IDEO STORAGE DAILY UPDATE
March 4, 2025
Self-storage isn’t just garages for rent. It’s a $40-billion industry in constant motion, where the right deal, the right tech, or the right strategy can make or break an operator. Investors are doubling down, developers are breaking ground, and tech is rewriting how tenants store their stuff. Today’s update covers major acquisitions, the latest facility openings, and strategies that are making waves in self-storage.
Let’s get to it.
📈 MARKET MOVES: MONEY, DEALS & EXPANSIONS
Westport Properties Expands With a California Portfolio Buy
Westport Properties, the name behind US Storage Centers, has snapped up two Class A self-storage facilities in Carson and Carlsbad, CA. Combined, the properties bring in 2,284 units and nearly 271,000 rentable square feet.
Why this matters:
- Occupancy was already 90%+, proving demand in these tight Southern California markets.
- The Carlsbad site benefits from a prime location in a high-income suburb with ongoing residential development.
- Limited storage supply in these areas makes this a fortress investment for Westport.
Newmark Brokers a 14-Property Recapitalization for Hines & CubeSmart
Hines and CubeSmart have recapitalized a 14-property self-storage portfolio in Dallas-Fort Worth, one of the fastest-growing metro areas in the U.S. The portfolio spans 9,700 units across 1.25 million rentable square feet.
Why this matters:
- DFW ranks third in U.S. cities for projected population growth, making it a self-storage hotspot.
- The transaction proves big money is still bullish on storage, despite whispers of demand softening.
- Newmark, the brokerage, calls this one of the largest national storage transactions of 2024.
Stone Oak Lease-Up Asset Sold in San Antonio, TX
A newly built 648-unit storage facility in Stone Oak, one of San Antonio’s most affluent neighborhoods, has changed hands. The property, featuring 68,127 rentable square feet, was designed to command premium rents, with two first-floor pricing levels.
Why this matters:
- The buyer gets a near-instant Class A trophy asset in an underserved, high-income area.
- Stone Oak’s 3-mile radius includes 82,227 residents with a $142,418 average income—prime storage customers.
- The facility boasts stone exteriors, premium office space, and high-end security.
Recent Self-Storage Transactions: January 28 – February 3
Notable deals from last week:
- Texas: Extra Space Storage sold a 9-property portfolio in Midland & Odessa (5,180 units) to AVAD Capital.
- Oregon: Spartan Storage acquired two Salem facilities (1,150 units).
- San Antonio: A self-storage + retail property in Escondido, CA, sold for $10.5M, with 97% storage occupancy.
🏗️ NEW DEVELOPMENTS & EXPANSIONS
Boardwalk Development Group Opens a New Facility in Canton, GA
A brand-new climate-controlled Extra Space Storage-managed facility has opened at 1547 Univeter Road, Canton, GA. Local officials and investors gathered for the ribbon-cutting.
Snapbox Self Storage Expands in Owings Mills, MD
Snapbox Self Storage (part of Go Store It) has opened a 79,710-square-foot storage facility in Maryland. The four-story facility includes 776 climate-controlled units and 24/7 surveillance.
Citizen Storage Adds Another Michigan Facility
The newly acquired facility in St. Helen, MI, will be rebranded under Citizen Storage and upgraded with RV/boat storage, digital gate access, and self-service kiosks.
💰 STRATEGY & REVENUE PLAYBOOK
Want Passive Income? Lease Out a Cell Tower
Self-storage operators are monetizing underused land by leasing space for cell towers. These agreements require no investment but can generate $1,500 – $3,500/month in rent.
Self-Storage Capex: Spend Smart or Lose Big
Storage is low-maintenance, not no-maintenance. Smart operators set aside reserve funds for capital expenditures. Roof replacements, security upgrades, and tech improvements aren’t optional.
🖥️ TECH & AUTOMATION
Forget Capex—What About TechEx?
Storage operators are still underinvesting in automation, AI, and digital security. The next wave of self-storage success won’t be built with concrete—it’ll be built with software.
Millennials & Gen Z Expect Digital-First Storage
Gen Z and Millennials won’t tolerate slow, outdated rental processes. The future is digital contracts, instant move-ins, and AI-powered pricing.
How Automation Is Driving Self-Storage Growth
Australian brand Swift Storage is fully automated. 60% of bookings happen without human interaction. No calls, no chatbots, just a seamless, purely digital rental experience.
🔦 PEOPLE & PLAYERS
Meet Two Brokers Running the Storage Deal Game
Larry Goldman has 36 years of experience, while Derek Arnold is a rising player since 2021. Both specialize in high-value storage deals.
That’s all for today. Stay ahead, stay aggressive, and stay in the game.
📩 Got intel? Send tips to hello@ideostorage.com.