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.
Insight for the First-Time Self-Storage Developer: What You Need to Know About Feasibility, Financing, Construction and More
Self-storage can be quite rewarding for the investor who does his homework and understands the business. Here are a few items every first-time developer should consider. ...More
Longview, Texas, Walmart Gets Converted to Self-Storage
A former Walmart store that has been vacant for six years in Longview, Texas, is getting new life as a Just Store It self-storage facility, expected to open at the end of July. ...More
Chester Heights Self-Storage in PA Closer to Opening
The Chester Heights Borough Council in Chester Heights, Pa., authorized the issuance of a temporary certificate of occupancy for Chester Heights Self-Storage. ...More
Facility-Renovation Spotlight: AAAA Self Storage of Norfolk, Va., and its 100-Year-Old Building
The transition of AAAA Self Storage in Norfolk, Va., embodies an emerging trend in saturated self-storage markets. Well-located facilities in dire need of renovation can undergo restoration to become valuable opportunities for new businesses. ...More
Stor-It-Now Opens in Valparaiso, Ind.
Two commercial developers in Valparaiso, Ind., recently opened Stor-It-Now!, a self-storage facility with 660 units and 75,000 square feet. ...More
NDS Construction Builds Noah’s Ark Self Storage & RV Storage in San Antonio
NDS Construction, a general contracting company for commercial and residential real estate, was awarded the construction contract for the first phase of the new Noah’s Ark Self Storage & RV Storage in southeast San Antonio. ...More
Council Approves Self-Storage Development in San Mateo, Calif.
The city council in San Mateo, Calif., Monday approved the redevelopment of a 3.5-acre site that will include housing and a three-story self-storage facility. ...More
Canadian Residents in Donald Oppose Self-Storage Project
Residents in Donald, Ontario, Canada, are opposed to the development of two self-storage buildings behind an old distribution center being renovated, claiming it would alter the flavor of the hamlet. ...More
Self-Storage Owner Honored for Conversion of Coca-Cola Building
A self-storage owner who’s converting a former Coca-Cola bottling building in Pennslyvania into self-storage was recently honored with a 2010 Historic Preservation Awards from Historic York Inc., a nonprofit organization dedicated to preserving historic architecture in York ...More
Detroit Planning Commission Considers Self-Storage Conversion
Detroit Planning Commission Considers Self-Storage Conversion Nolan Realty Investments is hoping to convert a one-story office building in Detroit into a three-story drive-through self-storage facility. ...More