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Speakers and Panels

Katharine Lau

Katharine Lau

CEO & Co-Founder

Stuf Storage

Charles Byerly

Charles Byerly

CEO

Westport Properties & US Storage Centers

Bill Leitner

Bill Leitner

Founder

Leitbox Storage Partners

Devin Beasley

Devin Beasley

Executive Director, Self-Storage Advisory Group

Cushman & Wakefield

Brian Cohen

Brian Cohen

President & CEO

Andover Properties & Storage King USA

Nathan McElmurry

Nathan McElmurry

MD, Head of Self Storage Acquisitions

InSite Property Group

Eric Fleps

Eric Fleps

Principal

ARCO/Murray

Erik Osterhus
Moderator

Erik Osterhus

CEO

Joule Capital Ventures

Heidi Henderson
Opening Remarks

Heidi Henderson

EVP

Engineered Tax Services

Katharine Lau

CEO & Co-Founder

Stuf Storage

Katharine Lau is CEO and Co-Founder of Stuf, one of Fast Company’s World’s Most Innovative Companies in 2022. She was named to Inc. Magazine’s Female Founders 100 list in the same year. Katharine is passionate about reinventing consumer experiences in the physical world and leads the company’s strategic vision and overall strategy in transforming the self-storage industry.

From 2015-2020, Katharine led supply growth at Industrious, the nation’s largest premium shared workplace provider. She built and managed a 20+ person team and oversaw the company’s rapid expansion while developing go-to-market strategies for new digital products and tenant experience services. As VP of Real Estate, Katharine pioneered an "industry first” asset and liability-light growth strategy leading to CBRE’s partial acquisition of Industrious in early 2021.

Prior to Industrious, Katharine worked at Equinox as Manager of Development, supporting the company’s national expansion of luxury fitness clubs. She previously worked at L&L Holding Company and PGIM Real Estate (Prudential).

Charles Byerly

CEO

Westport Properties & US Storage Centers

For the past ten years, Charles Byerly has been an executive with Westport Properties, Inc. and US Storage Centers, Inc. (together “USSC”). Mr. Byerly is President & CEO of USSC, a vertically integrated real estate investment company and owner/developer/operator of almost 6,000,000 square feet of income producing commercial real estate comprised of retail, office and primarily self storage space in twelve states with an estimated current market value of nearly $800 million. Mr. Byerly is heavily involved in all aspects of USSC including corporate strategy, risk, real estate, finance and operational oversight for the company. Mr. Byerly sits on the USSC Board and Advisory Board. Prior to joining USSC, Mr. Byerly was Assistant Treasurer and Director of Finance for the Americas for three years at Exult, a public company focused in Business Process Outsourcing. From 1994 to 2001, Mr. Byerly spent his time with the Ernst & Young Real Estate Group focusing on Public, Private and Non-Traded REITs, public and private homebuilders and other commercial real estate property types. Mr. Byerly earned his Accounting degree from California Polytechnic University, Pomona, his Master’s Degree in Business Taxation from the University of Southern California and he’s a licensed California Real Estate Broker. Mr. Byerly currently serves on two non-profit boards, as well as the Cubesmart Self Storage REIT Advisory Board and is very active in Kure It!, a kidney cancer 501(c)(3) charity and enjoys spending time with family and friends.

Bill Leitner

Founder

Leitbox Storage Partners

Bill Leitner, 55, is the founder of Leitbox Storage Partners, LLC. For the last fourteen years, Bill

Leitner has been the managing principal of Merchants Retail Partners, a uniquely positioned,

commercial real estate development, investment, and operating platform

(www.merchantsretail.com) owned by Management and Protective Life Insurance Corporation.

In 2016, Mr. Leitner formed Leitbox with the mission to re-envision self-storage investing by

utilizing core processes and practices forged in the retail development sector. Bill spent the

previous ten years with Colonial Properties Trust. As Executive Vice President of the Colonial

Properties Trust retail division, Bill had full accountability and responsibility for all retail

development activities for Colonial and developed and acquired more than 9 million square

feet of retail space (grocery-anchored, open air fashion, and big box centers) with a total cost of

more than $875M and approximately $1.3B exit valuation. These projects spanned from Texas

to Florida and up through the Mid Atlantic. After graduating from Washington & Lee

University and the University of Alabama School of Law, wherein Bill received a Master of Laws

in Taxation (L.L.M.), Bill worked in the Real Estate Capital Markets. He was Managing Director of AmSouth Bank’s Capital Markets Group and was Donaldson, Lufkin, and Jenrette’s top

mortgage banker in the Southeast in 1998. Prior to AmSouth, Bill worked in Washington, D.C.

for Riggs National Bank. Bill is the recipient of the ICSC’s CDP and CRX designations as someone ewho possesses in-depth experience and understanding of the development, design,

construction and operations of shopping centers and other retail-related facilities.

Devin Beasley

Executive Director, Self-Storage Advisory Group

Cushman & Wakefield

Devin Beasley is an Executive Director with Cushman & Wakefield’s Self-Storage Advisory Group. Specializing in the RV & Boat Storage/Self-Storage space, Devin has extensive experience partnering with both private and institutional clients in both an advisory and transactional capacity. His client-first approach enables the growth of long-lasting relationships while providing the best strategic short and long-term plan specific to each investor.

RECENT HIGHLIGHTS

Higley Development – Phoenix

Fairway Self Storage- California

American Storage- Hemet

American Storage – Reno

American Storage – Fairfield

Extra Space Storage- Las Vegas

Qualifications

4 Years of Self- Storage capital markets experience

Successfully brokered over $170 M in sales volume since 2017

MS in real estate, W.P. Carey School of Business

Brian Cohen

President & CEO

Andover Properties & Storage King USA

Mr. Cohen is the co-founder and President of Andover Properties, which currently owns and manages 159 self storage facilities in 18 states totaling over 12.9 million rentable square feet across 87,000 units and has led the firm since its founding in 2003. Mr. Cohen helps identify acquisition targets, develop the management plans for the properties, and coordinates the Sponsors’ investigation and analysis of the investment opportunity and due diligence. With offices in New York, Miami and San Francisco, Mr. Cohen is planning for future growth of the Storage King USA brand and Andover’s presence in adjacent asset classes such as RV Parks, Marinas, car washes, and Boat and RV Parking. Prior to founding Andover, Mr. Cohen worked for Tishman Speyer Properties. During his tenure, he held various positions within Tishman Speyer’s organization in their Acquisitions, Leasing and Global Asset Sales groups. Mr. Cohen graduated from the University of Pennsylvania with a bachelor’s degree and formerly served on the New Jersey Self Storage Association Board of Trustees as President.

Nathan McElmurry

MD, Head of Self Storage Acquisitions

InSite Property Group

As Managing Director, Nathan oversees all acquisitions for InSite Property Group and its SecureSpace Self Storage brand. He has completed over 200 storage property transactions in his career and is a board member of the California Self Storage Association. Previously, he was a Senior VP at SmartStop Self Storage and a Director at GE Capital. Nathan graduated from Texas A&M University's Dwight Look College of Engineering and earned an MBA from the University of Texas' McCombs School of Business, with a focus on real estate finance. His free time is spent with family, pursuing anything outdoors-oriented, so long as no pavement is involved.

Eric Fleps

Principal

ARCO/Murray

Eric Fleps is based in Dallas, Texas and leads ARCO/Murray’s national self storage business. Under Eric’s leadership, ARCO/Murray Self Storage has completed over 120 projects across the country (over 14 million square feet), bolstering ARCO’s ranking as the 3rd largest Design-Build firm in the country (ENR, 2023). Eric works alongside owners, developers, brokers, and the like to design and build projects that create an unmatched construction experience, while beating original underwriting. Eric is an active member of the Self Storage Association (SSA) and an alumnus of The University of Texas at Austin, where he graduated with a degree in Civil Engineering.

Erik Osterhus

Moderator

Joule Capital Ventures

Erik Osterhus is the CEO of Joule Capital Ventures (JCV). Headquartered in Houston, Texas, JCV

is a developer, general contractor, and operator of self-storage and commercial warehouse

facilities. Erik has owned and operated more than 1.7 million square feet across 30+ properties

in five states. JCV provides both accredited and non-accredited investors with the opportunity

to invest in high-potential acquisition, conversion, and development projects. JVC also provides

partnership opportunities and consulting services for other principals with self-storage and

constructions projects, focusing on adding value through improved operational management

and construction enhancement. Prior to the formation of JCV and Joule Commercial, Erik was

co-owner and chief development officer of Pinnacle Storage Properties, a vertically integrated

and national real estate owner-operator focused on the acquisition, expansion, and

management of self-storage facilities. While at Pinnacle, Erik participated in over $300M of self-

storage transactions, including the life cycle and sale of 15 facilities in 2021. This included the

divestment of a 14-property portfolio to NSA, totaling approximately 6,600 units and 1.2MM

square feet of rentable space. Erik is also president of Joule Commercial, a construction

company offering project management, facility renovation and new construction services for all

types of commercial projects. He is a founding member and board member of Fervent Capital, a

capital advisory company focused on owner operators in alternative asset classes. He is a

graduate of the University of Texas at Austin.

Heidi Henderson

Opening Remarks

Engineered Tax Services

Heidi is the Executive Vice President of Engineered Tax Services (ETS) and operates the Ogden, Utah office. ETS is headquartered in West Palm Beach, FL and has 16 offices Nationally. ETS is a licensed Engineering firm focused on specialty tax services relating to federal tax incentives and strategies for Real Estate owners.

Heidi is a Real Estate Professional with over 25 years of tax and accounting experience in the Real Estate Finance, Development, Construction, and Commercial Property Areas. She is a consultant to business owners and investors to ensure tax efficiency, and optimization of federal, state and local incentives throughout the US. Her experience includes industry specific federal lobbying efforts in D.C., technical guidance on varying tax topics, and overseeing the marketing and sales efforts nationally.

Her projects range from small office buildings, restaurants, self-storage and rental homes to multi-million-dollar projects including the W Hotel in Manhattan, the Sea-Tac Marriott. She has published numerous articles in AccountingToday among other CPA and Real Estate publications, and has spoken to audiences ranging from AIA, USGBC, Energy Symposiums, Tech Symposiums, AICPA, varying International CPA Associations, and AccountingToday’s national conference, qualifying for Continuing Professional and Legal Education. Topics range between energy efficient options for Real Estate owners, depreciation, tax methodologies, and over tax efficiency. Heidi holds a Master’s of Science in Accounting, an Undergraduate degree in Business and Accounting and personally invests in Real Estate in her home state of Utah where she resides with her husband, three children, and a multitude of furry friends.

Important Articles On Self Storage

Join Us Virtually for these Self Storage Investment Insights

Coming off banner years in 2020, 2021, and 2022, self storage remains top of mind for savvy investors and developers. U.S. self-storage transaction volume grew from $6.2 billion in 2020 to $16.8 billion in 2021, an increase of 170%, far outpacing the historical average annual transaction volume of $4.4 billion from 2010-2021, according to Real Capital Analytics and CBRE Investment Management. 

The U.S. self-storage market is comprised of just over 1 billion sq. ft., 125 million sq. ft. built in the past five years, according to Yardi Matrix. New supply is expected to increase through 2028 as these hurdles begin to dissipate. Yardi Matrix is forecasting 31.7 million sq. ft. of deliveries in 2023.

Some of the topics we'll cover on this event are:

Tech Integration: Self storage facilities are increasingly incorporating technology into their operations. This includes automated access control, online rental and payment options, and even smart security systems. Technology has not only enhanced convenience for customers but also improved efficiency for operators.

Market Consolidation: The self-storage industry has been experiencing consolidation, with larger players acquiring smaller facilities. This trend has been driven by economies of scale, increased operational efficiency, and access to capital for expansion. What should we expect going into 2024?

Specialized Storage: Some operators are starting to focus on niche markets, offering specialized storage solutions such as wine storage, vehicle (Boat/RV) storage, or climate-controlled units. These specialty facilities could command higher rental rates!

Urban Storage: In urban areas, there was a growing demand for self-storage facilities due to the increasing population density. Developers are looking for creative ways to build storage facilities in smaller urban footprints.

Economic Factors: Economic conditions, including interest rates, consumer spending, and housing markets, have a significant impact on the self-storage industry. Real estate professionals need to be attuned to these factors to make informed investment decisions.

Regulatory Considerations: Regulations and zoning laws can vary significantly by location and affect the development and operation of self-storage facilities. Staying abreast of local regulations is important for real estate professionals. 
 

There is incredible opportunity in this asset class. Join Bisnow and our all-star panelists to learn about the market and how you can get involved!

Please direct any questions or concerns to Chris.Wainwright@Bisnow.com!

Agenda

Time Activity
5:00 PM
5:05 PM
Opening Remarks from Engineered Tax Services
5:05 PM
6:05 PM
The State of the Self Storage Market

Trends in development, finance, leasing, and technology will be discussed!

Sponsors