About

Madison Capital Group Holdings LLC, known in the self storage world as Go Store It, was founded by Ryan Hanks in 2009. The company focuses on acquiring existing self-storage facilities and developing new sites from the ground up, as well as developing luxury apartment complexes in the Southeast. To say Madison Capital Group has moderate success would be an understatement, with 91 facilities built and 11 new developments in the pipeline across 18 states. Their development team, with years of experience, focuses geographically on the Southeast, West Coast, and East Coast, making them the 28th largest operator in the self-storage industry. 

The Challenge: Inefficient Deal Sourcing

Despite their success, Go Store It faced a significant hurdle in their deal sourcing process. The traditional method involved reaching out to brokers in specific states, asking for active on-market listings that met their criteria. This approach, while common, was far from efficient.

Shimon Kanter, VP of Development at MCG, shed light on the tedious process:

"We were inundated with thousands of listings from brokers. Our team had to manually check each address to see if it fit our buy box. It was like finding a needle in a haystack – we were saying no to about 90% of the deals that came our way."

This method was not only time-consuming but also risked overlooking potentially lucrative opportunities hidden in the sea of unsuitable listings.

The Solution: PropRise's Game-Changing Approach

Enter PropRise – a revolutionary tool that turned Go Store It's site selection process on its head. PropRise allows developers to search for ideal 3 to 5-mile pockets by simply entering their buying criteria. For Shimon and his team, this was a game-changer.

"I was amazed to find potential areas that met our complex buying criteria with just a few clicks," Shimon recalled. "But what really blew me away was discovering a trade area in the heart of New Jersey that checked all our boxes."

The real power of PropRise became evident when Shimon used the tool to identify an area with exceptionally high rates for 10x10 climate-controlled units, coupled with surprisingly low supply. Within seconds, PropRise provided a list of properly zoned and appropriately sized lots in this promising market.

Armed with this targeted information, Shimon reached out to a local broker. The result? The broker quickly located an off-market deal that perfectly fit Go Store It's buy box. This deal is now under contract, set to become the latest jewel in Go Store It's growing portfolio.

"What would have taken us an entire week to research manually, PropRise accomplished in minutes," Shimon emphasized. "It's not just about saving time; it's about uncovering opportunities we might have missed otherwise."

Looking Ahead

As Go Store It continues its trajectory towards industry dominance, PropRise has solidified its place as an indispensable tool in their site selection arsenal. Shimon and his colleagues plan to leverage PropRise's capabilities to:

1. Discover untapped submarkets with high potential

2. Close more land deals efficiently

3. Stay ahead of market trends and competition

This case study is likely to be the first of many success stories for the Go Store It team, as they continue to harness the power of PropRise to fuel their expansion and cement their position as industry leaders.