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 Developer Flagship Investment Group Names New Senior VP of Acquisitions
Flagship Investment Group LLC, a private real estate investment company focused on self-storage and other ventures, named Steve Hryszko as senior vice president, acquisitions. Hryszko will lead the company’s national acquisition activity in self-storage. ...More
Self-Storage Planned in Upscale Mixed-Use Area in Loveland, Colo.
Self Storage @ Centerra, a $5 million, 780-unit self-storage project deemed "upscale" by its developers, is slated for construction at the Centerra mixed-use retail, office and residential complex in Loveland, Colo. The recent $1.4 million sale of 8 acres at E. 37th Street ...More
ezStorage Expands Self-Storage Facility in Randallstown, Md.
ezStorage Corp., a self-storage company with more than 40 facilities throughout Maryland, Virginia and Washington, D.C., is expanding with the addition of 40 units to its drive-through facility in Randallstown, Maryland. ...More
New Self-Storage Facility in Panama City, Panama, Hosts Grand Opening
Panama City, Panama, is home to a new Red Box self-storage facility composed of climate-controlled and traditional units, as the facility recently hosted its grand opening. ...More
Planner, Neighbors Disagree on Proposed Self-Storage Site in Ontario, Canada
A developer who would like to convert the site of a former Catholic school in Sarnia, Ontario, Canada, into a self-storage facility is facing opposition from the city planner, who wants the city council to refuse the developer's rezoning application at a public hearing this ...More
Self-Storage Construction Underway in Littleton, Mass.
Arenhall Corp. has begun construction of Littleton Storage Solutions, a 500-unit, 76,960-square-foot self-storage facility at 509 Great Road in Littleton, Mass. The facility will consist of a three-story, climate-controlled building and other single-story buildings. The ...More
Residents Oppose Self-Storage Development in Michigan
Residents in Lyndon Township, Mich., expressed concerns last week about a proposed self-storage development they believe could have a negative impact on the area. The township’s planning commission tabled a request on Feb. 16 for a special-use permit from Ronny Hamama. The ...More
Multi-Story Self-Storage Project Proposed for Haverford, Pa.
The planning and zoning department in Haverford, Pa., is considering a variance request from Argus Properties Inc. for the development of a three-story facility. ...More
U.K. Private-Equity Firm Ducalian to Develop Self-Storage Venture
Private-equity firm Ducalian has launched a new self-storage venture by acquiring a warehouse in Littlehampton, West Sussex, England for about $1.9 million (£1.2 million). ...More
Learning to Build a Self-Storage Business—Literally and Figuratively—at the ISS Expo in Las Vegas
When it comes to developing a self-storage business, there's much more than the physical plant to consider. Where and how you build your facility is critical, of course; but once the site is built, you enter the vital lease-up phase, where you grow your customer base and ...More