Small Bay Institutionalized: Tech-Native Tenants, $40K Cobots, and the Eversource Power Crisis

Small Bay Institutionalized: Tech-Native Tenants, $40K Cobots, and the Eversource Power Crisis

Are you building a Small Bay Flex portfolio for institutional capital, or are you building it for yourself? I am your host, Thaddeus Campbell, and in this episode of Storage Unlocked, I sit down with three titans of the industrial flex market: Brett Turner (BKM Capital Partners), Jeremiah Boucher (Patriot Holdings), and Brian Whitmer (Doors and Spaces). Together, we pull back the curtain on an asset class experiencing a massive surge in institutional demand. In this episode, we cover: The Management Intensity: Why Small Bay remains a full-contact, hand-to-hand combat operations sport where you act as your tenant's outsourced real estate department. The Power Crunch: Why massive tech shifts like robotics and cobot arms are forcing developers to fight utility companies for heavy three-phase power upgrades. The Demographics Matrix: How tech-native millennials are dropping the average small business owner age to 45 and shifting the tenant pool toward advanced localized manufacturing. The Fallacy of Kiosks: Why B2B tenants refuse to deal with AI automated workflows when a mechanical issue hits their shop floor. The Fund Hustle: Brett shares the brutal reality of raising a first-time fund and what it takes to accumulate scale from scratch. Tune in to find out why sticking to a dedicated thesis is the only way to win in a market where prices are high and execution certainty is completely unknown. Connect with Thaddeus Campbell (S3 Partners): thaddeus@s3.partners [thaddeus@s3.partners]https://www.linkedin.com/in/itsthadcampbell/ [https://www.linkedin.com/in/itsthadcampbell/] Connect with Brett Turner (BKM Capital Partners): bturner@bkmcp.com [bturner@bkmcp.com] Connect with Jeremiah Boucher (Patriot Holdings) admin@patriotholdings.com [admin@patriotholdings.com] Connect with Brian Whitmer (Doors and Spaces) bwhitmer@repropco.com [bwhitmer@repropco.com] This episode was brought to you by: https://pbbrown.com/ [https://pbbrown.com/]

Storage Unlocked recaps all the goings on at the Northeast Storage Expo.

I am your host, Thaddeus Campbell, and in this episode of Storage Unlocked, I am recording live from the Northeast Storage Expo at Foxwoods . While the data says New England is outperforming the nation, the operators on the ground have a more nuanced story to tell. I sit down with industry legends and local power players to discuss how they are navigating legislative challenges and a transaction market that is defying high interest rates . In this episode, I cover: The Syracuse Anomaly: Why a recent trade at under a 6% cap on T12 earnings is proof that cash is still king in secondary markets . The Death of Fast Lease-ups: I discuss Lou Barnhole's warning to newer developers who underestimated their capital reserves during the 2021-2022 underwriting frenzy . Operational Necessity: Why education sessions are now packed with owners looking for "superpowers" to combat stagnant housing movement . Faith & Leadership: Shannon Charbonneau (XPS Solutions) shares how she integrates her convictions into her role as an industry-wide leader . The Round Table: I explain our new curated peer groups for high-level storage and flex-industrial operators . Connect with Thaddeus Campbell (S3 Partners): Email: thaddeus@s3.partners [thaddeus@s3.partners] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ [https://www.linkedin.com/in/itsthadcampbell/] This Episode was brought to you by: https://pbbrown.com/ [https://pbbrown.com/] https://s3.partners [https://s3.partners]

Noah Starr, TractIQ CEO, breaks down the data from a newsworthy Q1 for Self Storage REITs

Are the days of "speculative underwriting" officially over? I am your host, Thaddeus Campbell, and in this episode of Storage Unlocked, I am joined by Noah Starr (CEO of Tract IQ) to analyze the Q1 2026 REIT earnings reports . We move past the headlines of the $10.5 billion PSA/NSA merger to look at the raw numbers defining the "institutional era" of self-storage . In this episode, I cover: The Performance Gap: Why Extra Space reported +1.2% same-store NOI growth while Public Storage sat at +0.4%, and what that tells us about their competing bridge lending and third-party strategies . The Cost of Capital: What PSA's $500 million raise at 5% signals for future cap rates and why 2% debt is "far behind us" . Institutionalization: How the "Public 4.0" strategy is bringing massive REIT capital into secondary and tertiary markets for the first time . Verified Data: Noah explains how having access to achieved rates and occupancy for $50B in assets is allowing operators to make "defensible" decisions . Market Cycles: Why today's normalized rates and cash-flowing assets may represent a healthier entry point than the 2021-2022 frenzy . Tune in to get the data you need to thrive in a market that is no longer waiting for interest rates to drop. Connect with Thaddeus Campbell (S3 Partners): Email: thaddeus@s3.partners Linkedin: https://www.linkedin.com/in/itsthadcampbell/ [https://www.linkedin.com/in/itsthadcampbell/] Connect with Noah Starr (TractIQ) Email: noah@tractiq.com LinkedIn: https://www.linkedin.com/in/noah-starr/ [https://www.linkedin.com/in/noah-starr/] This Episode was brought to you by: https://pbbrown.com [https://pbbrown.com] https://s3.partners [https://s3.partners]

Three of the Best Private 3rd Party Operators Reveal the Reality of AI in Storage Ops.

Are you a "partner" with your management company, or just a line item on a shareholder report? . I am your host, Thaddeus Campbell, and in this episode of Storage Unlocked, I am joined by Peter Smyth (White Label Storage), Melissa Stiles (Storage Asset Management), and Ronna Siegel (StorQuest) . We tackle the changing landscape of third-party management in an era where Public Storage is buying NSA and StorageMart is making billion-dollar moves in New York . In this episode, I cover: The Scaling Secret: How technology allows private operators to manage hundreds of stores with the precision of a single-site owner . AI Efficiency: Why automating delinquency calls and payment collections is the easiest way to immediately improve your bottom line . The Pricing War: A deep dive into the 1% NOI growth gap between the top REITs and why some pricing strategies create a "death spiral" of churn and bad reviews . Personalization over Kiosks: Why the "10,000 layers" of a REIT can't compete with the personalized communication of a dedicated third-party firm . The Path Forward: Why 2026 search trends and occupancy data suggest the industry is finally turning the corner . Tune in to learn how to weaponize AI and local market expertise to outperform the giants of self-storage. Connect with Thaddeus Campbell (S3 Partners): Email: thaddeus@s3.partners [thaddeus@s3.partners] LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ [https://www.linkedin.com/in/itsthadcampbell/] Connect with Peter Smyth (White Label Storage): Email: peter@whitelabelstorage.com [peter@whitelabelstorage.com] LinkedIn:https://www.linkedin.com/in/peter-smyth-15142484/ Connect with Melissa Stiles (Storage Asset Management): Email: mstiles@storageasset.com [mstiles@storageasset.com] LinkedIn: https://www.linkedin.com/in/melissastiles/ [https://www.linkedin.com/in/melissastiles/] Connect with Ronna Siegel (StorQuest/William Warren Group): Email: rsiegel@williamwarren.com [rsiegel@williamwarren.com] LinkedIn: https://www.linkedin.com/in/rona-siegel-8969313/ [https://www.linkedin.com/in/rona-siegel-8969313/] This Episode was brought to you by: https://pbbrown.com/ [https://pbbrown.com/] https://s3.partners [https://s3.partners]

The Self Storage Industry hits the main stream of CRE with feature article in Wall Street Journal

I am breaking down a monumental week where the self-storage industry took center stage in the Wall Street Journal . From the "tipping point" of municipal pushback to the surprising double-digit surge in storage REIT stocks, I dive into the data that shows why this asset class is defying broader economic trends . I also have a massive announcement for the S3 Partners community. After 10 months of development, Barry Sherman and I are officially launching The Round Table, a series of curated, high-level peer groups designed to help developers, owners, and architects level up their game through real-world feedback . Episode Highlights: The Wall Street Journal Feature: I analyze the "irony" of municipalities pushing back on storage while usage hits record highs . Noah Star (Tract IQ) reveals that 12% of Americans now use storage, with Millennials and Gen Z leading the charge at 16% . Legends in the Spotlight: Hear why icons like Maurice Picotta and legal legend Scott Zucker believe that superior design and flexible planning departments are the keys to overcoming modern development hurdles . REIT War Chests: SmartStop announces a $100 million JV with bridge lender AXCS Capital . This brings the total capital raised by REITs for acquisitions and lending to $1.7 billion in less than a year . The Stock Market Surge: I look at why NSA is up 54%, and Public Storage is up 19% year-to-date, despite a "bad news" backdrop in the housing market . Housing Market Reality Check: Median home prices are up over $5,000, and with mortgage rates ticking back to 6.37%, the cost of a 30-year loan has jumped by $31,000 for the average buyer . Introducing The Round Table: I reveal the structure of our new mastermind groups—nine members, once-a-month curated meetings, and a focus on solving the specific challenges of storage and flex-industrial operators . Connect with Thaddeus Campbell (S3 Partners):Email: thaddeus@s3.partners [thaddeus@s3.partners] Linkedin: https://www.linkedin.com/in/itsthadcampbell/ [https://www.linkedin.com/in/itsthadcampbell/] This Episode was brought to you by:https://pbbrown.com/ [https://pbbrown.com/]