Startup self-storage business Get Space LLC plans to develop a 130,000-square-foot facility in downtown Portland, Ore. The project at 2211 N.W. York St. is in an area known as Slabtown, which has seen a surge of retail and residential development, according to a company press release. The self-storage facility will be near several new multi-family projects along the waterfront and Pearl District.
"There is so much to love about downtown Portland, from the food, rivers and bridges, and major redevelopment, but what it lacks is good storage,” said Daniel Lyman, co-founder and company principal. “That's where Get Space comes in."
The company began developing self-storage in the area in 2014 and currently operates two facilities, with several others in the pipeline. In May, officials announced their intention to launch with five facilities this year. It currently has two sites under construction and seven planned for next year, according to the release.
"When we started, we knew we wanted to come at it in a big way,” Lyman said. “Portland had everything we were looking for, so we planned on bringing 10 to 15 facilities to the area within two years. So far we're on track."
Construction on the Slabtown project is slated to begin during the second quarter of 2016. Construction is also scheduled to begin on three projects during the first quarter and two additional developments in the second quarter. The company has three projects in the permit and planning stages.
Get Space began as a joint venture between co-founders Benjamin Bradley and Lyman, and The Ritchie Group, an investment firm based in Salt Lake City that has interests in alternative fuels, emerging energy technology and real estate. The company determines the locations for its facilities using “a proprietary algorithm that creates a parcel by parcel analysis to determine the net demand for self-storage for a specific piece of land,” according to The Ritchie Group website.