Moving and Storage Business News

The News Review:

- U-Store-It Trust Appoints Dean Jernigan Chief Executive Officer and…
- New outlets boost Lok’nStore
- News from around the San Francisco Bay area

U-Store-It Trust Appoints Dean Jernigan Chief Executive Officer and…
Free with registration – PR Newswire – AccessMyLibrary.com – Apr 24, 2006
Amsdell will retain the role of Chairman. Dean Jernigan age 60 most recently served as President of Jernigan Property Group LLC a Memphis-based company that owns and operates self- storage facilities. Jernigan was founder Chairman and Chief Executive Officer of Storage USA from 1985 until its sale in 2002 at which time it had a total capitalization of $2. 4 billion and a portfolio of 565 self-storage facilities. Storage USA was traded on the New York Stock Exchange from 1994 until 2002.

New outlets boost Lok’nStore
CityWire.co.uk – Apr 24, 2006
Chief executive Andrew Jacobs told Citywire that he believed the self-storage market in the UK was still under-developed. He said: ‘Self-storage in the UK is a product for which the demand is untapped. It has caught on in the US where there is five square feet of storage space for every member of the population but in the UK it is very much a growing market. ‘The good first half has the company estimating annualised turnover of £9. Jacobs said: ‘Lok’nStore’s market position leading brand and increasing balance sheet strength leaves us well positioned to take advantage of this under-developed market and there are attractive opportunities to grow the number of stores and to improve margins by enlarging their average size… He said: ‘Self-storage in the UK is a product for which the demand is untapped. It has caught on in the US where there is five square feet of storage space for every member of the population but in the UK it is very much a growing market. ‘The good first half has the company estimating annualised turnover of £9. Jacobs said: ‘Lok’nStore’s market position leading brand and increasing balance sheet strength leaves us well positioned to take advantage of this under-developed market and there are attractive opportunities to grow the number of stores and to improve margins by enlarging their average size. ‘We are pleased with current trading and encouraged by the early progress in our newly-opened Farnborough and Crayford stores which create a model for the future and we believe that there is an opportunity to further increase the value of the business by accelerating the development of new stores. ‘The company said that it is considering the disposal of is Kingston site which it bought 10 years ago for £900000 and which in today’s market has a value of between £8 million and £12 million.

News from around the San Francisco Bay area
San Diego Union Tribune – Apr 24, 2006
In 1968 Hiller turned his attention to investing opening Hiller Investment Company which he ran for three decades. His knack was taking troubled companies and making them profitable. Included in the roster of his successful turnarounds is Bekins Co. then the country’s largest moving and storage company which was coping with sharply declining profits. Jeffrey Hiller said his father had been suffering from Alzheimer’s disease for the past five years. is survived by his wife Carolyn Balsdon Hiller; his sons Jeffrey and Stephen Hiller; seven granddaughters; and his sister Patricia Hiller Chadwick of London.