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.
Sovran Self Storage Looking for the Right Properties for Future Acquisitions
Acquisitions helped Sovran become the fourth largest U.S. self-storage operator, but the company scaled back on buying self-storage properties during the recession and even sold some properties. ...More
CITYSpace on Main Self-Storage Opens in Louisville, Holds Grand Opening
CITYSpace on Main, a new self-storage facility in Louisville, Ky., will open on Friday night with a grand opening from 4 to 7 p.m. including entertainment, food and door prizes. ...More
Chester Heights Self Storage, Neighbors Reach Agreement on Location of Trees
The developer for Chester Heights Self Storage reached an agreement with homeowners who demanded trees be planted as a buffer between their homes and the facility in Pennyslvania. ...More
Volunteer Fire Department to Generate Revenue With Self-Storage in Chester, Ohio
The Station 6 Volunteer Fire Department of Chester, Ohio, is developing an 88-unit self-storage facility on land it owns along U.S. Route 30. Station 6 Storage should be up and running by November, according to Chief John Hissam. ...More
Aussie Storage London Opens in Battersea, U.K.
Aussie Storage London recently opened in Battersea, London, United Kingdom, with more than 700 self-storage units in 40 different sizes. Open every day, the facility has a covered loading/unloading area, a variety of packing and retail products, and a team security guards ...More
New Self-Storage, Retail Complex Proposed for McHenry, Ill.
A new self-storage facility and retail strip mall may be constructed on a 3-acre plot in McHenry, Ill., by land owner Thomas Grieco. According to city documents, the proposed project would include 13,560 square feet of self-storage space for 230 units in five buildings. ...More
Self-Storage Conversion Project Gets Initial Approval in Pomona, Calif.
The city council in Pomona, Calif., this week approved to issue up to $9.3 million in recovery zone facility bonds for the construction of a business center that will include a self-storage facility. ...More
$15M Self-Storage Project Being Built in Bahrain
Bahrain-based Al Khaleej Development Co. (Tameer) has begun construction on a $15 million self-storage project called Takhzeen. ...More
Elephant Holding Opens Self-Storage Facility in Budapest, Hungary
Real estate developer Elephant Holding Zrt. opened a new self-storage facility in a district warehouse of Budapest, Hungary, near the airport. ...More