Storage Unlocked

Thaddeus Campbell
  • 0.0 (0)
  • Business News
  • Updated weekly

Storage Unlocked is where self-storage meets reality. Hosted by Thaddeus Campbell, this no-fluff podcast dives into the hard numbers, bold opinions, and surprising trends shaping the self-storage industry and beyond. From housing market shifts and economic red flags to untapped investment opportunities, Thaddeus and Chris break it all down with sharp insight and real-world experience. Whether you're a seasoned investor or just storage-curious, you'll get insider takes, uncensored discussions, and data-backed forecasts that actually matter. Weekly drops. Always unfiltered.

  1. Why NSA Is Trading ABOVE Public Storage's Implied Buyout Price

    2 days ago

    Why NSA Is Trading ABOVE Public Storage's Implied Buyout Price

    I am breaking down the massive macroeconomic and tech shifts defining our asset class in May 2026 . From Public Storage's blockbuster $10.5 billion deal to swallow NSA to a jaw-dropping discrepancy in same-store NOI growth, we are looking directly at the data points that prove the three-year downcycle has finally found its bottom . In this episode, I cover: The Cap Rate Inversion: Why active street transactions (like a recent secondary market 6-cap trade in Syracuse) indicate that public REIT stocks are deeply underpriced compared to their real-world property values . SmartStop's Quiet Masterclass: How the newest public REIT controlled expense growth at just 0.3% to lock in an industry-leading 2% same-store NOI expansion . The Cost of a Cold Winter: Inside CubeSmart's Q1 earnings drop, where dynamic marketing costs and freezing New Jersey snow removal fees swallowed 20% of their entire quarterly expense growth . Processing Speed as an Alpha Edge: Noah Starr (Tract IQ) details their massive new update that integrates exact CMBS data with AI workflows to let you screen hundreds of deals in seconds . Sneak Peeks: A preview of our upcoming roundtables featuring AI pioneers (Storage Pilot, Lumio, Homegrown Storage) and our Q2 Broker Wrap-up . Tune in to get the definitive financial and structural playbook for self-storage and alternative commercial real estate . Connect with Thaddeus Campbell (S3 Partners): Email: thaddeus@s3.partners LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This Episode was brought to you by: https://pbbrown.com/ https://s3.partners

    30 min

  2. 2 days ago ·  Bonus

    You Might Also Like: No Magic Pill with Blake Mycoskie

    Introducing Midlife Isn't a Crisis - It's a Metamorphosis w/ Chip Conley from No Magic Pill with Blake Mycoskie. Follow the show: No Magic Pill with Blake Mycoskie Chip Conley was driving to the Golden Gate Bridge to jump when a phone call with a friend and a song on the radio made him reconsider ending his life. He was in his late 40s, a time in which data shows we are generally at our unhappiest. Now, the former hospitality entrepreneur runs the Modern Elder Academy, which has helped more than 7,000 people embrace getting older. He and Blake discuss the happiness curve and Chip reveals the greatest longevity hack there is: changing your mindset on aging gains you seven and a half years of life! In this conversation you’ll learn: – What midlife means and why it’s a chrysalis moment – What an ego death is and how to go through one safely – How to move from facts to stories to the essence of who you are – How to shift from a fixed mindset to a growth mindset – How to build male friendships that are eye to eye rather than shoulder to shoulder – The importance of curating the five people closest to you You can learn more about Chip Conley and buy his books at https://chipconley.com/my-books/.  Enough Foundation's mission is to spread reminders in every form — bracelets, messages, actions, community — until feeling ENOUGH becomes the cultural default. To learn more, visit weareenough.co. Produced, Directed, and Cinematography by Wubetu Shimelash / IG: Wubetu Shimelash Disclaimer: No purchase necessary. While supplies last. Visit http://www.weareenough.co/rules for full terms. More information on Blake’s other projects here:  Morning Water  Morning Water is a daily hydration formula that restores energy, balance, and performance with essential electrolytes, minerals, and nutrients in one simple routine.  To learn more, visit morningwater.co and use code NOMAGICPILL for 25% off your first order. SONIA  Sonia is a conversational AI companion designed for emotional support. Through voice and text, it offers guided wellbeing sessions, including meditations, journaling, personalized recommendations, and practical exercises. To learn more, visit www.soniahealth.com and download it on the App Store. MOOVLAB At MOOVLAB, we bring health and wellness to your workday.  MOOVLAB - the answer to sitting is moving.  To learn more, visit www.moovlab.com Follow Blake on Instagram and stay up to date with Lemonada on Facebook and Instagram. For a list of current sponsors and discount codes for this and every other Lemonada show, go to lemonadamedia.com/sponsors. Joining Lemonada Premium is a great way to support our show and get bonus content. Subscribe today at lemonadapremium.com. Subscribe to Spotify Premium to watch ad-free video. Disclaimer: This episode is for informational and entertainment purposes only and is not intended as medical advice. Always consult a qualified healthcare professional regarding any medical questions or concerns you may have. Learn more about your ad choices. Visit megaphone.fm/adchoices DISCLAIMER: Please note, this is an independent podcast episode not affiliated with, endorsed by, or produced in conjunction with the host podcast feed or any of its media entities. The views and opinions expressed in this episode are solely those of the creators and guests. For any concerns, please reach out to team@podroll.fm.

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

    22 May

    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 https://www.linkedin.com/in/itsthadcampbell/ Connect with Brett Turner (BKM Capital Partners):
 bturner@bkmcp.com Connect with Jeremiah Boucher (Patriot Holdings) admin@patriotholdings.com Connect with Brian Whitmer (Doors and Spaces) bwhitmer@repropco.com This episode was brought to you by:
 https://pbbrown.com/

    54 min
  4. Storage Unlocked recaps all the goings on at the Northeast Storage Expo.

    15 May

    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 LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This Episode was brought to you by: https://pbbrown.com/ https://s3.partners

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

    8 May

    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/ Connect with Noah Starr (TractIQ)
 Email: noah@tractiq.com
 LinkedIn: https://www.linkedin.com/in/noah-starr/ This Episode was brought to you by:
 https://pbbrown.com  https://s3.partners

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

    1 May

    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 LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Peter Smyth (White Label Storage): Email: peter@whitelabelstorage.com LinkedIn:https://www.linkedin.com/in/peter-smyth-15142484/ Connect with Melissa Stiles (Storage Asset Management): Email: mstiles@storageasset.com LinkedIn: https://www.linkedin.com/in/melissastiles/ Connect with Ronna Siegel (StorQuest/William Warren Group): Email: rsiegel@williamwarren.com LinkedIn: https://www.linkedin.com/in/rona-siegel-8969313/ This Episode was brought to you by:  https://pbbrown.com/ https://s3.partners

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

    24 Apr

    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 Linkedin: https://www.linkedin.com/in/itsthadcampbell/ This Episode was brought to you by: https://pbbrown.com/

    23 min
  8. Take a Master Class from three of the most experienced minds in Small Bay Flex.

    17 Apr

    Take a Master Class from three of the most experienced minds in Small Bay Flex.

    I am your host, Thaddeus Campbell, and in this episode of Storage Unlocked, I am joined by a "superhero lineup": Barry Sherman (S3 Partners), Wayne Woolsey (Kiwi II Steel), and Cody Payne (Flex Parks USA). We pull back the curtain on an asset class that is currently outperforming storage in development returns and attracting massive attention from both private equity and local entrepreneurs . In this episode, we cover: The "Adolescent" Asset Class: Why Small Bay Flex has a "long way to go" and how to capitalize on the current supply-demand imbalance . Tenant Diversification: How "Answer Engine Optimization" and social media have allowed retail-style tenants to move into cheaper flex space . Critical Design Choices: Why unit flexibility and separation of utilities are vital for re-tenanting without blowing your budget on TI . The Cost of Verticality: Understanding how wind loads and larger door guides add to your steel costs as you grow from 16ft to 20ft clear height . Site Selection Savvy: Why you should look for "roofs and red dirt"—targeting sites across from HOA communities with restrictive parking rules . Tune in to find out why the "Speedboat" flexibility of Small Bay Flex is making it the smartest play in the 2026 commercial real estate market. Connect with Thaddeus Campbell: https://www.linkedin.com/in/itsthadcampbell/ thaddeus@s3.partners Connect with Barry Sherman: https://www.linkedin.com/in/barry-s-27b024a/ barry@s3.partners Connect with Wayne Woolsey: https://www.linkedin.com/in/waynewoolsey/ wayne.woolsey@kiwisteel.com Connect with Cody Payne: https://www.linkedin.com/in/codypayne/ cody@flexparksusa.com This episode was brought to you by: https://pbbrown.com/

    53 min
See All (53)

About

Storage Unlocked is where self-storage meets reality. Hosted by Thaddeus Campbell, this no-fluff podcast dives into the hard numbers, bold opinions, and surprising trends shaping the self-storage industry and beyond. From housing market shifts and economic red flags to untapped investment opportunities, Thaddeus and Chris break it all down with sharp insight and real-world experience. Whether you're a seasoned investor or just storage-curious, you'll get insider takes, uncensored discussions, and data-backed forecasts that actually matter. Weekly drops. Always unfiltered.

Information

  • Creator
    Thaddeus Campbell
  • Years Active
    2025 - 2026
  • Episodes
    53
  • Rating
    Clean
  • Copyright
    © 2025
  • Show Website
    Storage Unlocked

You Might Also Like