Revenues and occupancy levels for self-storage facilities are currently growing by double digits. Supply is trailing behind demand and many real estate investors, small and large, are looking to acquire this asset type.
Successful acquisition and disposition of self-storage properties depends on the alignment of all interested parties. Although self-storage transactions are typically simpler than other asset types, they require a thorough purchase and sale agreement, due diligence, and a cost-efficient and timely close. A skilled, experienced attorney who will avoid potential issues and minimize contention offers tremendous value to the process, particularly for investors new to the market.
Whether representing the owner-operator or tenant-operator, we draft agreements with property managers, service providers, and suppliers related to easements, shared parking, maintenance agreements, and other documents necessary for facility operation.
- Purchase and sale agreements
- Construction and development
- Site acquisition and due diligence
- Zoning and regulatory issues
- Startup funding and organizational matters
- Choice of entity
- Management agreements
- Lease agreements
- Operation covenants
- Parking agreements
- Operator rights
- Compliance with state legislation
- Lien sales
- Insurance issues
- Ancillary income advice
- SCRA compliance advice
- Premises liability advice
- Operator guidance on privacy and identity theft issues
- User and rental service agreements
- Indemnities, waivers, warranties, cost containment
- Financial, regulatory, risk, and tax management