Announcing the Sale of Stor-All Self Storage

Luke Sauls, of Sauls Storage Group, is pleased to announce the sale of Stor-All Self Storage in Alachua, FL. The self-storage market continues to thrive as its property valuations soar. Self- storage is one of only a few industries remaining constant in the current uncertain economy.

Stor-All Self Storage, Alachua, is a 225 unit facility that includes both climate and non-climate storage, as well as boat and RV parking. With room to expand and high occupancy, this highly sought after facility is one of several recent purchases by an experienced, in state owner. “We have been very pleased to be able to offer our seller a smooth experience throughout the sales process, with this established buyer,” said Sauls. The facility will continue to be an unmanned property, managed remotely and allowing automated gate access to its renters. The new owners have plans for upgrades to the property and look forward to serving Alachua and the surrounding communities.

About Sauls Storage Group

Luke Sauls is a self-storage broker, and co-owner of Sauls Storage Group. He can be reached at 770-841-4591 or luke@saulsstoragegroup.com . Sauls jointly owns Sauls Storage Group with his mother, Jane H. Sauls, CCIM. After years of experience in the self-storage industry, the Sauls team is well equipped to serve storage owners and investors with their real estate needs. Sauls Storage Group, based in Carrollton, GA serves clients throughout the Southeast.

Generational Wealth Begins With Good Stewardship

Generational Wealth Begins With Good Stewardship

As Self-Storage Investment Brokers, we daily discuss in great detail the value of self-storage owners’ and investors’ facilities in today’s market, along with their high expectations of the returns on their investments. According to The Green Street Commercial Property Price Index®, “The all-property index increased 24% in 2021 with robust price appreciation occurring in virtually every corner of the commercial real estate market.  Self-storage was obviously an overachiever with a 66% increase in valuations.”  One definition of stewardship is the careful and responsible management of something entrusted to one’s care. This is the time of year when we reflect on the past 12 months and set goals for the next 12.  Stewardship includes our assets – both money and property, talent – yours and others’- and time.

As valuations of our asset class have boomed, what have you done to continue to improve your site?  Have you made the most of what you already have?  Or do you have the participation trophy mindset and are sitting on the entitlement couch? Let’s talk about practical areas that may need attention: interior items to consider are consolidation of personal units, unrentable units that need springs and latches replaced, and paint touch ups. Take a walk around the exterior of your property with fresh eyes to pick up trash, straighten up bollards, refurbish the doors and revisit your curb appeal.

Regarding financials, are you still chasing the same delinquent people each month? It may be time to have a serious conversation with customers who can’t afford your facility.  And what about expenses? Are you watching line items like it’s hard times or living relaxed and passive? Developing the habit of intently looking at each expense will be reflected in your valuations.

On to employees: our greatest asset. Instead of training them, then leaving them to keep the status quo, how are you instrumental in developing their talents to take them to the next level of excellence? When your employees are encouraged to take ownership, it will be reflected in your bottom line as the quality of work increases and turnover decreases. How are you stewarding the talent of each employee you are entrusted with to help them to fulfill their potential?

And finally, as leaders of the community, how are you pouring back into the world around you? Can the local schools and non-profit organizations count on your support? Do you volunteer your time to speak and serve? Do they see you as someone who is interested and invested in the local environment in which they live and work?

It is a great time to be in the storage business, but it is never a good time to be complacent. Good stewardship involves having a positive impact on each other in our daily walk. Life is more than real estate and valuations. Let’s be intentional about leaving people better than we found them.

Sauls Storage Group is here to help. We take our responsibility to help you invest all your assets seriously and are committed to growing by serving. You are more than a transaction to us – you are a relationship.

The Role Of a Self Storage Broker in Assisting the Seller

Selling a self storage property requires an abundance of industry knowledge and expertise. Even the most seasoned self storage owners are increasingly using self storage brokers. Successful brokers will help them present their properties to a wider audience and seamlessly manage the logistics of sales negotiations. 

If you’re getting ready to sell your self storage property, choose an established self storage broker. Not only does a professional broker have the key resources to ensure a smooth selling and closing process, but they are well versed in the strategies needed to get you the highest price for your property.

Why Should I Hire a Self Storage Broker?

Access to Qualified Buyers

A broker has relationships with the most qualified buyers in the industry. This extensive pool of buyers gives you a greater chance of obtaining the maximum potential selling price for your property. Working with an experienced broker provides you with more opportunities to display your property’s attributes to these buyers.

Evaluating and Pricing Your Property

Your broker will evaluate your property and give you a reliable assessment based on current market trends. You’ll be advised as to a step-by-step plan to improve your property making it more valuable and desirable to buyers. This will not only attract a larger audience of potential buyers but get you more money at closing.

Marketing Your Property

The marketing efforts of a knowledgeable self storage broker include a skillfully prepared Offering Memorandum (OM) detailing all features of a property, its competitors, the geographic area, demographics, and any other factors that might be important to a potential buyer. Online marketing that includes email campaigns and a presence on social media networks should be focused to reach a target audience. 

Protecting Your Best Interests

Without the assistance of a professional self storage broker, you will put your interests at risk. Selling a self storage property is a complicated transaction with many moving parts. A broker will be more skillful at handling seasoned buyers who are focused on buying your property as cheaply as possible. They know and understand the unexpected problems characteristic of the sale of a self storage facility.

Expert Mediation Skills

Negotiating to purchase a self storage facility is an art. Typically, a professional self storage broker is a pro at mediation skills. Throughout the selling process, an expert broker will stay informed on all possible legal matters relating to the transaction, including financial and banking components. This saves you the time to get what you need to complete the transaction. Without a doubt, a seasoned broker won’t leave the table until they have the best deal that they can get.

A Team of Experts

Quality brokers have a team of experts supporting their efforts. Their marketing department performs OM research and prepares presentations as well as overseeing social media, email campaigns, and a powerful online presence. Transaction and underwriting departments deal with the sizeable amount of work that needs to be done to complete a sales contract. Avoid using a broker in which only one person performs all of these tasks.

Brokerage Commission

Sellers usually find that the commissions they pay are more than worth it. Selling your property without a broker in an attempt to save on the commission can ultimately cost you more in a lack of market experience and connections that will get the maximum price for your facility.

Conclusion

Look at the following criteria when you’re in the process of choosing a broker that is the right fit for your needs.

  • Look for a reputable, experienced broker who is a self storage specialist with a history of desired outcomes.
  • Choose a broker who uses a team approach and a detailed process to ensure a successful transaction.
  • Find a broker with a track record of exceptional recommendations. Determine how many properties were sold in a given time and whether your broker works with active buyers.

Seasoned brokers have extensive industry knowledge and relationships, the ability to negotiate the maximum price for your property, and the problem-solving skills needed to achieve your desired outcome. If you want to maximize your selling price, look for a successful broker.