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.


  • Starting Small
    As the saying goes, “Good things come in small packages.” Twenty-five years ago, I could barely fit a computer on my desk; today, I can tuck one in my briefcase. My cell phone is about the size of a pack of Tic-Tacs and will take a picture. Video cameras, televisions and ...More
    September 1, 2005 Melissa Hermes Posted in Articles, Development
  • The Burning Question
    To build or not to build is the biggest question facing today’s self-storage developer. When considering a plan, he has to examine a number of critical issues to ensure a viable and profitable project. Some considerations are whether the area can support more storage, how ...More
    September 1, 2005 Jamie Lindau Posted in Articles, Development
  • Getting to ‘Go’
    Perhaps one of the greatest analogies for the real estate business is the game of Monopoly. During play, there are opportunities for easy money when you pass “Go”—if you don’t draw the wrong cards. But getting to “Go” isn’t the objective of the game. Neither is it the goal ...More
    September 1, 2005 Victor Lopez Posted in Articles, Development
  • Metro Storage Expands Services
    To satisfy growing demand from institutional investors, Metro Storage LLC of Lake Bluff, Ill., is expanding its self-storage management services. ...More
    August 8, 2005 Posted in News, Development
  • Casaforte's Choice
    Casaforte Self-Storage, an industry leader in Italy and Switzerland, has become known for highly specialized services and distinctive architectural design. Established in 2001, the company is managed according to the same standards adopted by major U.S. and European ...More
    July 1, 2005 Sabrina Tordo Posted in Articles, Development
  • Profile of a Canadian Storage Market
    The most mature self-storage market in Canada is Vancouver Lower Mainland, British Columbia, where the first facility was developed in 1975. Today, the industry is flourishing, with rents and occupancies up, cap rates down, and supply and demand in balance. A construction ...More
    June 1, 2005 Candace Watson Posted in Articles, Development
  • Flint Creek Seeks JV Partner for Private Mini Storage
      Private Mini Storage Ventures LLC retained Flint Creek Partners LLC to identify an institutional partner for a $50 million programmatic joint venture. With a significant pipeline of investment opportunities already reserved, the proposed partnership will focus on ...More
    May 22, 2005 Posted in News, Development
  • Next Gen
    We have all heard people refer to self-storage facilities as being first, second, third or even fourth generation. I’d like to talk about what might be the next generation of self-storage: small facilities with no on-site management. We normally see these types of sites in ...More
    February 1, 2005 Charles Ray Wilson Posted in Articles, Development
  • Buy vs. Build
    Many investors struggle with the decision to develop a self-storage property from scratch or acquire an existing site. Their answer is likely to be a matter of economics, but additional considerations should be included in the analysis. This trite but true real estate ...More
    February 1, 2005 RK Kliebenstein Posted in Articles, Development
  • MANAGERS' WORLD
    I recently signed a management contract on a facility in central California that was a Small Business Administration (SBA) foreclosure. The site had obviously been mismanaged or the SBA would not have taken it back. There was no on-site manager, just a person brought in by ...More
    February 1, 2005 Pamela Alton Posted in Articles, Development