Editor’s Letter 4 Industry News 45 Managers In Action

Erica Shatzer –Editor Summer is quickly approaching, and your property managers are likely bracing themselves for your self-storage facilities’ busiest time of the year. After all, customers need storage now for home renovations, relocations, school breaks, and a multitude of other reasons. How can they better serve self-storage customers during this seasonal influx?

Technology is one answer that can provide numerous time-saving solutions, but there are some drawbacks that should be addressed before implementing new tech at your self-storage business. For that reason, this issue of SelfStorage Now!, offers insights about both sides of technology, starting with “Digital Daze” on page 11. “The ABCs Of Digital Marketing” provides tips for creating a long-term growth strategy. You’ll also want to read Scott Zucker’s article, “Crucial Provisions,” for legal advice about how to handle tenant disputes on social media. Our last technology-related column, “Long-Distance Leadership,” which begins on page 30, aims to help operators better manage their remote and/or hybrid workforces.

Although technology continues to be a timely topic, there are other approaches to business that can attract as many customers as high-tech features, such as community involvement and philanthropy. Therefore, two of our columns provide examples of the kinds of charitable giving that can polish your public image: “Supporting Servicepersons” and “Heartfelt Help With Easy Implementation.”

Whether you are fine-tuning operations or completely overhauling procedures to improve your customers’ storage experiences, I hope this informative issue of Self-Storage Now! helps guide you throughout your self-storage journey!

Warmest wishes for your continued success, Erica

Sentry Self Storage Management has announced operating results for the fourth quarter ending on Dec. 31, 2021. The company reported same-store revenue growth of 19 percent, and reduced operating expenses drove net operating income (NOI) to a 26 percent year-over-year same-store increase. Quarter over quarter, revenue grew by 6.5 percent, operating expenses increased by seven percent, and NOI increased by six percent. In addition, expansion is currently in progress at three properties in Florida: one in Boca Raton, another in Tampa, and a third in Orlando, with anticipated completion dates in 2022. Sentry is in the planning phases for three new stores as well.

Absolute Storage Management (Absolute) has announced its operating results for the three months and year ended Dec. 31, 2021. Compared to the same period in 2020, the company increased same-store revenue by 18.6 percent and reported same-store square foot occupancy of 93 percent. As for the year ended Dec. 31, 2021, Absolute increased same-store revenue by 14.9 percent compared to the same period in 2020. It also acquired 19 management contracts, achieved 18.1 percent same-store NOI for the year, and increased GPI by 33 percent.

The Hatcher Group of Marcus & Millichap is now The Hatcher Coe Group of Marcus & Millichap. The group was renamed to include Gabriel Coe, who has been an integral part of the firm for nearly eight years. According to Brett Hatcher, senior managing director investments in Marcus & Millichap’s Columbus office, Coe has been essential in the completion of more than 348 self-storage transactions totaling close to $2.1 billion. The team consists of 11 agents, including Coe’s brother, Nathan Coe.

Nuveen Real Estate, an American asset manager and subsidiary of financial-planning firm TIAA Investments that manages more than 2,000 real estate investments worldwide, with $138 billion of assets under management, has entered into a $300 million joint venture with My Place Self Storage. The partnership plans to acquire and operate self-storage properties nationwide. My Place was launched a year ago along with Frigatebird Investments by Kurt O’Brien, who has more than three decades of self-storage industry experience as an investor, developer, and operator. Larry Medvinsky, New York corporate partner, and Tushna Gamadia, real estate counsel for international law firm Morrison & Foerster, were advisors on the deal.

For the very first time, CAPCO has designed fiesta medals to sell. Proceeds from the Capco medals will benefit the Somerset Youth Livestock Organization (SYLO), a nonprofit organization that raises funds to support local 4-H and FFA youth in the area of Somerset, Texas. The company’s goal is to raise $1,500 for the Somerset Youth Livestock Organization. To donate and receive a Capco medal, visit https://bit.ly/ capcofiesta2022.

1-800-Self-Storage is collecting new and unopened goods at three facilities within metro Detroit to send to Ukraine. Items accepted for donation include shampoo and soap (travel size), toothpaste and toothbrushes, hairbrushes and combs, feminine hygiene products, first-aid kits, flashlights, batteries, camping headlamps, blankets (including baby blankets), towels, back-

Danny Thomas, regional manager packs, diapers in all sizes, baby wipes, baby bottles, for the local 1-800-Self-Storage. baby food and formula, diaper rash cream, pacifiers, com facilities, says donations are children’s over-the-counter medications and vitamins, coming in for the Ukraine relief efforts. Photo by Lania Rocha. adult over-the-counter medications, water purification filters and tablets, lightweight camping utensils and disposables, camping mattresses, sleeping bags, power banks/solar power, reflective emergency blankets, new empty water canisters in 10- to 20-liter capacities, and professional medical supplies. The team at 1-800-Self-Storage.com donated medical gear (including stretchers, surgical tables, a dental chair, tactical first-aid kits, and other medical equipment) to help outfit a field surgical hospital. 1-800-SelfStorage.com also partnered with the Ukrainian-American Crisis Response Committee, Razom, and SHARE Ukraine to identify needed items, arrange overseas transportation, and deliver the donations.

Talonvest Capital, Inc., is once again raising funds for the Orange County Ronald McDonald House (OCRMH), which provides a “home away from home” for families with seriously ill children who are receiving medical care at the local Children’s

Hospital. Talonvest has been actively involved with OCRMH for years through their Adopt-A-Room Sponsorship Program, by periodically serving meals to the families staying at the house, and by being the Top Corporate Fundraiser for the past seven years (2015 to 2021) at the Walk for Kids. In addition, Talonvest contributed $150,000 to the development of a second facility adjacent to the current location in Orange County, allowing OCRMH to double its impact on families in need. To make a donation, contact Savannah Baron at sbaron@talonvest.com.

The owner of mylockup.com in the North Yorkshire, U.K., cities of Knaresborough, Northallerton, and Thirsk will be sending relief to refugees in Poland. Toiletries, sanitary products, and non-perishable foods are being collected at all the mylockup. com branches. The company, along with up to 20 others, will help get the supplies to Ukranian refugees in Poland.

The California Self Storage Association will be hosting its third annual charity golf classic on May 16, 2022, at the Napa Valley Country Club in Napa, Calif. The golf classic, which will benefit Kure It, the non-profit organization that supports underfunded cancer research, commences at 10 a.m. with a shotgun start. Prizes will be awarded to winners of the various on-course contests. There will be a 19th Hole Reception following the tournament. Registration costs are $375 per person or $1,500 for foursomes. Visit www.californiaselfstorage.org/page-18213 to register.

Time & Again Theatre, a theater company that specializes in historical productions, has lost its entire collection of props, costumes, and stage equipment following a fire at Armadillo Self Storage in Cheadle, U.K., that required nearly 130 firefighters and several hours to extinguish. Greater Manchester Police is treating the incident as suspected arson and launched an investigation. The company had all of its belongings stored in a unit at the self-storage facility. Though nothing was salvageable, and many of the unique, antique, and handcrafted items cannot be replaced, nearly £3,000 (close to $4,000 USD) was raised in a week for Time & Again to purchase new period costumes, props, and equipment.

In Idaho, Gov. Brad Little vetoed legislation (SB 1301) that sought to amend the way property taxes are calculated for self-storage businesses. The bill would have subjected self-storage businesses to a different standard for property tax assessment than other commercial property types, mandating county assessors to use a cost approach only in calculating their taxable value. SB 1301 passed the Senate on a 22-12 vote on March 11, with opponents raising some of the same concerns Little raised in his veto message; that is short of the two-thirds margin required to override a veto. It passed the House March 17 on a 55-15 vote.

The Storage Group has hired Christina Powell as strategic sales consultant to spearhead several new sales initiatives over 2022 and beyond. Powell, a previous executive director of business development in third-party management and national sales associate in digital marketing, has more than 10 years of experience in self-storage. She also has more than 13 years of entrepreneurial experience managing her own largescale event photography company.

MakoRabco has selected John Cross as its new CEO. Cross has served the company as COO for the past two years. He will now lead the financial and operational functions of MakoRabco, headquartered in Carlsbad, Calif., along with its East Coast office in Winter Garden, Fla. In addition, Caesar Wright, who has served as the company’s CEO since 1997, has been named as its new executive chairman. Wright’s responsibilities will be focused on growth and promotion of the company through its sales and marketing teams.

OpenTech Alliance, managing stakeholder of StorageTreasures.com, reported significant cost-savings for operators that have leveraged the Unit Liquidation Program (ULP) on its online storage auction platform. The ULP program gives operators a cost-effective, efficient method to resolve auctions that don’t sell. With estimates for minimum standard disposal costs often at $350 or more, the 4,000-plus units cleared in the 10 months the program has been available equates to a reduction in operating costs related to storage unit cleanouts at over $1.4 million. Since the program launched in May 2021, the StorageTreasures e-commerce website reported that participating sellers resolved 58 percent of unsold online storage auctions on the same day of the original auction end date through

Greater Manchester Fire and Rescue Service put out a blaze at Armadillo Self Storage.

the ULP. In addition to the significant potential for cost-savings, the expediency and potential to earn new rental revenue are primary advantages for operators that use the service.

Storelocal, the storage co-op, recently announced the results of its annual election for the open seats on its board of directors. John Lindsey and Scott Ramser were elected to fill the two three-year terms. Lindsey is the pres-

John Lindsey Scott Ramser

ident of Lindsey Self Storage Group and one of the co-op’s early founders. Ramser, the managing general partner of Ramser Development Company and one of the co-op’s original board members, has served on the Storelocal board for more than eight years.

At the first day of the Arizona SelfStorage Association’s 22nd annual conference and trade show, during the Owners Summit at the WeKoPa Casino Resort in Ft. McDowell, Ariz., on Feb. 17, 2022, MiniCo Amy Amideo and Poppy Behrens. Publishing’s Poppy Behrens, publisher and AZSA conference and trade show chair, was honored with the association’s 22nd Achievement Award. Formerly known as the Pioneer Award, the Achievement Award is given to industry professionals who show leadership and execute successes that benefit AZSA members.

Storage Asset Management (SAM), recently announced its same-store results for the year ending Dec. 31, 2021. Over 2020, SAM increased same-store revenue by 18.3 percent and grew NOI by 26.6 percent. SAM manages 442 locations, including 105 unmanned locations, which encompass 26,736,537 square feet of storage and 181,131 units.

Storage Post Self Storage added a 92,470-square-foot property to its brand and business structure. The multistory facility is in lower Manhattan’s East Village. Storage Post Self Storage now acts as third-party management of the storage facility.

The 2022 Self Storage Hawaii unConference is scheduled for October 17 to 21 at the Waikoloa Marriott. Discounts on registration are available by contacting one of the event’s sponsors. A list of sponsors is available at hawaiiunconference.com/register-1.

Charity Storage, the official charity of the self-storage industry and charity partner of the Self Storage Association (SSA), recently announced significant charity auction results for 2021—its 10th year of giving. Through nearly 500 charity auctions, self-storage operators raised $111,671.04 for organizations across the nation.

Kure It, a non-profit that raises funds for kidney cancer research as well as rare cancers, has celebrated its 15-year anniversary. Since its inception in 2007 by the self-storage industry’s late Barry Hoeven, the charity has raised more than $12 million. A portion of every Charity Storage auction is donated to Kure It.

According to the Boston Police Department, an investigation is underway after 50 dirt bikes and ATVs were found inside a self-storage unit in Roslindale, Mass. The bikes were discovered by the Boston Police Auto Theft Unit and confiscated “as a result of a coordinated investigation involving the Seekonk Police Department.”

The Kyle, Texas, City Council recently passed an ordinance amendment that restricts self-storage development. To be approved, new projects must be at least two miles from an existing facility. According to city records, Kyle currently has six self-storage facilities; based on its population, it only needs 2.57 self-storage facilities.

UNITS Moving and Portable Storage has been ranked as No. 353 among the nation’s top franchises on Entrepreneur’s 2022 Franchise 500 list, earning a place for its outstanding performance in unit growth, financial strength and stability, and brand power. Entrepreneur’s editorial team researches and assesses several factors that go into the evaluation and each franchise is given a cumulative score based on an analysis of more than 150 data points; the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order. UNITS® Moving and

Portable Storage is a franchise that provides self-storage, on-site storage, and local and long-distance moves to clients across the country. Its nationwide network of storage and service centers reaches over 2,750 cities and continues to grow.

Darcy L. Knapp-Fricks of Mansfi eld, Texas, has been honored as a Woman of Distinction for the fi rst quarter of 2022 by P.O.W.E.R. (Professional Organization of Women of Excellence Recognized) for her outstanding contributions and great success in the fi elds of agriculture, real estate, investments, and self-storage. Knapp-Fricks is the president and co-owner of Knapp Sisters Rental, Ltd., a land rentals company she started with her sister in 1999. She has over 25 years of experience in the fi elds of real estate, investments, cattle production, ranching, and self-storage.

OpenTech Alliance, managing stakeholder of StorageTreasures, recently announced record auctions results for operators on the online storage auction platform in 2021. The platform saw signifi cant spikes in December, recording the most auctions ever hosted by storage operators (a total of 59,672 auctions) in the site’s 11-year history.

National Storage Affi liates Trust (NSA) has promoted Tiff any S. Kenyon to executive vice president and general counsel from senior vice president and senior legal offi cer. In addition, Melissa M. Cameron has been promoted to senior vice president of customer acquisitions from vice president of customer acquisitions.

To mark the one-year anniversary of New State Capital Partners’ and Mako Steel’s majority investment in Rabco Enterprises LLC, MakoRabco, which now off ers nationwide self-storage solutions, unveiled a new brand and website. The company’s logo evolved from displaying a shark to a fast-moving shark fi n and incorporates the blue from Rabco’s former branding as well as the companies’ combined name. And the company’s winning, quick style has been carried over into its new slogan, “The Edge You Need!”

Chicago-based Doorage Storage is buying Boston’s On Demand Storage as part of its plan to expand its pickup and delivery services across the Northeast. The fi ve-year-old company’s also launching new services in Las Vegas and Columbus, Ohio. Terms of the Doorage/On Demand deal were not disclosed. The transaction is expected to close in the second quarter of 2022. By the end of 2022, Doorage will be off ering local services in six markets: Chicago, Milwaukee, Madison, Boston, Las Vegas, and Columbus. Next year Doorage will focus on establishing services in the New York City area.

In an attempt to support Louisville, Colo.’s restoration eff orts, and help those impacted by the Marshall Fire, StorQuest is donating $1 from every rental at 28 Colorado facilities to support the Boulder County Community Foundation’s Wildfi re Fund. The Marshall Fire, which started on Dec. 30, destroyed over 1,000 structures, and 35,000 people were forced to evacuate from Boulder County, including the city of Louisville, where a StorQuest facility is located. StorQuest’s donation will assist in aligning resources, while the non-profi t foundation will work with government and nonprofi t partners to disperse the funds to support those impacted. The Wildfi re Fund is distributing $5 million in fi nancial assistance to those whose homes have been destroyed or damaged and an additional $500,000 to support the needs of the evacuees. By choosing Boulder County’s Community Foundation, StorQuest is committed to supporting the immediate needs of the community throughout this devastating crisis as restoration and rebuilding eff orts continue in Boulder County. To learn more about Boulder County’s Community Foundation Wildfi re Fund, visit www.commfound.org/grants/ getgrant/Boulder-County-Wildfi re-Fund.

Congratulations to MiniCo Publishing’s editor, Erica Shatzer, who has self- published a children’s book titled Hamlet the Unlucky Piglet, an endearing rhyming parable about a superstitious piglet who learns a valuable lesson in the city. The e-book is currently available for purchase on Amazon.

Darcy L. Knapp-Fricks

Starwood Real Estate Income Trust, Inc., a non-listed REIT managed by a subsidiary of Starwood Capital Group, and Morningstar Properties, LLC, recently forged a joint venture to own and operate high-quality stabilized assets in the self-storage sector. The joint venture includes the recapitalization of 25 assets owned by Morningstar, as well as a commitment of capital to continue acquiring assets in the sector under the Morningstar brand.

In October 2021, the Georgia Self Storage Association honored Woodruff Storage in Midland, Ga., with its annual Facility of the Year award. The three-story, 100,800-square-foot property, which was built by Woodruff Real Estate Services, LLC, opened ahead of schedule on May 17, 2021. It off ers 554 climate-controlled units, 24-hour electronic access, outdoor and indoor surveillance, and two elevators. The facility is managed by Absolute Storage Management.

Lock Stock Self Storage, a U.K. storage company, supplied the jerseys for one of the 22 teams that participated in a 500-mile charity cycle ride in February that raised funds for the My Name’5 Doddie Foundation, which provides funding for (L to R) Ruthin Rugby Club’s Dr. Matt Davies, Wyn Jones, Steve motor neurone disease

Morgan, and Rob Boyns, along with Lisa James of Lock Stock Self (MND) research. The Storage. Photo credit: Mandy Jones Photography 500-mile trip started at Edinburgh’s Murrayfi eld Stadium and fi nished at the Principality Stadium in Cardiff , just in time for the Wales vs. Scotland Doddie Weir Cup match in the Six Nations.

A pair of bills that would allow self-storage operators to advertise their lien sales online instead of in a local newspaper are being considered by Virginia lawmakers. The identical bills, House Bill 21 (HB 21) and Senate Bill 199 (SB 199), would give facility operators the option to advertise “on a publicly accessible website that conducts property sales.” The measures are supported by the Virginia Self Storage Association (VSSA) and the national Self Storage Association (SSA). The SSA’s encouraging self-storage operators to contact their state representatives in support of the bills. On Jan. 24, SB 199 was referred to the general laws and technology committee by the senate.

Raoul Mangrum Jr., owner of Detroit- based Biochem Technical Services LLC, is being sued by the state of Michigan for allegedly violating state waste disposal laws and public health codes. Mangrum, who was stockpiling medical waste from doctor’s offi ces, laboratories, and funeral homes in storage units instead of hauling them to a landfi ll or incinerator, said his actions were not malicious. The Michigan Department of Environment, Great Lakes and Energy (EGLE) wants a judge to order reimbursement of $53,000 in state cleanup and disposal costs and bar Mangrum from doing further business in medical waste collection and disposal. Mangrum allegedly stored medical waste at a Public Storage facility on West Eight Mile Road and a U-Haul facility on Eight Mile Road in Southfi eld, as well as frozen sea lampreys from a laboratory at the Detroit Cold Storage facility in Livonia.

In January, price-gouging restrictions on self-storage rental rates ended in several counties, including Butte, Mendocino, Sonoma, and Ventura. The restrictions, which were put in place through multiple states of emergency issued in response to

California wildfires, dated back to the 2017 to 2019. More recent restrictions were also lifted in Alpine, Lassen, Plumas, and Siskiyou Counties. Late-summer 2021 restrictions that applied in El Dorado, Nevada, and Placer Counties were in place until Jan. 29. According to price-gouging information posted by the California Governor’s Office of Emergency Services (Cal OES), 17 other California counties were expected to lift price restrictions that included self-storage rent.

MiniCo Insurance Agency is pleased to announce two leaders stepping into strategic leadership roles. Rick Krouner, formerly president of MiniCo’s casualty division, has been named president of MiniCo’s specialty programs division. Krouner’s significant experience in multiple lines, products, and agency underwriting operations makes him uniquely qualified to lead and support the specialty programs teams in their distribution, growth, and product-development strategies. Jim Henry, formerly chief underwriting officer of Aran Insurance Services Group, an affiliate company of MiniCo, is the new president of MiniCo’s national programs division. Henry brings his multi-line underwriting and carrier experience to his leadership of the national program teams in their distribution and growth activities at MiniCo.

Devon Self Storage has announced four promotions. Greg Mackay, who’s been with Devon for 28 years in various positions, has been named president - acquisitions and construction. After four years with the company, Shannon Dodge has been promoted to senior vice president - construction. Ronitris (Roni) Murry, who has been serving as assistant controller for the past nine years, has been named vice president - assistant controller. After four years as acquisition analyst, Mike Olson has been promoted to vice president – acquisitions. Chuck Gamm has been promoted to senior vice president – operations after serving as vice president – operations for three years.

Extra Space Storage CEO Joe Margolis officially joined the CEO Action for Diversity and Inclusion and took the CEO Pledge. CEO Action for Diversity and Inclusion is a group started by CEOs to rally the business community to advance diversity and inclusion in the workplace. The CEO Pledge outlines a specific set of actions a CEO will take to cultivate a trusting environment where all ideas are welcome and employees feel comfortable and empowered to have discussions about diversity and inclusion.

1. Make workplaces trusting places to have complex, and sometimes difficult, conversations about diversity and inclusion. 2. Implement and expand unconscious bias education. 3. Share best–and unsuccessful–practices with other companies. 4. Create and share strategic inclusion and diversity plans with boards of directors.

Marshann Varley has joined Public Storage (PS) as senior vice president of insurance. She most recently served as managing director and resident sales director at Aon. Varley replaces Capri Haga.

Jencap Group LLC (Jencap) recently announced that John LaCava has been named COO. He currently serves as president and CEO of Jencap Program Administrators (JPA), a division of Jencap. LaCava co-founded Aran Insurance Services Group, which is now part of JPA, and has more than 35 years of industry experience.

National Storage Affiliates Trust (NSA) has announced promotions within its senior leadership team. Tiffany S. Kenyon is now executive vice president and general counsel; she was previously senior vice president and senior legal officer. Melissa M. Cameron has been promoted to senior vice president of customer acquisitions; she had served as vice president of customer acquisitions.

Toy Storage Nation (TSN) has named Judy Blanchard as director of marketing. Blanchard brings nearly 20 years of marketing experience for the self-storage industry. She previously worked at Informa Exhibitions on the Inside Self-Storage industry tradeshow and family of digital brands. She holds a Bachelor of Science in business management and an MBA in marketing from Arizona State University.

Store Space Self Storage recently announced that Herby Bowman has joined the company as senior director, business development. His primary area of focus will be to grow the brand’s third-party partnerships and contribute to its acquisition portfolio. Prior to Store Space, Bowman was director of business development at Public Storage for 2.5 years.