Tri-Valley, California – In September 2013, the owner of a self-storage facility located in the East Bay’s Tri-Valley market approached Cubix Construction regarding self-storage property management. Cubix Construction built the property in the late 1990s. The parties entered into a property management agreement with the principals of Cubix Asset Management commencing management in March 2014 and increased revenue by 19.6% percent during the first 12 months of operations.
Wine Country, California – In September 2015, a wine-country based self-storage facility lost its office and apartment in the Valley Fire and contacted Cubix Asset Management to manage the facility, assist in their fire clean-up, assist with the redesign and negotiation of insurance claims. Cubix Asset Management turned over the staff, assisted with the cleanup and redesign, negotiated a multi-million dollar insurance claim for the benefit of the owners, and increased revenues by 7.8 percent during the first 12 months of operations. For the trailing 12-month period ending March 31, 2018, revenue increased 20.5%. Occupancy currently sits above 95%.
Vallejo, California – In early 2013, a Vallejo property owner contacted the principals about participating in a joint-venture to develop a self-storage project. The property owner agreed to contribute the property in exchange for equity in the development. The principals of Cubix Asset Management provided the entitlement, design, construction and self-storage expertise. After a two and one-half year battle with the City, the Anchor Self Storage plan was approved in July 2015 and opened its doors in August 2016.
Oakley, California – In late 2015, the principals of Cubix Asset Management were contacted to co-develop a +100k square foot retail/self-storage project. To secure the self-storage entitlement, the City of Oakley required a retail component. The principals of Cubix Asset Management and co-developer secured an agreement with 7–11 to participate in the development, while Cubix Asset Management provided the design, construction, and self-storage expertise. Construction commenced in late 2017 and the facility opened in September 2018.
Gilroy, California – In mid-2016, Ted Crocker, the founder of Crocker’s Lockers, approached Cubix regarding a development project in Gilroy, California. Ted had a long history as one of the founders of the self-storage industry, however, he had been out of the game before the development of the internet and wanted to solely focus on new development without having to oversee day-to-day management. Cubix Construction built over a dozen Crocker’s Lockers self-storage facilities dating back to the mid-1970s and 1980s. The principals of Cubix Asset Management entered into a joint-venture agreement with Ted to develop the site and secure equity and bank financing. Cubix Asset Management provided the entitlement, design, construction, and self-storage expertise. The entitlement was secured in early 2017, with the land purchase contingent upon gaining planning approval. Plans were approved in early 2018 with construction commencing shortly thereafter. The self-storage facility opened in June 2019.