The 19^th Annual Self Storage Owners Summit

Held on July 18, 2024 at Balboa Bay Resort, Newport Beach, CA 

Has concluded. 

Look for next years event coming July 17th, 2025 

CICK HERE to see all 19th Annual Owners Summit Photos- Availiable for Viewing & Downloading 

Recap of the 19th Annual Self Storage Owners Summit

The 19th Annual Self Storage Owners Summit, hosted on July 18, 2024, at the stunning Balboa Bay Resort in Newport Beach, CA, brought together top-tier self-storage owners, investors, and industry professionals for a day of invaluable insights and networking. Co-hosted by the California Self Storage Association (CSSA) and Talonvest Capital, this event solidified its reputation as one of the premier gatherings in the self-storage industry.

   

The summit opened with a focused session on critical legislative issues affecting the sector. Key speakers emphasized the importance of staying proactive, especially regarding split roll taxation, rent control, and land use, which continue to challenge the industry.

Industry keynotes featured influential voices like Joseph D. Margolis, CEO of Extra Space Storage, and H. Michael Schwartz, Founder and CEO of SmartStop Self Storage REIT, Inc. Their presentations delved into the pressures of inflation and rising interest rates, stressing the need to balance customer rate increases to avoid attrition while ensuring investor returns.

    

A major discussion point was the rise in operating expenses, particularly in personnel, insurance, and maintenance. With costs expected to climb, leaders agreed that focusing on revenue growth, rather than merely cutting expenses, would yield better long-term results. This strategic focus on enhancing the top line is essential in the current economic climate.

The summit also highlighted the risks associated with development, especially the threat of oversupply in certain markets. Panelists emphasized careful market analysis and prudent risk management for new projects, particularly given the rising costs and approval delays.

Financing opportunities were another critical focus. The summit underscored the availability of funding from regional banks, life insurance companies, and insurance lenders. Acquisition opportunities have improved compared to 2023, particularly for assets priced below replacement costs, offering investors a chance to expand portfolios cost-effectively.

The day culminated in a panel discussion on investment trends, featuring industry veterans like Chip Brown of InSite Property Group and Rick Perdue of Rosewood Property Company. The panel provided a forward-looking perspective on the market, discussing potential Federal Reserve rate cuts and their impact on sales, acquisitions, and development.

   

Concluding with an evening networking reception, the 2024 summit offered attendees the chance to discuss the day's key takeaways and build valuable connections against the stunning Newport Beach backdrop.

      

In summary, the 19th Annual Self Storage Owners Summit delivered strategic insights and practical advice tailored to the evolving self-storage industry. Attendees left with a deeper understanding of the challenges and opportunities ahead, equipped with the knowledge to thrive in a complex, competitive market.

Summary Provided by Gabrial Luna | Trojan Storage 

A Big Thank You to Our Sponsors

We extend our heartfelt thanks to our generous sponsors, whose support made this event possible. The contributions of our all our sponsors were instrumental in the success of the summit.