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.
Building Multistory: A Case Study
There has been a tremendous increase in the number of multistory self-storage facilities. In the past, multistory facilities were generally conversions of existing buildings that were no longer being used for their original purpose. However, more and more multistory ...More
In any land-development project, the journey from concept to completion involves a multitude of disciplines. Financial feasibility studies, design requirements, land-use and zoning ordinances, construction contracts, real estate law and transactional law all come into play ...More
A Winning Team
There is something very motivating about a success story. A quick trip to any local Barnes & Noble (or an evening viewing of "Biography" on the A & E channel) will verify there is no shortage of stories documenting the lives of people from Warren Buffet and Bill ...More
Self-Storage in the U.K. and Europe: From Planning to Reality
Generally, someone wishing to open a self-storage facility engages the services of an architect, who will do the design work that creates a facility according to specified requirements (and incorporates as much of his artistic flair as he can get away with—he is an ...More
Site Design and Unit Mix
Too often, the words "site design" and "unit mix" are used in a single phrase referring to one activity or used interchangeably as if they were the same thing. This is not so. Think of site design as "site planning" and unit mix as "unit-mix formulation." Both affect the ...More
O'Neil Software Inc.
O'NEIL SOFTWARE INC., IN ITS 20 YEARS providing records-storage solutions, has worked with hundreds of people in different aspects of the records-storage, self-storage and moving and storage industries. Clients range from the industry veteran with many years of experience ...More
Financial Feasibility of Records Storage
Until now, the underlying profitability of records storage has little surfaced or been presented in a comprehensive cash-flow model. Moreover, the financial advantage of codeveloping records storage with self-storage needs to be made clear. The purpose of this article is to ...More
Noah's G.P. Inc.
Many people bemoan having to "work for a living" and simply dread waking to the alarm at 6:30 a.m. on Monday morning. It is rare to encounter a person who exudes so much passion and excitement about his work it is contagious. But Mike Parham, founder and president of Noah's ...More
The essence of any good real estate transaction is due diligence, a "cat and mouse"-like game played between buyers and sellers, lenders and borrowers that defines the risks in a transaction. Buyers and sellers alike can benefit from knowing more about the due-diligence ...More
Is it always necessary to conduct a feasibility study when developing a self-storage project? If you meet any of the following criteria, you probably do not need to seek a self-storage professional to analyze your project: Your great Aunt Martha is richer than God, has only ...More