarantees or collateral just six months ago.
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Sales Tax - A Double Demon January 2008
A few years ago, I commented on states like New Jersey and Connecticut attempting to enact a law that requires sales tax be charged on self storage rentals. I predicted that this might become a trend. Unfortunately, I was right. There are now several states - and the number is increasing - with sales tax being charged on self storage! With this trend now well established, I thought I would revisit the topic of sales taxes and renew my "call to arms" by the National and State Self Storage Associations to fight the sales tax issue. If you think you know all about the harm sales tax creates, take a look at the last paragraph and see what you think about the consequence.
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Inside Self Storage - January 2008 by Michael L. McCune
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Self Storage Real Estate - A View From My Perch I 2008
The first month of 2008 has been beset by significant financial and political "rock and roll." If you are like me, much of it doesn't seem to fit into a neat package that helps to clarify what the rest of the year will bring. However, if you will indulge me, I will give you two thoughts on the self storage real estate market that will hopefully provide some perspective for you to consider.
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Investor Demand - Desire to Acquire and Ability to Pay IX 2007
Tenant Demand and Investor Demand are both changing for the first time in the history of the self-storage industry thanks to the level of supply of space and the recent softening in operating performance. The level of supply of space, particularly for Class B and C facilities, means tenants have more choices as to where to store their goods, as well as the type of facility they chose to store them in. Changes in investor demand reflects the more recent softening in operating performances and the changes in the capital markets that impacts the leveraged investor's ability to pay.
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Using Multiple Channels to Maximize Web Exposure May 2007
In today's competitive business environment, maximizing your advertising and marketing budget is an absolute necessity. With Internet penetration at 70% and climbing, the Web is increasingly becoming the advertising vehicle of choice for savvy marketers. This shows in online advertising spending which has doubled from $6 Billion in 2003 to over $13 Billion in 2006. But, the Web is diffused medium, and experienced marketers are finding that a website alone does not help build your business or fill your facility. The key to successful marketing on the Internet is to first have your message available to many Internet users, and second, to give them multiple opportunities to convert and become a customer.
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Cap Rates and Sales Prices November 2003
In the business of buying and selling self storage facilities around the country, the discussion with both buyers and seller always ends with cap rates. Unfortunately, most people don't understand all of the ramifications of this simple sounding number.
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