The development of a self-storage facility generally begins with a comprehensive market analysis of the proposed project area. New owners and/or developers will usually hire a third-party specialist to conduct a detailed feasibility study, which will identify market demographics and other key metrics to determine the viability of self-storage in a particular location. Once a site is chosen, an engineer and architect are hired to design a self-storage facility that will maximize the investment in the land, including the site layout and unit mix. The developer, builder and/or owner may need to meet with local residents and the planning and zoning board to discuss the community impact of the project and the aesthetics of the individual buildings, including landscaping, building height, door color, etc. Owners might consider a multi-story building to maximize their footprint, or converting a building from another use to self-storage to widen their options.
Self-Storage Condominiums: The Advantages, State and Future of this Niche Investment Opportunity
Self-storage condominiums allow a customer to buy a specific unit at a facility, pay a fee similar to that of a homeowner’s association, and sell the unit at any time. Storage condos remain a niche market, but awareness of and attraction to the product is growing. Inside ...More
Council Approves Self-Storage Facility in Hastings, England
Despite traffic concerns and some opposition, the city council in Hastings, England, United Kingdom, has approved the construction of a 201-unit self-storage facility on the site of an old waste-vehicle depot. ...More
Stor-Age Develops Self-Storage Facility in Johannesburg, South Africa
Stor-Age Self Storage, a property-management group based in Cape Town, South Africa, recently began development of a new self-storage facility in the Johannesburg central business district. ...More
Uncle Bob’s Self Storage Receives Approval for $1.5 Facility in Jacksonville, Fla.
PAR Builders II Inc. received a building permit this week from the city of Jacksonville, Fla., to build a $1.5 million Uncle Bob’s Self Storage. ...More
Extra Space Storage in Florida Receives Award for Excellence in Development
The Extra Space Storage location in the Coconut Point area of in Estero, Fla., received the 2011 David Graham Award for Excellence in Development. The award was presented on April 7 at the Southwest Florida Urban Land Institute program by the Estero Community Planning Panel ...More
Self-Storage, Mini-Mall Mixed-Use Development Hosts Grand Opening in Meridian, Miss.
A mixed-use development project in Meridian, Miss., that includes an attached self-storage facility celebrated its grand opening March 30. ...More
4 Benefits of Building Commercial Real Estate in a Bad Economy
There are many benefits of building in a bad economy, which can present unique opportunities. The key is knowing what to look for and maintaining a forward-thinking “visionary” mentality. ...More
South African Self-Storage Operator Stor-Age Will Build Bloemfontein Facility
South African self-storage operator Stor-Age will develop a new purpose-built self-storage facility in Bloemfontein in the Free State. Bloemfontein is one of South Africa's three capital cities and is in the central part of the country. ...More
Public Hearing Set for Proposed Self-Storage Development in Oregon
The planning commission in Beaverton, Ore., will make a decision about a proposed self-storage development at a public hearing Wednesday. ...More
Strategic Storage Trust Buys Industrial CA Property, Plans to Redevelop Into Self-Storage
Strategic Storage Trust Inc. recently acquired an industrial building in Mississauga, Ontario, Canada, for about $5.6 million, with the intent to redevelop it into self-storage. ...More