Advertise on podcast: Stories Behind the Door

I sit down with Brett Turner, Senior Managing Director at BKM Capital Partners, for a masterclass in small bay industrial investment. Brett and his team are currently managing approximately $3.4 billion in AUM, specializing in multi-tenant industrial parks . In this conversation, we discuss why this asset class is incredibly difficult to manage but yields massive rewards for those who are vertically integrated. We explore the "replacement cost" gap that makes ground-up development nearly impossible to pencil, the shifting demand from small businesses, and why the current interest rate environment is creating a "perfect setup" for cash-flow-focused investors. Key Takeaways from this Episode: Outcome over Interaction: How technology has minimized the space requirements for manufacturers while increasing the need for nimble, "last-mile" locations . Market Trends: A look at why BKM is heavily deploying capital into Houston, Dallas, Atlanta, and Phoenix, while still finding AI-driven opportunities in Northern California . Management-Intensive Assets: Why large institutions like JP Morgan are finally taking positions in this space but still need expert managers to handle the 200+ tenants per park. Sustainable Growth: Why the industry is moving away from "steroid-level" 35% rent growth back toward healthy, inflation-beating rates . Personal Discipline: Brett's perspective on being a competitive bodybuilder and how high-stakes fitness translates into high-stakes fund management . If you are an investor or developer looking to understand where the "arbitrage" is in commercial real estate today, Brett Turner's insights from the front lines of BKM are essential listening. Connect with Brett Turner: Email: [email protected] Website: www.bkmcapitalpartners.com Connect with Thaddeus Campbell: Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This episode was brought to you by: https://www.kiwiconstruction.com/  

I sit down with Cory Sylvester, Principal at DXD Capital, for a masterclass in data-driven development and intentional leadership. Cory's path to becoming one of the most respected names in self-storage didn't start with real estate; it started at JP Morgan. After identifying a massive lack of institutional-grade data in the storage sector, Cory co-founded Radius+ and eventually DXD Capital, a firm currently managing 25 active developments. We discuss his transition from the "bureaucratic construct" of big banks to the high-friction world of entrepreneurship, ultra-marathons, and volunteer firefighting. Key Takeaways from this Episode: The "Victor" Mindset: Why Cory would rather fail a hundred times than be stifled by corporate red tape. Leading by Listening: The importance of checking your ego and creating a culture where employees feel safe enough to truly disconnect. The Friction Factor: Why Cory packs his schedule with ultra-marathons (like the Tahoe 200) and firefighting to build the mental toughness required for business. 2026 Industry Forecast: Why the decline in new construction and the resilience of younger storage users are creating the "perfect setup" for the next several years. Manage Space: A sneak peek into Cory's newest venture into property management software. If you want to hear from a leader who values "right vs. wrong" over "yelling and jerks," and who uses deep-dive analytics to outmaneuver the market, this conversation is essential for your 2026 strategy. Connect with Thaddeus Campbell (S3 Partners): https://www.linkedin.com/in/itsthadcampbell/ Connect with Cory Sylvester (DXD Capital): [email protected] https://dxd.capital This episode was brought to you by: https://www.kiwiconstruction.com/

I sit down with Andrew Capranos, President of 10 Federal, to discuss the intersection of high-level operations and cutting-edge technology in self-storage. Andrew's journey is a masterclass in efficiency. After managing retail teams of 400+ people at Target, he realized the incredible potential of the storage industry's margins—if you can get the operations right. We discuss his time at Public Storage, the birth of DaVinci Access Control, and the 10 Federal philosophy that "Customers want outcomes, not interactions." Key Takeaways from this Episode: The Necessity of Automation: Why a looming national labor shortage makes manual, on-site management a high-risk strategy for the next decade. Leading Indicators: Why looking at your past P&L is like driving with only a rearview mirror, and how to use data to predict future performance. Frictionless CX: How the hotel and airline industries have trained our customers to expect self-service, and why storage must adapt or die. Buying Right: Andrew shares how his team is successfully deploying capital in 2026 by finding value-add targets that others miss. Innovation vs. Expense: Why technology should be viewed as a profit driver, not a line-item cost. If you're interested in how AI and machine learning are moving from "buzzwords" to "bottom-line boosters," this conversation with Andrew is essential listening. Connect with Thaddeus Campbell (S3 Partners): [email protected] https://www.linkedin.com/in/itsthadcampbell/ Connect with Andrew Capranos [email protected] www.10federalstorage.com This episode was brought to you by: https://www.kiwiconstruction.com/

I sit down with Marc Goodin, CEO and President of Storage Authority, to pull back the curtain on one of the most successful franchise models in the self-storage industry. Marc isn't just a developer; he's a civil engineer who has spent four decades learning exactly what makes a facility succeed. He shares why he decided to stop "retiring" and instead start helping other professionals build wealth through his proven system. We talk about the "scary" headlines of 2026, the reality of SBA financing, and why he believes a self-storage facility should be run with the same hospitality mindset as a high-end hotel. You will learn: Why you can no longer be a "C-student" operator and expect to scale in today's market. How Marc's team helps franchisees navigate the "headache" of the SBA loan process through established relationships. Why the customer has often made their decision to rent before they even walk into your office. The advantage smaller, more nimble operators have when adopting new technology compared to the 4,000-store giants. Why the current lull in "mad rush" development is the perfect time for serious players to find and build Class-A sites. If you've ever wondered if you have what it takes to own a storage facility while keeping your day job, Marc's insights on systems and standards are exactly what you need to hear. Connect with Thaddeus Campbell: [email protected] https://www.linkedin.com/in/itsthadcampbell/ Connect with Marc Goodin: [email protected] www.storageauthorityfranchise.com This episode was brought to you by: https://www.kiwiconstruction.com/

How do you transition from a "stay-at-home mom" opportunity to becoming a senator for the SSA Young Leaders Group and a director at a top management firm? This week, Thaddeus Campbell talks with Sydnie Wilda, RV & Boat Development Director at The Storage Manager. Sydnie shares her powerful journey of overcoming personal adversity by choosing to be a "survivor" rather than a victim—a mindset she has carried into her career as a powerhouse in self-storage. She discusses the shifting landscape of third-party management as we enter 2026 and why the "human touch" is more valuable now than ever. Key Takeaways from this Episode: Boutique Third-Party Management: Why the goal isn't to manage 200+ facilities, but to monitor every asset as if it were your own. The 2026 Tech Stack: Insights into Notify, Storage Defender, and Spider Door, and how these tools are transitioning the industry into the next generation. Legislative Awareness: Why donating your time to organizations like the SSA is critical for protecting the industry from over-regulation. Marriage as a Partnership: A raw look at the conscious choice to support each other's dreams while raising a young family. Advice for Owners: Why holding your operational problems "close to your chest" is a mistake and where to find the guidebook for success. Whether you're a young professional looking to break into leadership or an owner navigating the complexities of 2026, Sydnie's infectious energy and tactical advice are exactly what you need to hear. Connect with Sydnie Wilda: Email: [email protected] Website: https://www.thestoragemanager.com Connect with Thaddeus Campbell: Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This episode was brought to you by: https://www.kiwiconstruction.com/

What does it take to build a construction company that thrives for over 30 years? According to Wayne Woolsey, President and CEO of Kiwi II Construction, it's simple: You have to be willing to "cook the meal" instead of microwaving it. In this episode, Wayne joins Thaddeus Campbell to share his journey from retrofitting public storage facilities after the Northridge earthquake to leading one of the most respected steel firms in the country . Wayne discusses the "steroid era" of storage, his predictions for steel pricing in 2026, and why he believes the industry's unique "if you succeed, I succeed" culture is its greatest asset . Key Takeaways: The 2026 Steel Forecast: Wayne breaks down why current steel prices (around $900/ton) are providing the consistency developers need to pencil projects for the coming year . Relationship ROI: Why 50% of the Kiwi II team has been with the company for over a decade and why Wayne's cell phone number hasn't changed in 30 years . Beyond the Shed: The evolution of steel aesthetics—from basic 1980s panels to modern insulated metal panels (IMPs) that look like brick and high-end masonry . The Flex Growth: How the "Small Bay Industrial Flex" and "Man Cave" segments are creating new opportunities for diverse steel designs . Connect with Wayne Woolsey: Email: [email protected] Website: https://www.kiwiconstruction.com Connect with Thaddeus Campbell: Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This episode was brought to you by: https://www.kiwiconstruction.com/

I talk to Rob Kapp, President of Keep It Simple Storage, about his path from a "get rich slow game" entrepreneur to the inventor of the revolutionary KISS Lock. Rob's story is one of hard-won success: he committed to a multi-decade journey, even selling his home to reinvest in real estate . His burnout from managing facilities led to the idea for the KISS Lock, a smart lock with no batteries that's powered by your phone's NFC technology . Why This Matters to Operators: Cost Revolution: The lock eliminates the massive expense of installing electricity to every unit door in a new build . Operational Efficiency: It solves fragmented issues like overlocking, unlocking, and auction management, simplifying the entire process . Critical Inflection Point: Rob warns that the industry has matured. Operators must be willing to make the painful change to adopt new technology or risk being "pushed out" by more sophisticated competitors. The days of being an average operator and still making big margins are over . Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Rob Kapp: Email: [email protected] Website: https://keepitsimplestorage.com    

I'm honored to share the deeply personal and inspirational story of MMA Pro-Fighter, "Hurricane" Shane Burgos. Shane's journey to the UFC octagon wasn't just about physical skill; it was a testament to mental grit and commitment, starting when he was a teenager . Key Insights from Shane: Burning the Boats: Shane had no backup plan, committing fully to fighting and purposely getting kicked off his high school diving team to focus on training. The Power of Discipline: His martial arts background instilled a karate-style discipline that is crucial in fight camp, forcing him to account for every macro and never show up late . The Hardest Lesson: He shares the struggle of failing his black belt test three times and the pride of earning it when he finally met the higher standard . The Overnight Change: Shane recounts the surreal experience of the last-minute call to the UFC, where his life literally changed overnight, going from financial struggle to stability in less than a year . The "Ride or Die": His wife has been everything, pushing him outside his comfort zone and challenging him to grow into the man and father he is today . Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ This episode was brought to you by: https://www.kiwiconstruction.com    

I talk with Kevin Bledsoe, President of The Bledsoe Storage Group at Marcus & Millichap, about his transition from operations to brokerage and his outlook on the 2026 self-storage market. Kevin's story is one of hard work, he started by installing gate controllers and sweeping storage units before becoming a Director of Operations for major firms like Simply Self Storage. This deep operational knowledge allows him to look at a P&L and instantly identify $500,000 opportunities that sellers overlook. What You'll Hear: The Operational Edge: Kevin explains how his experience managing over 100 properties gives him an advantage in providing immediate, value-add advice to sellers. Betting on Himself: He shares the entrepreneurial mindset, inspired by mentors like John Gilliland and Alyssa Quill, that pushed him to leave his secure job and start his own brokerage firm during a difficult market period. The Myth of the Mom & Pop: Kevin believes that while opportunities in top markets are "dwindling," 25%–35% of the assets he values are still great deals for regional investors that major REITs will never acquire. 2026 Forecast: Kevin is bullish, forecasting that continued interest rate drops will spur transaction velocity and make 2026 a much better year for the self-storage market. Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/thaddeuscampbell Connect with Kevin Bledsoe: Email: [email protected] Direct: (215) 531-7113 | Office: (215) 531-7000 This episode was brought to you by: https://www.kiwiconstruction.com

I sit down with Ben Vestal, CEO of Argus Self Storage Advisors, to discuss his incredible two-decade run in the industry, the recent SmartStop acquisition of his management platform, and what's next for the self-storage space. Ben shares how his brokerage business has always focused on the chase and complicated deals but stresses the importance of camaraderie and the willingness of high-level mentors to share information in this unique asset class . Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Ben Vestal: Email: [email protected] Website: https://argus-selfstorage.com This episode was brought to you by: https://www.kiwiconstruction.com/  

I'm joined by Tim Ryan, MAI, Senior Vice President at Newmark, to get a definitive, data-backed look at the self-storage market. Tim's career journey is fascinating, from his days at Syracuse University pursuing sports broadcasting to becoming a commercial appraiser and a leader on Newmark's National Self Storage Team . Tim gives an insider's perspective on the challenges of appraising during the COVID "steroid era," where everyone was chasing sub-five cap rates . He breaks down how Newmark uses its vast, proprietary database, cycling through thousands of assets a year, to provide the solid foundation needed for accurate valuations. What You'll Learn: The ICAP Fallout: How the removal of the ICAP tax benefit effectively killed new self-storage development in the New York metro area by removing multi-million dollar tax savings. The Expense Crunch: Insurance costs have doubled in the last three years, and rising property taxes are adding significant pressure to operating income . Market Status: The market is stabilizing, with a narrowing bid-ask spread and an increase in transactions observed in the second half of 2025. Consolidation: The industry is highly specialized, and mom-and-pop operators are increasingly being targeted for acquisition by a select pool of sophisticated buyers and REITs . Connect with Thaddeus Campbell:  Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Tim Ryan: Email: [email protected] Website: https://www.nmrk.com This episode was brought to you by: https://www.kiwiconstruction.com

I have a truly inspiring conversation with Rona Siegel, National Director of Third Party Management at The William Warren Group/StoreQuest. Rona shares her "by chance" entry into the self-storage world 10 years ago and how the company's "lifestyle brand" energy, embodied by founder Bill Hoban, hooked her. Rona is not just a high-level executive; she's a three-time New York Marathon runner and a fiercely dedicated mother . She opens up about her emotional journey following her son, a 6'6", 312-pound offensive lineman, on the Vanderbilt football team. More powerfully, she shares the family's deep commitment to "do for others," including her decision to donate a kidney to a friend's husband . We pivot to the business of running a modern management platform. Rona explains why competing against the largest REITs now requires having every system "running on high," utilizing in-house call centers and proprietary revenue management to handle aggressive ECRIs and rate negotiations. She also emphasizes the vital advocacy work of the NYSSA in preventing damaging state legislation . Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Rona Siegel: Email: [email protected] Website: https://www.storquest.com This episode was brought to you by: https://www.kiwiconstruction.com/    

Join me for a powerful and deeply personal conversation with Dayo Adebayo, Founder of DP Capital Partners. Dayo shares his path from managing complex corporate IT systems, where he witnessed executives who were financially secure but "not free," to dedicating his life to real estate entrepreneurship. Dayo's success is a testament to grind: he built an entire logistics company, which grew to over 300 employees and served Amazon, on the side of his corporate job. He walks through the difficult decision to leave his secure career to pursue what he calls "abundance." We discuss the core of his success: the compounding effect of reading (consuming 5-6 hours of audiobooks weekly) and why his biggest business strength is detaching his emotions from his decisions. Dayo details his focus on Class A Boat & RV Storage, backed by a new $25 million fund and a proof of concept that's beating expectations. Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Dayo Adebayo: Email: [email protected] Website: www.dpcapital.fund LinkedIn: https://www.linkedin.com/in/dayo-adebayo-11a44821 This episode was brought to you by: https://tractiq.com/

Solving a $200 Billion Problem: Andrew Jones and the Truck Parking Club I chat with Andrew Jones, VP at Truck Parking Club, about the severe shortage of safe truck parking, a problem that costs the logistics industry over $165 billion a year. Andrew's journey into this booming niche began after a lunch meeting with a broker, which led him to investigate the 10x problem of 3 million trucks with only 300,000 legal spots. Andrew's background as an operator and a regional manager at Extra Space Storage (his "MBA in self-storage")  gives him a unique edge. He explains that Truck Parking Club is the "Airbnb for truck parking," providing a technological solution for sites like self-storage facilities to monetize unused spaces. Andrew shares his commitment to long-term partnership and why his unique and honest presence on LinkedIn—inspired by his family's values and his Native American heritage, is simply about doing business with people you like. Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Andrew Jones: Email: [email protected] Website: https://truckparkingclub.com LinkedIn: https://www.linkedin.com/in/adjones5150 This episode was brought to you by: https://tractiq.com/

Join me for a powerful conversation with Noah Springer, Chief Strategic Officer of Extra Space Storage. Noah takes us back to his roots on a small farm in Central Illinois and shares the "life-defining moment" that sent him on a mission trip to Guatemala at 19, an experience that instilled a self-confidence he credits for his success. We trace his career from trading bonds at a bank to joining Extra Space in 2005 just before the company's massive growth. Noah stresses that the company is "built on values", with integrity and the Golden Rule at its core. He is open about the highly-debated COVID-era pricing strategy, explaining that it was driven by a need to adjust prices that had been suppressed by emergency regulations. Noah discusses his role in the company's $3 billion bridge lending program, which was created as an opportunity to support industry partners who needed capital. Finally, he shares the profound personal motivation that pushes him to take on ultra-endurance races: realizing how blessed he is, he feels a duty to "push as hard as I can" for those who have not had the same chance. Takeaways: Noah Springer joined Extra Space in 2005 just as the company purchased Storage USA, propelling it to the second-largest operator. The company's massive growth is credited to a commitment to its core culture and values that prioritize honesty and integrity. Noah emphasizes that Extra Space operates with a revenue strategy over an occupancy strategy, aiming for the highest revenue possible. The controversial increase in ECRIs (Estimated Completion Return Intervals) after COVID was a result of states of emergency pausing pricing and the need to bring old tenants up to a price that made sense. Extra Space created its bridge lending program to fill a gap in the market and create long-term partnerships, lending over $3 billion. His personal drive for ultra-endurance sports is fueled by a desire to push hard because he realizes he's won the "lottery by being born here". Extra Space's focus is on listening to the market and using its partners to determine what to add to the business. Connect with Thaddeus Campbell: Email: [email protected] Website: https://s3.partners/ LinkedIn: https://www.linkedin.com/in/itsthadcampbell/ Connect with Noah Springer: Email: [email protected] Website: https://www.extraspace.com This episode was brought to you by:  https://www.kiwiconstruction.com/