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Marcus & Millichap Research Services has released its National Self-Storage Report for 2009 as well as Self-Storage Market Updates for the first half of 2010.
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SA Self Storage Investments (SASSI) and its management company, Stor-Age Self Storage, have launched a service for estate agents handling the letting of homes over the World Cup period to store valuable goods at a Stor-Age location, away from the attentions of tenants.
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Strategic Storage Trust Inc. recently purchased two out-of-state facilities through a $23 million all-cash transaction.
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Same-Store Occupancy Finishes Year 1.0% Higher Than 2008; Secures $63.0 Million in Debt Financing for the Quarter and $340.5 Million for the Year; Declares First Quarter 2010 Dividend of $0.10 per Share
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BUFFALO, N.Y., Feb 17, 2010 (BUSINESS WIRE) -- Sovran Self Storage, Inc. /quotes/comstock/13*!sss/quotes/nls/sss (SSS 31.71, -0.15, -0.47%) , a self-storage real estate investment trust (REIT), reported operating results for the quarter ended December 31, 2009.
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SAFESTORE HOLDINGS PLC RELEASE THEIR PRELIMINARY RESULTS FOR THE YEAR ENDED 31 OCTOBER 2009
- As at 31 October 2009, Safestore’s property portfolio was valued at £647.8 million, an increase of £9.1 million or 1.4% since October 2008
- Occupancy in Financial Year 2009 (“FY2009”) grew by 57,000 sq ft versus a loss of 195,000 sq ft in Financial Year 2008 (“FY2008”)
- Average rental rate increased by 4.9% to £25.24 per square foot (“sq ft”) (FY2008: £24.06 per sq ft) Ancillary sales increased 4.8% to £11.5 million (FY2008: £10.9 million)
- Five new stores opened bring the total number of stores to 117 in UK and Paris
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Utah-based Extra Space Storage Inc. said it has completed creation of a joint venture with an affiliate of Harrison Street Real Estate Capital of Chicago.
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Why is it that a company like SA Self Storage Investments (SASSI) is able, even in these tough times, to expand at a rate of 100% per annum?
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Like all real estate-centric business markets, the U.K. self-storage sector has felt the impact of the global recession and the significant retrenchment of the housing market. However, the industry has shown positive signs and exhibits strong economic fundamentals. Indeed, it’s possible that self-storage in the United Kingdom will emerge stronger from the slump, with most operators seeking to expand.
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The industry of self-storage is still fairly new in Britain, but growing -- from just a handful of units in the early 1980s to 750 plus now, according to the U.K. Self Storage Association. And it's big enough to have three companies -- albeit small-caps -- listed on the stock market here: Safestore Holdings /quotes/comstock/23s!e:safe (UK:SAFE 138.00, -6.25, -4.36%) , Big Yellow Group /quotes/comstock/23s!e:byg (UK:BYG 373.90, +1.70, +0.46%) and Lok'nStore Group /quotes/comstock/23s!e:lok (UK:LOK 79.00, +1.50, +1.94%) .
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