Development

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.


  • Consider the Feasibilities
    Many in the self-storage business feel they already face too much competition. Some submarkets throughout the United Sates are indeed overbuilt with occupancy rates below historic patterns. Yet, the industry still affords numerous opportunities, and owning and operating a ...More
    February 1, 2007 Jim Chiswell Posted in Articles, Development
  • Proactive Site Selection
    Instead of reacting to a self-storage site presented to you by a broker, consider this: Have you first gone out and proactively researched the market to decide where you want to be located? If you know your market well, you may have instinctively decided where you want to ...More
    February 1, 2007 Nick Malagisi Posted in Articles, Development
  • ALL ABOUT STORAGE
    We’ve all heard business success depends on location. But even the best perch in the world can’t promise a pot of gold. Achieving facility occupancies and financial goals takes planning. While nobody has a magical equation for self-storage, several known factors contribute ...More
    February 1, 2007 Cheryl Kelley Posted in Articles, Development, Finance
  • Self-Storage 2006 in Review
    How well did self-storage perform in 2006 compared to other types of real estate? If you’re an owner, you know how well you did last year, but how did you compare to everyone else? Here is a look at the status of self-storage and its changes over the past year—changes that ...More
    February 1, 2007 Charles Ray Wilson Posted in Articles, Development
  • ISS FLASH REPORT
    The El Paso metropolitan statistical area is in Texas’ western-most point, neighboring New Mexico to the north and west; and the Rio Grande, the U.S-Mexican border, to the south. With its proximity to Mexico, linked by five international bridges, El Paso is a transportation ...More
    February 1, 2007 Self-Storage Data Services Inc. Posted in Articles, Development
  • Due Diligence and Risk Management
    Risk management in self-storage acquisitions always begins with proper due diligence— research that informs a buyer of financial and market risks. Buyers of self-storage properties should know that sellers or agents are looking to make the most money possible, which may ...More
    February 1, 2007 RK Kliebenstein Posted in Articles, Development
  • Boat/RV Storage: Questions Answered at Inside Self-Storage Vegas Expo
    Self-storage professionals interested in learning more about boat and RV storage will get their questions answered on Feb. 21, 2007, at the Inside Self-Storage Las Vegas Expo. ...More
    January 12, 2007 Posted in News, Development
  • Knights of the Wrong Table
    The self-storage industry has seen remarkable growth in its relatively young existence. With this growth, a tremendous amount of money has been made—and spent. As always, when a lot of money is involved, a lot of attention is attracted. When attention is attracted, smart ...More
    January 2, 2007 Bruce McCardle Posted in Articles, Development
  • ISS FLASH REPORT
    The Boise-Nampa, Idaho metropolitan statistical area (MSA) encompasses Ada, Boise, Canyon, Gem and Owyhee counties and has more than 18,000 businesses. Trade, utilities and transportation is the largest employment sector, followed in order by professional and business ...More
    January 2, 2007 Self-Storage Data Services Inc. Posted in Articles, Development
  • REAL ESTATE ROUNDUP
    Marketing experts profess the easiest way to sell is by eliminating your competitors—although this is certainly extreme and not completely practical advice. Reading this magazine’s articles on Yellow Pages ads, Internet access, flashing signs, decorative sales areas and ...More
    January 2, 2007 Michael L. McCune Posted in Articles, Development