Owners Only
This track is designed exclusively for the needs of self-storage owners, focusing on critical issues of employment, exit strategies and more.
Thursday, March 15
8-8:50 a.m.
Exit Strategies to Maximize Self-Storage Value
Speaker: Jim Stevens, Senior Vice President of Acquisitions and Strategic Partnerships, Extra Space Storage
Two important decisions in the lifecycle of self-storage ownership are when and in what fashion to exit the venture, as these decisions have a serious impact on the overall return of the project. A savvy investor is able to take advantage of certain exit strategies to maximize his payout. Some of these strategies include a 1031 exchange, a tenant-in-common structure, or a sale to a real estate investment trust (REIT) in exchange for operating-partnership units. This session explores popular self-storage exit strategies, the pros and cons, and the potential effect on property value.
You will learn:
- When might be a good time to sell
- Important considerations for evaluating a buyer
- A reasonable timetable for the sale transaction
- If you should sell for cash and other viable alternatives
- Creative options available to the seller (earnouts, 1031 exchange, etc.)
9-9:50 a.m.
Navigating the Self-Storage Transaction Market
Speaker: Ben Vestal, President, Argus Self Storage Sales Network
Recent turmoil in the nation’s investment markets may have many self-storage owners and investors concerned about the future. Fortunately, self-storage remains a stable and attractive commercial real estate investment. Buyers and sellers have a great opportunity to capitalize on the current unique market conditions, but it's important to have a plan in place. In this session, our speaker will walk through the transaction process and highlight the important steps required to maximize investment value. He'll also discuss the role played by capitalization and interest rates and how these factors can affect property value and transaction success.
You will learn:
- Where the market is today and where it may be going
- What creates value in today’s real estate market
- How to arrive at a realistic value for your property
- What to expect when buying or selling a property
- How to avoid the pitfalls that can derail a transaction
10-10:50 a.m.
Self-Storage State of the Industry 2012
Speakers: Charles Ray Wilson, Founder, Self Storage Data Services Inc., and Christian Sonne, Senior Marketing Director, Self Storage Industry Group, Cushman & Wakefield
Get an overview of current market conditions and trends for the U.S. self-storage market. Our presenters will talk about the latest trends in rental activity, including move-ins, move-outs, concessions and more, and dispel myths about self-storage performance based on operating statistics collected from more than 7,000 facilities. They'll also dive in to the investment market, addressing finance trends, capitalization rates and facility values. If you're a self-storage owner or investor, this is a session you don't want to miss.
You will learn:
- Current trends in self-storage occupancy rates and rental activity
- Common myths about self-storage performance
- Financing trends
- Statistics regarding cap rates and facility value
11-11:50 a.m.
Managing Self-Storage Employees: HR Perks and Pitfalls
Speaker: Carol Shipley, Vice President of Third-Party Management, CubeSmart
When it comes to employee management, the same human resources perks and pitfalls that exist in larger companies can also apply to smaller self-storage operations. In this session, our speaker will discuss the most common staff-related challenges facing storage businesses today as well as strategies to avoid employment dangers. Learn how to ensure smooth staffing at your facility and maximize team success.
You will learn:
- The kind of advertising that works today to find the right employees
- Why behavioral interviewing is necessary
- The areas of performance that should be covered in employee evaluations
- How to “manage the millenials”
- How to keep the keepers and lose the losers
- #ISSWORLD
