Self-Storage in Other Areas
Self-storage development is also expanding in Asia. Big Orange Self Storage now has five facilities in Hong Kong and Singapore. “The industry is in its infancy in Asia, and Asian banks are reticent to lend to this new and niche type industry,” says Angus Miller, the company’s CEO. “The capital side of the business has greater links to the global economy, and this aspect will be slow to recover.”
With an estimated 250 existing self-storage sites and more in the planning stages, Latin America is also seeing growth. Mexico is the leading country for self-storage in this region. Countries such as Brazil, Chile, Colombia, Costa Rica, Ecuador, Panama and Puerto Rico have modern self-storage facilities similar to those in the United States.
Although the global economy has taken its lumps, there are still markets in which demand for self-storage is high. Of course, finding quality real estate in the right location is a crucial element, no matter where development is considered.
The expansion of self-storage across the globe has helped solidify the products and processes of vendors and operators in the United States. The world is moving toward one big marketplace, with less restrictions and more free trade. Self-storage is truly becoming part of an international community.
John Fogg is part of the management team at Sentinel Systems Corp., which has been supplying software and security products exclusively to the self-storage industry since 1975. For more information, call 800.456.9955; e-mail firstname.lastname@example.org; visit www.sentinelsystems.com.
Security in Global Markets
Self-storage operators everywhere understand the critical role security plays at a facility. Tenants need to know their belongings will be protected. They also need to feel safe while on the premises. Studies show that one of the biggest reasons tenants choose to rent at a particular facility is site security.
Self-storage operators throughout Asia, Australia, Europe and New Zealand work diligently with security distributors to coordinate product choices and installation. The key is identifying the necessary system components and understanding how these pieces fit together, particularly how the system is unique to each site. Access control, individual door alarms, surveillance cameras and lighting are all considerations.
The goal is to create a visibly secure and pleasant environment that reassures renters, encourages prospects to rent, and discourages wrongdoers. Working with experienced self-storage security companies has helped many facility operators accomplish this.