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GreenSpace Innovates Self-Storage Development Process for Eco-Friendly, Multi-Story Projects

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Certain aspects of GreenSpace inventions have been vetted by industry moguls, the banking industry, civil and structural engineers, and investors. The benefits Ledoux and Stockton discovered from their patents-pending ideas convinced these groups to invest and finance their projects.

The Design

Self-storage projects incorporating GreenSpace innovations enjoy many benefits over traditionally built multi-story facilities. One core aspect of the design is it allows the structural integrity of lower containers to support upper floors, providing substantial cost savings. Other advantages include:

  • A reduced need for new structural steel and concrete, which is better for the environment
  • Lower electricity needs during the manufacturing and construction process, saving enough energy to power more than 500 homes for the full year and reducing carbon-dioxide emissions by about 600 tons
  • A construction-cost reduction of $20 to $30 per gross square foot
  • Leveraged break-even occupancy of about 45 percent
  • A six-month construction timeline
  • Lower interest-carry requirements and lower working-capital reserves due to quicker construction and lower break-even occupancy results
  • Likely higher occupancy due to easily movable unit partitions, which quickly create different unit sizes
  • Hallways that can be designed in any width
  • Containers configurations that can fit any property shape
  • Minimized engineering costs
  • An exterior design that’s indistinguishable from any class-A facility
  • Container walls that are three times thicker than traditional hallway walls, adding security

The Projects

The three-story facility under construction in Pearland will comprise 96,000 net rentable square feet of storage space in 1,017 units. Located off a main thoroughfare in one of Houston’s fastest-growing suburbs, the facility will be near a mix of retailers including Lowe’s Home Improvement and an H-E-B grocery store.

GreenSpace is also building a 133,000-net-rentable-square-foot facility in Houston’s energy corridor, just north of an affluent neighborhood, at Interstate 10 W. and the Sam Houston Tollway. Both projects are expected to be completed this year. They’ll be managed by self-storage real estate investment trust CubeSmart and branded under its name.

The GreenSpace facility being built in Pearland, Texas

A second GreenSpace site in Houston

The Future

Since news about their designs and projects has been published, Ledoux and Stockton have been contacted by self-storage developers, public real estate investment trusts, real estate funds and high-net worth families looking to build single facilities or as many as 10. They’re also in discussion with a potential financial partner.

Their plan? To license their know-how and technology to other developers, build as many facilities as they can for themselves, and “have as much fun as possible,” Ledoux says. The company hopes to build 50 multi-story self-storage facilities nationwide in the next seven years. All in all, it’s not a bad beginning for a concept that started on a napkin.

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