While many in the self-storage industry would be thrilled to have a repeat of 2021, a new year has dawned. The year 2022 holds plenty of promise, even if it doesn’t quite reach the record-breaking heights of the last 12 months. But who knows? 2022 could be a record breaker for you!
To bring you some timely inspiration, The Storage Beat checked in with several industry members to find out about their goals and aspirations for the new year, as well as their industry wish for 2022.
Their written responses are collected below:
Jonathan Vollinger, director of storage acquisitions, HPI Real Estate
Personal resolution:
In 2022 we aim to close another $100+ million in acquisitions and break ground on six to eight new developments. If there’s any time left after that, I’d like to work on my golf game.
Industry wish:
I think we’re all hoping 2022 looks more like 2021 than 2019 – I think it’ll be somewhere in the middle, and that would be a fine outcome.
Nitesh Sapra, managing principal, NitNeil Partners
Personal resolution:
Evolve my role within NitNeil Partners in order to allow others to grow. Step off the field onto the sidelines and become a coach to allow for others in the company to independently run the plays.
Industry wish:
Amazon to take an interest in self storage for their last mile logistics operations. It could be good for everyone.
Marc A. Boorstein, principal, MJ Partners Real Estate Services
Personal resolution:
A.) Listen more. Talk less. B.) Worker harder on new technical skills and be careful with digital communications. C.) Think even more about others including friends/family, associates, clients and less fortunate. Be kind. D.) Allow personal margins, try not to overcommit. Avoid negativity. E.) Think long term.
Industry wish:
A.) The adoption of cryptocurrency for leasing and payment transactions. B.) Wishing for the industry’s continuing efforts to help reduce carbon footprints through various energy-efficient initiatives including greater adoption of installation of solar panels, LED lights, etc.
Theresa Gallas, sales manager at Janus International and chairwoman of SSA’s Women’s Council
Personal resolution:
I’m a list maker but I tend to overload my daily to-dos – I am working towards more manageable task lists and if it takes just a few seconds, knocking it out at that moment instead of scheduling for later. This applies to the chores around my household as well.
Industry wish:
The industry and its (our) people have had to grow, evolve and adjust so much in the last few years; my wish is that we continue to share best practices and work towards bettering one another and our businesses in pursuit of a healthy, robust industry as it has been. Put differently, we have a foundation of sharing what works and does not work and in this ever-changing landscape, knowledge is power.
Cory Sylvester, principal, Radius + and DXD Capital
Personal resolution:
The idea of a New Year’s resolution isn’t something I’ve taken to, as they tend to be fleeting. I focus on daily discipline which keeps you on the right path.
Industry wish:
The storage industry has been handed a gift with the surge in demand from COVID. My wish is that developers are smart with where they decide to develop, and to thoroughly investigate the new supply being built in their trade area before moving forward with a new project.
Jonathan Cutler, COO, Storage Acquisition Group
Personal resolution:
My focus is to surround myself with the right people, no matter their role within self storage— those who work hard and are motivated, and have a long-term vision for the industry.
Industry wish:
It’s similar to my first answer. That our industry leaders look at the industry as a whole, and focus on the longevity and growth of self-storage for all consumers, developers, owners and investors.
Ryan Clark, director of investment sales, SkyView Advisors
Personal resolution:
Over the last three months, I have celebrated my children’s fourth, seventh and 13th birthdays. I am not quite sure how they have grown up so fast. My resolution for 2022 is to ensure that I attend every school and sporting event they each have, as well as plan several short vacations so we can break our busy routines and get away together.
Industry wish:
I wish for industry operating fundamentals to continue to outperform all other asset classes, and another exceptional year for occupancy and rate growth.
Drew Dolan, principal and fund manager, DXD Capital
Personal resolution:
My business and personal goals for 2022 are the same: to continue to surround myself with people that have the right attitude, enthusiasm and shared common values. The right attitude goes so far in anything you do in life. Enthusiasm is infectious; we all want to live and work in an environment where we thrive off one another’s positivity and creativity.
Industry wish:
Regarding goals for the industry, I hope that we all continue to evolve in how we serve our customers. Through technology and innovation, the self-storage industry will continue to provide customers with new and more convenient ways to use their storage units. Whether it is improving the speed and ease to lease a unit, technology for access, or providing business services to expand the functionality of self-storage, I hope we all continue to challenge ourselves to make our industry better for our customers.
Drew Hoeven, chairman of the board and chief investment officer, Westport Properties
Personal resolution:
My personal New Year’s resolutions are to eat healthier (I know, pretty boring) and lose 10 pounds. I also intend to take overnight trips separately with all three of my children to have more intentional one-on-one time with each one of them. As for business, I look forward to getting back out on the road to visit our existing facilities and managers.
Industry wish:
I hope for the industry to adopt smarter development and underwriting standards. We all looked like heroes this past year, but need to remind ourselves that good times don’t last forever.
Adam Deermount, managing principal, RanchHarbor and Scott Ramser, managing general partner, Ramser Development Company
Personal resolution:
After acquiring in 2021 “Adult Toy Storage,” the largest RV and boat storage rental facility in the U.S., we are seeking more investment opportunities (ideally, assets with “meme-able” names) with equity requirements from $2MM to $15MM so we can continue to expand our footprint across the U.S.
Industry wish:
As demand for more self-storage continues to expand across the U.S., we’d like to see disciplined transactional underwriting so that the market does not become overheated and overbuilt.
Chuck Gordon, cofounder and CEO, Storable
Personal resolution:
Dream big and eat healthy.
Industry wish:
I’d say lean into the spirit of partnership. we’re all working in an incredible industry and when we work together, we can do great things.
Originally published on SpareFoot.com
