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.
Square One I recently returned from a positively awesome trip down to Supai, the Havasupai Indian Reservation located just southwest of the Grand Canyon. It's an eight-mile hike down to the village from Hualapai Hilltop, and another two miles down to the sacred Havasu ...More
Classic Mistakes in Self-Storage Development
On paper, self-storage development seems like an easy project. The buildings are simple in nature, with only a roll-up door and metal partitions. The buildings have no real HVAC, plumbing or electrical components other than in the office. But the reality is several mistakes ...More
Getting StartedSelecting a good site for a new self-storage business
Getting StartedSelecting a good site for a new self-storage business By Harold Leslie In today's market, it is more important than ever to do your homework before investing in a new self-storage project. Unlike the early days of self-storage when you could build a project ...More
One on OneWith Michael Skrentney
One on OneWith Michael Skrentney Michael Skrentny is currently president and part owner of Mystic Systems Technology Corp. (MSTC), a Scottsdale, Ariz.-based company that provides management software, access and alarm systems to the self-storage industry. He has been with ...More
Canadian Development and/or AcquisitionIt's a whole other country up there
Canadian Development and/or AcquisitionIt's a whole other country up there By Jeff Kinder If it wasn't for the Academy Award nomination for the song "Blame Canada," from the grunge animation flick South Park: Bigger, Longer & Uncut, most Americans probably ...More
The Riddle of 'Location'
The Riddle of 'Location' By Harley Rolfe The buzz these days is playing Q & A--you give the answer, then guess the question. Ready? Here's the answer: Location, location, location. I know, you've heard that one, but an old adage applies here: "You have to ask the ...More
State of the Industry ReportA look into the year 2000
State of the Industry ReportA look into the year 2000 By Teri L. Lanza "I never think of the future. It comes soon enough." ~Albert Einstein That it does. A year ago, Inside Self-Storage conferred with industry experts--crooned to the crystal ball, so to speak--in ...More
Buying Contaminated?Effectively managing environmental issues that affect property purchases
Buying Contaminated?Effectively managing environmental issues that affect property purchases By Michael D. Frede Many people involved with real estate in the self-storage industry are familiar with how environmental liabilities can significantly affect the profitability and ...More
Wrap it Up...
Wrap it Up... I have one of those mothers who spends more time wrapping her holiday gifts than she actually spends picking them out. She's meticulous. The paper must be appropriate to the receiving individual. The ribbon must be an impeccable match. Don't forget the ...More
Store Wars: The Saga ContinuesA development update on self-storage in Phoenix
Store Wars: The Saga ContinuesA development update on self-storage in Phoenix The Phoenix real-estate market is in its sixth year of a flourishing self-storage boom. The most elusive element with any cycle is knowing when it has reached its peak and the slide downward has ...More