CASE STUDIES

Madison Capital Group / Go Store It Puts a Site Under Contract Using PropRise

May 29, 2024

“PropRise eliminates 75% of the manual work of searching for deals. It identifies the best markets to target so you don't waste time searching irrelevant areas. This saves countless hours.”

Shimon Kanter

Vice President of Development, Madison Capital Group

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. 

Problem

Madison Capital Group’s current deal sourcing process involves contacting a broker in a specific state and asking if there are any new active on-market listings that meet their criteria. This often leads to brokers sending thousands of listings, and the developer has to check each address to see 

if it fits their buy box. We caught up with Shimon Kanter, a VP of Development at MCG, to learn more about his process. It involves saying no to about 90% of deals passed his way, and occasionally finding a few that work that he dives deeper into. 

Solution

PropRise allows developers to search for ideal 3 to 5-mile pockets by simply entering their buying criteria. Shimon was excited to see potential areas that met his complex buying criteria and was shocked to find a trade area in the heart of New Jersey that checked all his boxes, so he immediately called a broker in the local area. The broker was able to find him an off-market deal that fit his exact buy box without the constant back and forth of typing in an address that could potentially meet his criteria. This deal is now under contract and is slated to be the next amazing opportunity in Go Store It’s ever-growing portfolio. 

Looking Ahead

As Go Store It continues on the pathway of industry domination, PropRise will remain a crucial part of the site selection process. Shimon, along with other team members, plans to use PropRise to discover new submarkets and close more land deals in the near future. We hope this will be the first of many case studies that will be written for the Go Store It team.

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