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.
Stor-Age Opens Self-Storage Facility in Centurion, South Africa
Stor-Age, the largest operator of self-storage facilities in South Africa, recently opened its newest location in Centurion, South Africa. Construction of the two-story, 9,300-square-meter facility began last November and took eight months to complete. ...More
Business Owner to Convert Salvage Yard into Self-Storage Facility in Busti, N.Y.
The owner of a salvage yard received permission last week from Busti, N.Y., officials to pursue a self-storage project on the property that now houses Casel Auto Wrecking. ...More
Saving Self-Storage Construction Loans From Extinction: Considering Loan Structure, Source and Viability
Today, self-storage new construction loans are almost considered an endangered species. By knowing where and how to apply for a loan, as well as some of the particular considerations for self-storage construction lending, operators, developers and investor can take these ...More
Chinese Self-Storage Developer Plans to Build Facility in Shanghai
Vanke Group, a China-based real estate developer, is planning to build a self-storage facility in its high-end Vanke City Garden housing complex in the Minhang District of Shanghai. ...More
Controversial Zoning Change Paves Way for Self-Storage Facility in Baraboo, Wis.
The Sauk County, Wis., Board of Supervisors approved a zoning change this week, paving the way for a proposed 300-unit self-storage facility in the town of Baraboo. The decision to change the zoning from agriculture to commercial was controversial because the Baraboo City ...More
Retrofitting a Building Into Your Dream Self-Storage Facility: A Guide for Intrepid Souls
While retrofitting a building into self-storage can be a rewarding and successful project, there are also many pitfalls to avoid. Learn how to steer clear of stumbles and think about retrofitting in a more critical way. ...More
Self-Storage Real Estate in the North-Central States: Rental Rates and Financing Improve
In most markets, self-storage continues to improve as financing has become more readily available to existing operators and those looking to invest in the industry. In this "roundtable discussion," the following real estate experts discuss capitalization rates, rental rates ...More
Adding Boat/RV Storage to a Self-Storage Site: Structure Types, Space Requirements and ROI
Self-storage operators with extra land often consider adding boat and RV storage to their existing operation to generate additional income. Before building, they must understand the types of storage available as well as space requirements and design considerations. ...More
The Rezoning Process: Guidelines for Getting Approval on Your Self-Storage Project
Self-storage developers who want to rezone a piece of land for a future project often face an uphill battle. Here are three guidelines to streamline the process and ensure the development is approved. ...More
Developer in Ohio Eyes Empty Lot to Build Self-Storage Facility
A developer unveiled his plans for a self-storage facility to the village council in Washingtonville, Ohio, last week. ...More