ISS Blog

Self-Storage New Construction: Is it Making a Comeback?

Last week, ISS reported on a handful of new construction self-storage projects, and even an addition to another facility. This is good news considering new construction nearly came to a halt in the past two years. As financing dried up, so did new projects. And while financing is still super restrictive, some borrowers are finding funds to finance their long-awaited projects.

Last week, ISS reported on a handful of new construction self-storage projects, and even an addition to another facility. This is good news considering new construction nearly came to a halt in the past two years. As financing dried up, so did new projects. And while financing is still super restrictive, some borrowers are finding funds to finance their long-awaited projects.

While new builds can be a good thing for the self-storage industry, it can also be a bad thing. Many markets are already overcrowded with facilities. Just because a prime piece of land is available, that doesn’t mean it’s ideal for a self-storage facility.

Choosing the right self-storage location requires a number of steps, including evaluating the market. ISS offers dozens of articles on real estate, financing and construction in the online archives including due diligence, preparing loan documents, real estate snapshots by region, conversions, building multi-story facilities and much more.

If you have more questions about whether a site you’re considering is right for self-storage, ask other storage professionals on Self-Storage Talk. There are already several threads in the Construction, Development and Financing forum you can join, or post a new one.

Another avenue for self-storage education is the Inside Self-Storage World Expo in New Orleans, Sept. 29-Oct. 1. You can talk to self-storage developers, consultants and security vendors during the show’s exhibit hours. There will also be an education track dedicated to Construction, Development, Real Estate and Finance. More information will be posted as details unfold.

If you’re building a new facility, tell us about it. What are the challenges? What are the trends? What kind of market are you building in? Share you story by posting a comment below or join the fun at Self-Storage Talk.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish