MESSENGER NEWS
Hurstwood is also in negotiations to convert the upper floors of the build- ing, known as Bryan House, into 45 one-bedroom apartments. Hurstwood has additional self-storage sites already identified in Lancaster, North Shields, and Dumfries.
New Storage Development Platform Formed Century City-based LaTerra Development has created a self-storage development platform through a joint venture with funds managed by Sydney-based Macquarie Asset Management. It has plans to deploy as
Charts and Tables Courtesy of NKF Capital Markets 07/29/21
Storage REITs (Total) PSA
CUBE EXR LSI
NSA DJIA
S&P 500 NASDAQ GOLD OIL
U.S. 10 YEAR 10 YEAR SWAP
$706.47 311.81 49.33
173.74 117.29 54.30
Market Index 01/03/22 $853.13 365.28 54.82 219.23 146.46 67.34
35,084.53 4,419.15
14,778.26 1,831.20 73.62 1.28% 1.30%
36,585.06 4,796.56 15,832.80 1,799.40 76.08 1.63% 1.56%
07/29/22 $742.53 326.41 45.87
189.52 125.89 54.84
32,845.13 4,130.29 12,390.69 1,762.90 98.62 2.67% 2.73%
YTD Change¹ -12.96% -10.64% -16.33% -13.55% -14.04% -18.56% -10.22% -13.89% -21.74% -2.03% 29.63% 63.80% 75.00%
¹ Excludes dividends Sources: Yahoo! Finance, U.S. Dept of the Treasury, U.S. EIA, Barchart (SWAADY10.RT), Bloomberg, World Gold Council
much as $300 million on self-storage developments. LaTerra has already started three projects in the Los Angeles area and is looking at other sites. The projects underway are a 55,000-square-foot facility in Mar Vista, a 63,000-square-foot space in Van Nuys, and a 77,000-square-foot facility in the North Hollywood/ Burbank area. John Wilson has been hired as the vice president of asset management for LaTerra; he was previously at Storage West for 12 years and Public Stor- age for 13 years.
Stocks
TTM Change¹ 5.10% 4.68% -7.01% 9.08% 7.33% 0.99% -6.38% -6.54% -16.16% -3.73% 33.96%
108.59% 110.00%
U-Haul To Open New Facility U-Haul recently purchased nearly five acres in Cart- ersville, Ga., to build a new facility. U-Haul Moving & Storage of Cartersville is scheduled for completion in May 2024. It will feature a multistory building encom- passing more than 90,000 square feet and include at least 700 indoor ADA-accessible units. Plans also call for a separate warehouse for U-Box® portable storage containers.
Life Storage Chooses OpenTech For Upgrades Life Storage has selected OpenTech Alliance as a solu- tions provider to upgrade access control technology at 150 of its facilities across the U.S. OpenTech was award- ed the contract to install INSOMNIAC® CIA in May 2022. Life Storage had previously installed CIA access control at 68 facilities across nine states within its portfolio.
SmartStop Acquires Facility SmartStop Self Storage REIT, Inc., has acquired a 55,707-square-foot facility in Aurora, Colo., a suburb of Denver. The facility, which was built in 2018, features one single-story and one three-story building; it has a mix of drive-up and interior climate-controlled units. This represents SmartStop’s 171st owned or managed operating facility in North America.
NSA Acquires Two Facilities National Storage Affiliates Trust (NSA) has acquired two Moove In Self Storage facilities
in Forks Town-
ship, Pa., for $14.7 million. As of March, the REIT held ownership interests in 1,061 self-storage properties in 42 states and Puerto Rico, totaling 68.4 million rentable square feet.
Pivot Energy Partners With Life Storage Pivot Energy and Life Storage have formed a part- nership to complete a series of 21 solar projects located across multiple states. The projects will expand Life Storage’s solar repertoire on the East Coast and
28 September 2022 •
MiniStorageMessenger.com
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